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
- Loan-Team Initiated Workflow
- Income Verification Results Screen
- Reports in the Docs Tab
LO - Level Permissions
There is a new user permission called Permission to run verification of income that gives loan teams the ability to verify income through the Loan Team-Initiated VOI pull.
Note: Blend Support does not manage roles and permissions. Reach out to your Blend Administrator for updates to your role and/or permissions to access 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.
Reports in the Docs Tab
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 for more information on what features are enabled for your use.