Equifax Work Number: Easy Employment Verification

Employment verification can be a hassle, but Equifax Work Number (TWN) makes it simple. This platform helps lenders get accurate job details quickly, without the usual paperwork and phone calls.

How Equifax TWN Helps Lenders

• Quick Employment Checks: When someone applies for a loan, you need to verify their job details. Equifax TWN provides direct access to a large database of employment records. This means no more manual information gathering.
• Fast and Accurate: You can quickly check if someone is employed, their job role, and how much they earn. This speeds up the verification process.
• Automated Process: TWN automates many tasks, so you get the info you need faster and with fewer mistakes. This helps you make better lending decisions.
• Reduced Risk: Accurate job information helps lower the risk of fraud and defaults. This leads to safer lending decisions.

Easy Verification Process

• Getting Job Data: TWN contacts employers directly to get details like start date, job title, and income.
• Trusted Middleman: TWN acts as a secure bridge between you and the employer, ensuring the info is accurate.
• Security First: TWN keeps employment data safe from unauthorized access.
• Smooth Communication: TWN makes the verification process quick and reliable.

Also Read: Integrating Accounting Systems into Loan Servicing: Streamlining Financial Operations 

Key Details for Accuracy

TWN focuses on important details like Social Security numbers, employer IDs, and start dates. This ensures you get a clear and accurate work history.

• Accurate Data Points: Social Security numbers and start dates are checked thoroughly to ensure accuracy.
• Complete Overview: This gives you a reliable view of a person’s job history, improving your lending decisions.
• Fraud Prevention: Accurate information reduces the chance of fraud, making your lending safer.

Benefits for Lenders

• Better Decisions: TWN gives you verified job info, helping you make informed lending decisions and improve loan performance.
• Faster Loan Approvals: Automating the verification process means quicker approvals and disbursements.
• Happy Borrowers: Faster approvals mean a better experience for borrowers, helping you stay competitive.

Integration with LendFoundry

• Seamless Connection: LendFoundry integrates with TWN, allowing you to access real-time job info directly within your loan systems.
• Efficient Workflow: This integration helps you make quick and accurate lending decisions, improving your functional efficiency and customer satisfaction.

Also Read: Loan Servicing Software: Enhancing Lender Profitability Through Efficient Collections

Transforming Employment Verification

Equifax TWN is a game-changer for employment verification. It provides a reliable, fast, and accurate way to verify job details, helping you make better lending decisions. With integration options like LendFoundry, TWN makes employment verification a key part of responsible and efficient lending.