SALISBURY, Md.– Credit Plus, a provider of intelligent insight for mortgage professionals, said it will be offering instant, electronic Verifications of Deposits and Assets (VODAs) through AccountChek, a provider of automated deposit and asset verifications for the mortgage industry.
The company noted verification of deposits and assets has been approved by both Fannie Mae and Freddie Mac. Each organization recently revised its guidelines to allow acceptance of electronic, third-party VODAs.
The system is simple and can be accessed by smartphones, tablets, or computers, the company added. Lenders quickly receive a report that contains the necessary account documentation and have the ability to re-pull reports for up to 90 days.