The Closing Docs: Automated income verification with 100% accuracy

SEATTLE - Jan. 31, 2022 - PRLog -- During these unprecedented times, adaptability is an important trait for any business. With such variability across the economy, the importance of migrating to fast and accurate tools is tantamount. Specific to the housing sector, to stay competitive, landlords and lenders need rapid access to accurate info in order to streamline processing time and close more deals with confidence.

Yet, it comes as a big surprise that applicant income screening processes are still effectively paper and pencil, or based on 1st generation digital workflows. Additionally, applicants sharing fraudulent information is on the rise in both frequency and depth. Automated income verification from The Closing Docs solves for these complex variables. By providing deep insight into an applicant's ability to pay rent by revealing their net income over three simple steps - Collect, Confirm, and Share, the company reveals the truth about actual available income.

The Closing Docs is the new standard for verifying income that is accurate, fast, and secure. It accelerates the income verification process by sourcing data in just minutes while also ensuring the user's financial data is protected. The Closing Docs' income report assists with making confident judgments, whether you're a property manager looking for a tenant or a lender assessing the risk of potential borrowers.

According to a survey by the National Apartment Association (https://www.naahq.org/news-publications/national-apartmen...) (October 2021), 63% of respondents indicated they consider finding operational efficiencies as a top challenge in the coming year. When using The Closing Docs to verify applicant income, operators not only receive the most accurate income data available, they get to do so in minutes instead of days or weeks.

Let's face reality - today's consumers can buy just about anything on the Internet, including fraudulent income and employment documents. They might also forge these documents themselves. Thus, streamlining and re-evaluating screening processes for both accuracy and efficiency is key to staying competitive and to limiting risk, and playing a vital role in these efforts is the right technology.

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About The Closing Docs: The Closing Docs (https://theclosingdocs.com/blog/automated-income-verifica...), based in tech-centric Seattle, was founded in order to streamline income screening for property managers and lenders. More accurate applicant income information aggregated into normalized reports has significantly decreased processing time (~30%) for rental applications and increased funding rates (~15%) for loans. Bolstering business for property managers and underwriters by giving them faster access to better data is a big step forward. With The Closing Docs, teams close more deals.

HQ Address: The Closing Docs
140 Lakeside Ave, Suite A301
Seattle
WA 9812