Credit Bureaus Issue Statements Following FICO’s New Mortgage Pricing Announcement
Following FICO’s recent announcement of a new direct licensing model and updated pricing for mortgage credit scores, all three national credit...
Request Client Support
Chat with one of our support team members or directly reach out to the department you need.
According to KPMG, the IRS will remain fully operational during a potential government shutdown that may occur at 12:01AM Wednesday. That’s a change from past shutdowns when tax transcript services were unavailable. The Social Security Administration’s lapse plan, however, shows that certain services will pause, including the Consent Based Social Security Number Verification (CBSV) program that lenders rely on for SSN checks.
Separately, SSA’s CBSV service is already in a maintenance outage through October 4th, as posted on the Informative Research status page. This means that SSN verification requests through IR are currently delayed even before the potential shutdown.
Key Points:
Our Take:
Informative Research expects IRS income verification to remain steady, but SSN verification is already affected by SSA’s CBSV maintenance outage and will pause fully if a shutdown occurs. All SSN verification orders will be queued and processed on a first-in, first-out basis once CBSV is restored and SSA services resume.
Disclaimer: The views and commentary expressed in this blog are provided for informational purposes only and do not constitute legal, financial, or professional advice. Informative Research (IR) makes every effort to ensure the accuracy of the content at the time of publication, but we do not guarantee its completeness or timeliness. Readers should consult their own legal or business advisors before making decisions based on this information. References to third-party companies, products, or services are not endorsements.
The right partner makes all the difference. With IR, you gain smarter credit and verification solutions, a team that has your back, and a strategy that grows with you.
Following FICO’s recent announcement of a new direct licensing model and updated pricing for mortgage credit scores, all three national credit...