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Freddie Mac Automates Employment Verification

Freddie Mac has automated 10-day pre-closing verification employment as the latest in a new set of automated underwriting capabilities.

Freddie Mac 300x274The update uses the borrower-approved bank account or payroll data from designated third-party vendors to give the borrower’s current employment status.

“These enhancements to our underwriting system increase accuracy and reduce fraud by sourcing bank account data,” said Terri Merlino, Freddie Mac's single-family chief credit officer. 

Read the full announcement from Freddie Mac. 

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