Maximize Your Existing VOA for Seamless 10-Day VOE with AccountChek®

Reducing borrower friction while maintaining compliance is a constant challenge. Lenders are under pressure to move faster, keep costs down, and improve the borrower experience, all while meeting rigorous investor requirements. That’s why there’s growing momentum behind a simple but often overlooked strategy: reusing the original AccountChek® bank data connection established at the time of Verification of Assets (VOA) to satisfy the 10-day pre-close Verification of Employment (VOE). Thanks to policy updates from both Fannie Mae and Freddie Mac, this is not just possible; it’s a smart option.

How It Works: One Connection, Multiple Verifications 

When a lender orders a VOA report via AccountChek® early in the loan process, the borrower grants permission to connect their bank account. That connection typically includes direct deposit history, which the GSEs may now accept to validate both income and employment. 

What many lenders don’t realize is that this bank connection remains active for 60 to 90 days, depending on configuration. This means that at any point during that window, including the final days before closing, lenders can pull a supplemental report to the VOA without requiring the borrower to log in again. With this supplemental pull, lenders can generate a deposit-based VOE (DVOE) report to satisfy the 10-day pre-close employment verification requirement, seamlessly and digitally.

Why Lenders Should Start Using This Now

Adopting this approach delivers a range of lender-facing advantages:

• Cost-Effective Option: Complete the 10-day pre-close employment verification without relying on more expensive third-party databases or manual solutions.
• Rapid Turnaround: Receive verification within minutes rather than chasing down employers.
• Reduced Risk of Delays: Digital access avoids bottlenecks during the final days of closing.
• More Value from Tools You Already Use: Get added utility from a resource you’ve already activated earlier in the process.

A Practical Scenario

Imagine this: A borrower applies for a loan in July, and their lender uses AccountChek® to verify assets, income, and employment, including access to direct deposit history. The closing is scheduled for late September.

Rather than ordering a new VOE report or contacting the employer manually 10 days before closing, the lender simply refreshes the original AccountChek® connection and generates a DVOE report. No delays. No friction. No additional action from the borrower.

Make the Most of What You've Already Built

Lenders have already invested in digital verification tools like AccountChek® at the start of the loan process. With both GSEs supporting deposit-based employment verification for the 10-day VOE, there’s a strong business case for maximizing the value of that original connection across all verification checkpoints before closing.

It’s not about adding more technology. It’s about fully utilizing what’s already in place to save time, reduce costs, and enhance the borrower experience. Now is the time to act.

Refresh your approach — and your data — with AccountChek®.