Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Equifax to pilot IRS eTranscript program
CHICAGO (10/24/12)--Equifax has been selected by the Internal Revenue Service (IRS) to participate in the IRS' new eTranscript pilot program, "Send My Transcript."

In residential mortgage lending, the IRS Form 4506-T is required to originate or modify loans under the new Fannie Mae Loan Quality Initiative, with tax transcripts required to validate income. Historically, the process for requesting and obtaining tax transcripts has been manual--typically with a minimum 48-hour turnaround--and often results in long timelines and lost documents that delay or prohibit loan closing, said Equifax.

Through the IRS' "Send My Transcript" online application service borrowers, can order a transcript online from the IRS' website and have it instantly delivered to their lender.

Equifax was selected as a pilot vendor because of its long-standing relationship with the IRS and history of driving automation in tax transcript delivery.


RSS





print
News Now LiveWire
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
1 hour ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
1 hour ago
.@Bankrate's top #creditunion survey hits @TIME http://t.co/xcMer497TN
1 hour ago
.@fileneresearch IDs 5 challenges for #women in #creditunion leadership http://t.co/GAYbw2dcCl
3 hours ago
It's Monday, time for another data breach release: @Uber's driver database via @pymnts #Stopthedatabreaches http://t.co/UoMcy4j5n4
4 hours ago