Income verification
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2015 Trailblazers: Equifax
Dec 01, 2015 12:00 amToday, many lenders verify an applicant’s employment and income themselves, often by having consumers provide W-2s and pay stubs. This is not only a time-intensive process that relies on consumers, but it also increases the risk to lenders due to a potential for fraud because the employer is removed from the process.