You asked The Closing Docs to identify potentially misleading or even fraudulent application submittals.

The Closing Docs Now Identifies Mismatched Names Within Automated Income Verification Reports


You asked The Closing Docs to identify potentially misleading or even fraudulent application submittals. Sometimes our reports reveal applicant names that are different from the account holder name. This could be a simple error, where an applicant connected a business bank account instead of a personal account, or it might be attempted fraud. In either case, you need confidence regarding applicant identity and the account they are using to qualify based on income. Learning there are mismatched names in advance of approve/deny decisions prevents the cost and hassle of potential evictions down the road.

To address this problem and based on your request, we created a new feature to detect, when possible, whether the name of the applicant fails to match the name on the bank records. By evaluating the applicant’s name, examining bank records, and highlighting any differences, we are delivering clarity and certainty when deciding whether to approve applicants and move them toward occupancy. This info also supports a fair and documented process that works the same for all candidates, particularly valuable when it comes to declining an applicant.

By evaluating the applicant’s name, examining bank records, and highlighting any differences, we are delivering clarity and certainty when deciding whether to approve applicants and move them toward occupancy

The goal with this upgrade is to provide the most accurate understanding of applicant income. Consistent with our operating philosophy, we have streamlined your analysis while enhancing insight regarding an applicant’s verified and accurate financial picture.

If you find errors in our name matching or have any questions or more feedback, please feel free to reach out to support@theclosingdocs.com. We get stronger through learning from our customers.