Equifax adds a tool that flags who can take a paperless loan path
Equifax (NYSE: EFX) has launched "The Work Number Record Indicator" for auto and personal loans, integrating income and employment availability signals with consumer credit reports. This new tool allows lenders to segment workflows, fast-track eligible applicants through paperless paths, and identify those needing manual documentation, aiming to accelerate approvals and reduce friction. The solution aims to enhance decision-making, operational efficiency, and the borrower experience by providing immediate clarity on income and employment verification availability.
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