Blend will automatically evaluate incorrect W-2s and flag the lender if there is an issue.
When a borrower uploads a W-2, Blend will automatically parse it to proactively review and flag incorrect or blurry documents. Blend will:
- Check that the document looks like a W-2 and is not blurry.
- Compare the uploaded document information against the information entered on the 1003 or lender entered information on the Follow-Up request.
Note: This functionality works for both automatically and manually requested W-2s.
Sample document flagging process-manually requested W-2
1. Lender adds a W-2 Follow-Up and indicate the employer name.
Note: Blend will only check the uploaded document for employer information if the "employer name" is specified by the lender on the Follow-Up request. Otherwise, Blend will not run this check.
2. Borrower completes the W-2 Follow-Up request.
3. Lender email notification for the Follow-Up completion will indicate flagging, if there are issues detected.
4. The Follow-Up will also show the flag indicator next to the flagged Follow-Up in Blend.
5. Lender can click Review to see the flagged items.
Note: Blend will review the following fields for W-2s:
- Social Security Number
- Borrower name
- Employer name
If employer name and SSN are not indicated on the loan file, Blend will not run these checks.
6. Review information regarding the flag.
7. Accept or Re-request document.
Notes: Review every document from the borrower. Blend's OCR should be treated as a prioritization assistant tool.
Note: If the lender re-request a document, Blend will default the issue type and pre-fill a message for the borrower.
Tip: Check every time a lender accepts or re-requests the document, it powers and helps Blend's OCR flagging functionality.
DISCLAIMER: All mentioned features on this page may not be applicable to your institution, please reach out to (firstname.lastname@example.org) for more information on what features are enabled for your use.