Last week, FormFree introduced a new Deposits-Based Verification of Employment (DVOE) report. This report supports the latest 10-day pre-closing verification (10-day PCV) enhancements to Freddie Mac’s Loan Product Advisor® (LPASM) asset and income modeler (AIM). DVOE reports will cost $15 for the first report generated on an order, with any subsequent refreshes at no additional cost. Any lenders that wish to disable DVOE for their organization can do so by contacting support.
For more information on Freddie Mac's selling guide updates, including feedback messages, click here.
Encompass Integration Update (DVOE Support)
The Encompass integration been updated to support ordering a DVOE report on an existing VOA order. To order, visit the VOA Management tab and choose Refresh in the Available Actions dropdown. In the refresh window, choose Deposits-Based Verification of Employment in the Report Type dropdown before clicking "Create".
Once generated, DVOE reports can be downloaded using the Download option in the Available Actions tab.