Blend Income - Loan Team-Initiated VOI

Blend Income customers will now be able to allow their loan teams to manually order income verification from the lender application. In addition, lenders will be able to configure who can order income verification at the LO-level with a new user permission.

LO - Level Permissions

There is a new user permission called “Permission to run verification of income” that controls who on the loan team has the ability to verify income through the Loan Team-Initiated VOI pull.

 Note:  A lender’s Admin user, or Blend Support, can change this setting within the Roles section of the Admin panel in order to permit or restrict access to this feature.

Loan-Team Initiated Workflow

Loan team members will need to collect the following information in order to activate the workflow: 

• Social Security Number (SSN)
• Date of Birth (DOB)
• Present Address
• Consumer Report Consent

1. Navigate to the Employment section of the application, after entering the above information. 

2. Click Verify Employment. 

3. Click the radio button for Verify income and employer details.

4. Check the checkbox to indicate that you have received the borrower’s consent to obtain income and employment data.

 Note: This is a required field, and you will not be able to proceed without obtaining this consent.

5. Click Verify. 

 Note: A similar checkbox appears at the bottom of the Borrower information section of the lender application. If the box has been checked in that section, the box on this screen will be checked as well. 

Income Verification Results Screen

Blend will present any income and employment data that we were able to locate from the data provider. At first, the Employer will show “Verifying” and the Status will say “Pending.” Lenders will need to refresh their page using the browser’s refresh button to see the final results on this page. Afterwards, the Blend Income Report will be accessible via the “View Docs” link.

Docs Screen

Alternatively, lenders can navigate to the Docs tab to find the results.

If there is a successful hit, the Employment section of the lender application will pre-fill with the borrower’s income and employment data.

DISCLAIMER: The features on this page may not be applicable to your institution. Please reach out to Blend Support (support@blend.com) for more information on what features are enabled for your use.