Experian Launches Experian Verify™ Preview Report to Provide Mortgage Lenders with Upfront Visibility Into Employment Data

New solution, offered at no cost, helps lenders improve efficiency, streamline the homebuying process and mitigate unnecessary verification orders

COSTA MESA, Calif.--(BUSINESS WIRE)--In a move to help reduce costs and streamline employment verification for mortgage lenders, Experian^® today announced the launch of the Experian Verify^™ Preview Report, a new capability that gives mortgage lenders early visibility into a borrower’s employment data, at no cost.

The Experian Verify Preview Report provides lenders with an upfront view of all employers associated with a specific borrower, allowing lenders to see which employment records are available for instant verification through Experian Verify before obtaining a full verification of income and employment report. The solution requires no new integration work and can be requested through the same processes lenders already use to order Experian Verify instant verification reports.

As the mortgage industry continues to evolve toward greater automation and data-driven decisioning, mortgage lenders are increasingly feeling pressure to improve efficiency, reduce costs and streamline the homebuying process. The Experian Verify Preview Report offers lenders greater transparency, accessibility and control at a critical point in the origination process. By confirming employment data upfront, lenders can avoid unnecessary verification orders and potential delays in loan closing timelines, as well as optimize workflows and make more informed decisions, earlier in the loan process.

“The mortgage industry is transitioning into a new era; one where a legacy approach no longer meets the demands of today’s market. The market demands greater precision and efficiency at every stage of origination,” said Michele Bodda, President of Verification Solutions, Employer Services and Housing at Experian. “The Experian Verify Preview Report gives lenders clarity before they commit to spend. We are leveraging our data assets to deliver real, usable insights that help lenders control costs, streamline operations, and get people into the homes they deserve more quickly.”

The Experian Verify Preview Report leverages Experian’s unique payroll records along with employment data contributed through trusted provider relationships. It gives lenders a consolidated view of available employment records tied to a borrower, enabling them to:

• Improve certainty and loan pull-through by confirming data availability upfront
• Reduce operational costs by limiting unnecessary verification orders
• Enhance the borrower experience through faster decisions and fewer documentation requests
• Support confident, data-driven underwriting using trusted Experian employment data assets

To learn more about Experian Verify Preview Report, please visit https://www.experian.com/mortgage/experian-verify-preview-report.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realise their financial goals and help them to save time and money. We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 25,200 people across 33 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.