Ordering Verification of Income and Tax Transcripts

Ordering Verification of Income and Tax Transcripts Job Aid

Citizens is happy to announce a partnership with Equifax to give customers the ability to place orders for Verification of Income (VOI) and tax transcripts, which are used for Day 1 Certainty income validation. This job aid has been created to assist customers with ordering a VOI and/or tax transcripts from the vendor site. It also includes instructions for submitting the documentation to Q.AUS and Desktop Underwriter (DU).

Note: A separate order must be placed for each employment/income source being validated. For a borrower who has a W-2 job and a Schedule C job listed on the 1003, both the VOI and tax transcripts must be ordered.

Accessing the Vendor Site 1. Register the loan with Citizens. This is required as the Citizens loan number will serve as the reference number for the order and ensure the information from Equifax is properly communicated to DU for validation. 2. To access the VOI/transcripts ordering page:

? Use the link on the right side of wholesale..

? Or, visit verifiers.

3. Click the Log In button. 4. Use Citizens-specific credentials to log into the site. The username should be the user's first initial and last name (or

similar) followed by "FABN".

? Access to VOI ordering will have been granted if the user is an existing Work Number client. ? Access to ordering tax transcripts will have been granted if the user is an existing Rapid Reporting client.

Placing the Order

Once the user has successfully logged in, the website will default to the New Order page. To place an order, complete the steps below:

1. Enter the following information on the New Order page.

Field Name *SSN

*Tracking Number *Permissible Purpose

Information to Input Enter the borrower's social security number. Enter the Citizens loan number; this ensures that the VOI is picked up by DU and linked to the findings in order to determine income documentation relief. Select Consumer's application for credit.

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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Field Name *Verification Usage

Verification Types

*Required fields

Information to Input Select Order on behalf of end user. In the resulting drop-down box, choose "Franklin American Mortgage Company ? FABN". Choose the appropriate options for the income type being validated.

? Employment and Income ? This option is for wage earning (W-2) borrowers and will either result in an instant-hit from The Work Number, or allow for submission of a manually processed VOI.

? Self-Employed ? This option is for Schedule C borrowers with no other types of selfemployment reported, Social Security Income (SSI) income reported on tax returns, or pension income.

2. Click the Start Order button at the bottom of the page. 3. Depending on the order type, proceed to the applicable section for Employment and Income or Self-Employed.

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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Employment and Income 1. In the Order Information section, answer the following: ? *Consent ? Select "Yes" or "No" to indicate if the borrower has consented to obtaining their employment and income verification. ? *Records Form ? Select "Current Employers".

2. Based on state requirements, additional information may be required in some cases. ? *First Name ? Input the borrower's first name. ? *Last Name ? Input the borrower's last name. ? *Employer Name/Code ? If the employer's 6-digit code is known, enter it here; if the code is not known, enter the employer's name. To ensure accurate search results, avoid using abbreviations.

3. If the employer is a client of The Work Number and the borrower is currently employed with that employer, the instanthit report from The Work Number will be provided at this time.

? If there is an instant-hit report, proceed to the Submitting to Q.AUS/DU section. ? If there is not an instant-hit report, proceed to the next step.

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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4. To place an order for a manual VOI, complete the Employment & Income section on the Additional Information page as required. The more information that can be provided, the more easily and quickly the verification can be completed.

a. Required fields:

o First Name o Last Name o Employer Name (Complete this field with the full company name; avoid using abbreviations or

shortened versions of the company name.) o Employer State o Employer Zip Code o Employer Country b. Though the Employer Phone field is not required, it is best practice to submit a phone number. The number will be researched to validate that it is associated with the business; therefore, be sure that the number provided can be verified. Note: Cell phone numbers or direct lines to employees are often difficult to verify. c. In the required Authorization Form field, an authorization document must be uploaded. For a wage earner VOI, provide a signed Borrower's Authorization form using the Upload Authorization Form function next to the field.

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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5. Following the placement of the manual VOI order, a verification page will report that the order is in pending status and display order details.

Self-Employed

1. To place an order for tax transcripts, complete all the required fields within the Employment (Self-Employed) section on the Order Information page. The more information that can be provided, the more easily and quickly the verification can be completed. The following fields are required:

? First Name ? Last Name ? Business Name (Enter it exactly as it appears on the borrower's Schedule C from the most recent tax filing; do

not shorten or abbreviate the name.) ? Business State ? Business Zip Code ? Business Country

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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2. In the required Authorization Form field, an authorization document must be uploaded. For tax transcripts, provide a fully completed and executed 4506-T.

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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3. Following the placement of the tax transcripts order, a verification page will report that the order is in pending status and display order details.

Retrieving an Order

1. Equifax/The Work Number will notify the person who placed the order via email when the VOI or transcripts have been completed and are available for download. The email will come from verificationservices@.

2. Retrieve a copy of the VOI or transcripts from the My Orders > Completed Verifications section of The Work Number site. Important: Print or save a copy of verification. Once viewed, the verification will no longer be available.

3. Once a copy of the VOI or transcript has been acquired, proceed to the Submitting to Q.AUS/DU section below. Note: A printed copy of the completed VOI or transcripts must be submitted to Citizens with the loan submission package or upon receipt if the loan has already been submitted.

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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Submitting to Q.AUS/DU

After the VOI or transcripts have been completed by Equifax/The Work Number, complete the following steps:

1. Log into the Loan Pipeline through wholesale.. 2. Open Q.AUS for the subject loan. Findings must be submitted through Q.AUS to generate the Day 1 Certainty messages

related to the VOI. 3. Enter the income for the borrower as provided on the application or as calculated from the data provided on the VOI or

transcripts. 4. Review the findings; if necessary, adjust the income according to the DU calculations and resubmit for an updated

validation message. 5. Submit the loan to Citizens with the documentation requirements per the DU findings.

If the loan is submitted through Desktop Originator (DO) directly and not Q.AUS, the underwriter will eventually submit to DU through the Citizens internal systems which will then display any validation messaging.

Equal Housing Lender. Mortgages are offered and originated by Citizens Bank, N.A. Citizens is a brand name of Citizens Bank, N.A. (NMLS ID #433960). For mortgage banking professionals only; not authorized for distribution to consumers or third-parties. ?2022 Citizens Financial Group, Inc. All rights reserved.

Original Issue Date: 06/12/2018 Last Revision Date: 02/07/2019 Last Reviewed Date:06/12/2018

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