While the borrower and lender owns the direct broker relationship with insurance providers, KeyStone works to operate and with providers that specialize in rapidly researching reputable insurance carriers and their costs for the requested coverage within a given state.
Ultimately, this allows the customer the crucial opportunity to make an informed decision.
These include verbal verification of employment (VVOE), written verification of employment (WVOE), electronic verification of employment (eVOE), re-verification of employment (re-VOE), verification of assets (VOA), verification of deposit (VOD), verification of mortgage (VOM), verification of rental (VOR), and verification of social security number (SSA-89).
The approved providers of these products also offer an advanced feature set that was purposefully designed by KeyStone to improve the lender experience, improve compliance and the ability to audit, and which vitally enhance lender profitability as well.
While the reseller owns the direct vendor relationship with verification providers, KeyStone provides an outstanding selection of options and facilitates a low cost service to track orders and fulfillments, including provider scorecards, consolidated reporting and invoice reconciliation for the lender.
The key to vendors in this space is integrity. While some of the largest known providers willingly charge exorbitant fees for successive failed retries of employment verification, KeyStone will not certify providers that participate in abusive business practices within its network for use by resellers and lenders that rely upon KeyStone to participate and assist in vendor due diligence and vendor score carding. This feeds back into the core mission objective of KeyStone to work not just for those utilising its system, but advance the industry at large away from negative, costly, and inefficient practises.