DataVerify Releases Lender License Verification Program
September 27, 2006
DataVerify, a fraud prevention and vendor management provider, is launching a new product to help mortgage lenders automatically verify the licenses of brokers and correspondent lenders. The program, called Third Party Verify, continuously updates information from all regulatory agencies that license mortgage originators nationwide.
“In an environment in which all mortgage lenders are seeking new ways to streamline arduous manual or semi-automatic verification processes, such as critical third party license verifications, DataVerify’s Third Party Verify product actively monitors the license status and automatically alerts clients the instant that any licensing status changes. Third party license validation has been a unique feature of our DRIVE loan level mortgage fraud detection system and this new global license verification system meets the broader additional needs of our customers for real time license verification and monitoring,” said Steven Halper, CEO of DataVerify.