CIS Asset Verification Services

Asset Verification Services

Verification of Asset, Verification of Deposit, VOD/A

Validates consumer assets, deposits and account activity with statements delivered directly from the borrower’s financial institution (bank, checking, savings, investment)

Prevents fraud: direct delivery eliminates altered data

Fast: real-time access to statements following borrower’s confirmation

Secure: bank-level compliance

Third-party verification addresses GSE and secondary investor requirements

Cost-efficient: up to 10 accounts on a single request

Saves time: eliminates manual processing & chasing paper statements

Fulfillment includes complete account statement & FNMA form 1006

Monitor consumer accounts for 30-60-90 days

CIS is an integrated Asset Verification (VOD/A) provider for FNMA’s Day 1 Certainty

Traditional (manual) third-party verification of deposit/asset available upon request

Asset Verification Slick CISAfter the CIS client places the Asset Verification request, the consumer immediately receives AccountChek email, instructing them to:

First:

Login & Authorize: consumer selects link in email to login and agree to the terms & conditions.

Second:

Connect & Verify: consumer links their financial institutions & validates access to accounts, adding accounts, if needed.

Third:

Following consumer submission, CIS client receives email notification that deposit/asset report is ready for retrieval.

CIS delivers Asset Verification, completely replacing the need to collect paper banking & brokerage statements!  Direct source validation stops fraud, saves time and saves cost!  An average of 5 hours is spent, per loan, on asset document collection.  Review and verification of the same document occurs multiple times during underwriting, a process which is slow, costly, and riddled with fraud and oversights.  CIS Asset Verification provides account monitoring & account history options, and is accepted by Fannie Mae, Freddie Mac and nearly all investors, nationwide.  CIS Asset Verification (VOD) is approved for Fannie Mae’s Day 1 Certainty program.