Earlier this year, an underwriting department informed me they are no longer allowed to accept TheWorkNumber for employment verification purposes on any Fannie Mae Freddie Mac loans because of potential fraud issues. A second, unrelated broker is now telling me he can't use it as well.

If this is an official position, I can't find reference to it anywhere. Does this just depend on the lender I'm working with? Has anyone else come across this issue? I'd like nothing more than for companies to be forced to provide some other means. The worst part of applying for any loan is dealing with TheWorkNumber.

  • That'll be a policy decision of the individual insurance companies, although it may have become an accepted Best Practice. – keshlam Jun 8 '15 at 17:17
  • My company, and may others deal with this by providing a employment verification service. In my company's case they use a third party vendor which charges the requester for verification. The more info they want, the more is charged. And yes you have to authorize the information to be provided. – Pete B. Jun 8 '15 at 18:12
  • @PeteBelford Isn't that what TheWorkNumber is? – Joe Jun 8 '15 at 19:55
  • Maplemale, can we take it as given that your employer refuses to do any other employment verification than TheWorkNumber? – Joe Jun 8 '15 at 19:55
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    On a side note, have you asked if they'll accept any other sort of employment verification - such as regular and recent pay stubs? I used to (a long time ago) work for Borders, and many employees needed verification post-bankruptcy (after a time, TWN stopped verifying since Borders wasn't paying any more). Paystubs usually sufficed (though for "past" income, since they obviously weren't current employees). – Joe Jun 8 '15 at 20:25

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