ATLANTA, Jan. 27, 2022 /PRNewswire/ -- Equifax
(NYSE: EFX) announced that The Work NumberⓇ offers
instant employment and income verifications service by leveraging
the latest Encompass Partner Connect API platform with
EncompassⓇ by ICE Mortgage
Technology™, part of Intercontinental Exchange, Inc.
(NYSE: ICE), a leading global provider of data, technology and
market infrastructure. The technology infrastructure and simplified
user interface create straightforward yet customizable pathways for
loan officers to instantly tap into enhanced mortgage income and
employment verification solutions from Equifax.
For lenders actively embracing digital processes, the new
Encompass integration built on the Partner Connect API platform
offers mortgage-specific verification solutions from The Work
Number database, including Mortgage Ultimate™,
Employment Select™ and All Employers within 24
Months™. Designed to help streamline the process for
lenders who are originating and pulling secondary verifications,
each solution is tailored to help meet specific needs within the
mortgage loan origination process.
"We are thrilled to be working with ICE Mortgage Technology on
this new API-based integration," said Ashley Wood, VP of Mortgage Verification
Services at Equifax Workforce Solutions. "Verifications from The
Work Number have been available through Encompass for more than a
decade, helping loan officers quickly access the income and
employment information they need to help consumers close on their
mortgages. This new API platform that ICE Mortgage Technology has
released for partners offers Encompass loan originators a better
experience and will soon include one-click access to the new
mortgage-specific verification sets from The Work Number, as well
as configurable automated order settings. Encompass is a trusted
solution for lenders of all sizes," continued Wood. "Both Equifax
and ICE Mortgage Technology focus on user experience and digital
efficiency so it was a natural fit to work together on developing,
piloting, and launching this new API for Partners."
The Work Number database, which was the first designated
third-party provider of income and employment verifications for the
government-sponsored enterprises (GSEs), gives credentialed
mortgage lenders with permissible purpose the ability to quickly
and securely tap into more than 500 million employee records,
including more than 125 million active records, from over two
million employers. By leveraging ICE Mortgage Technology's latest
Partner Connect API platform, lenders can continue to build
efficiency into their digital originations with Automated Service
Ordering (ASO), which offers lenders the ability to build
customizable order settings for verifications based on business
rules where permissible purpose exists. Prospective homebuyers can
also reap the benefits of the new integration, since The Work
Number verifications help reduce the amount of documentation they
have to pull together for a loan application.
The new Encompass Partner Connect platform and verification
product's flexibility enable lenders to deliver a seamless,
low-friction digital lending experience. Lenders using Encompass
can now choose the new API experience and The Work Number mortgage
verification solutions.
To learn more about mortgage verifications via The Work Number
database, please visit here.
ICE Mortgage Technology combines technology, data and expertise
to help automate the mortgage process, from consumer engagement
through loan registration, and every step and task in between. ICE
Mortgage Technology is the leading cloud-based loan origination
platform provider for the mortgage industry, with solutions that
enable lenders to originate more loans, lower origination costs,
and reduce the time to close, all while ensuring high levels of
compliance, quality and efficiency.
Visit icemortgagetechnology.com or call (877) 355-4362 to
learn more.
ABOUT INTERCONTINENTAL EXCHANGE
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune
500 company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate exchanges,
including the New York Stock Exchange, and clearing
houses that help people invest, raise capital and manage risk
across multiple asset classes. Our comprehensive fixed income data
services and execution capabilities provide information,
analytics and platforms that help our customers capitalize on
opportunities and operate more efficiently. At ICE Mortgage
Technology, we are transforming and digitizing the U.S. residential
mortgage process, from consumer engagement through loan
registration. Together, we transform, streamline and automate
industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for certain
products covered by the EU Packaged Retail and Insurance-based
Investment Products Regulation can be accessed on the relevant
exchange website under the heading "Key Information Documents
(KIDS)."
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on
February 4, 2021.
ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As
a global data, analytics, and technology company, we play an
essential role in the global economy by helping financial
institutions, companies, employers, and government agencies make
critical decisions with greater confidence. Our unique blend of
differentiated data, analytics, and cloud technology drives
insights to power decisions to move people forward. Headquartered
in Atlanta and supported by more
than 13,000 employees worldwide, Equifax operates or has
investments in 24 countries in North
America, Central and South
America, Europe, and the
Asia Pacific region. For more
information, visit Equifax.com.
For more information:
mediarelations@equifax.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/the-work-number-enhances-instant-verifications-service-leveraging-ice-mortgage-technologys-encompass-platform-301469181.html
SOURCE Equifax Inc.