In today’s competitive mortgage environment, lenders are under constant pressure to move faster and reduce costs while delivering a seamless borrower experience. Yet one persistent challenge continues to impact efficient operations and profitability: buying duplicate income and employment verifications.
The Cost of Uncertainty: Why Unnecessary Verification Orders Happen
When lenders cannot confidently determine whether employment data is available through a specific provider, they face a difficult choice:
- Take a chance on one provider, risking delays if records aren’t available
- Order from multiple providers to ensure coverage, but increasing costs
This uncertainty adds up. Over time, the cost of ordering extra verification orders can lead to increased operational expenses and reduce overall loan profitability.
In a high-volume lending environment, even small inefficiencies scale quickly, leading to increased costs. The lack of upfront transparency into employment data availability can make it difficult to control verification costs while maintaining speed and certainty in the loan process.
Introducing the Experian Verify™ Preview Report
With 10 to 12% of consumers holding multiple jobs, lenders often feel compelled to check both Experian Verify and higher-cost competitors to find complete employment records. Experian’s Verify Preview Report eliminates that uncertainty, accelerating loan decisions, cutting costs, and streamlining the borrower’s experience.
Available at no cost to existing Experian mortgage clients, the report gives an upfront view of which employers are associated with a consumer within a configured lookback period—before committing to buying a report.
The Experian Verify Preview Report provides lenders with instant visibility into employer records tied to a borrower—before they purchase a full Verification of Income and Employment (VOIE) report.
With a Verify Preview Report, lenders can:
- See a list of employer names associated with the borrower
- Confirm which records are available for instant verification through Experian Verify
- Determine whether ordering a full VOIE report will add value
The result? Fewer unnecessary orders, lower verification costs, and a smarter, more efficient verification workflow.
This availability empowers lenders to start the verification process confidently. When the employer information lenders need is present, they can move forward with a lower cost report, accessing the same data as other providers but at a better price. And when records aren’t available, alternative providers remain a fallback. The Experian Verify Preview Report makes it clear that Experian Verify has the instant employment data lenders need, which could lead to improved outcomes and operational efficiency.
How it works
The Experian Verify Preview Report offers a seamless implementation process. There is no new integration required. Lenders already using Experian Verify Instant can request the Preview Report using the same API connection. The only difference is which report type you request.
Here’s how it works:
- Request the Preview Report via your current Experian Verify Instant integration by selecting the Preview Report type.
- Receive instant visibility into employer names associated with the consumer for your configured timeframe (e.g., 24 months).
- Proceed confidently by confirming availability before placing a full VOIE order, only when it adds value.
Because the API is already in place, using the Verify Report is a frictionless process. Lenders simply request this specific report type and immediately gain the benefits of upfront clarity into employment records.
Move from preview to proof with confidence
The Experian Verify Preview Report is not a replacement for a full VOIE report—it’s a strategic first step. Once lenders confirm that relevant employment records are available, they can move from preview to proof by ordering the full VOIE report through the same integration. In an environment where margins and efficiency matter, having visibility before you buy isn’t just helpful—it’s essential.
With the Experian Verify™ Preview Report, lenders can eliminate guesswork, control costs, and move from preview to proof with confidence.
To learn more about how Experian Verify Preview Report, contact us and visit us online.