Form 4506-T verification of income
Businesses need to be responsive to their clients. Nobody likes to wait. Reducing the time between placing a Form 4506-T verification request and IRS transcript delivery is priority for 4UStax.net. The necessity for fast turn around time is why we have worked to provide next day delivery. The quick processing of a Form 4506-T is a valuable part of income verification.
Fraud Protection
4UStax.net specializes in the verification of your borrower’s income and their identity through our Form 4506-T Verification Service.
We reduce fraud for our clients by obtaining their IRS 1040 tax records and social security identity disclosure prior to loan approval.
It has been our experience that some borrowers will present you with 1040 tax returns that they did not file with the IRS, thus allowing you to approve loans with fraudulent information. Mortgage fraud is in the top 5% of fraud cases in the United States per the FBI.
Income as well as identity fraud is currently expanding at an alarming speed. Borrowers are now more adept at modifying tax returns and income documentation to obtain loans.
The fastest and most reliable way to verify income is to compare information provided by borrowers with what the IRS genuinely reports, which is factual.
4UStax.net sponsors the fastest, most consistent, process by maintaining an earnest relationship with all the IRS main data centers. These are located all throughout the country. With this process, and because of the time-savings, it is possible to capture fraud at the pre-funding level. This can protect lenders from a potential default.
Want some more information on how to protect your mortgage lending business from fraud? Click here to download:
Fraud Awareness and Detection for Asset Based Lenders
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