Verification services currently offered through Spectrum include: employment and payroll income via The Work Number-Equifax's proprietary database of over 210 million employer-direct payroll records, IRS tax transcripts (4056-T), identity and social security number authentication, verification of deposits, and verification of hazard insurance coverage.
What does VOD stand for?
VOD stands for Verification of Deposit
This definition appears frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of VOD
We have 36 other meanings of VOD in our Acronym Attic
- Vacuum Oxygen Decarbonization
- Valley of Death (Asheron's Call game)
- Value of the Dollar (finance)
- Van of Death (fast-food trailer in Cambridge, UK)
- Vector of Differentiation
- Vehicle Office D
- Vehicle Operations - Program D
- Velocity of Detonation (high explosives)
- Veno-Occlusive Disease
- Verification of Death
Samples in periodicals archive:
With the addition of verification of deposit, all four primary entry points for application fraud can be easily safeguarded, allowing lenders to avert more than 60 percent of mortgage fraud, well before a loan progresses to the funding stage," he said.
Release 15 includes streamlined account creation, automated verification of deposit, teller capture, automated loan rewards, and a member loyalty capability that automates the maintenance of marketing promotions.
Union Bank will rely on Savvion to enhance a wide variety of processes including verification of deposit (VOD), loan origination, and back office operations.
And because deposit automation technology provides verification of deposits and enables financial institutions to utilize electronic images for check clearing, members may have access to their deposited funds more quickly than ever before.
These include: * A simple, web-based user interface and intuitive workflow that requires virtually no end user training * Real-time capabilities such as image quality analysis (IQA), duplicate detection and verification of deposit * Ease of deployment, managed entirely by Alogent, using a service oriented architecture (SOA) infrastructure * Enhanced, integrated security standards * Sierra Deposit Portal[TM], a customizable interface that facilitates additional reporting capabilities In addition, Alogent has now integrated its remote deposit automation solution with lower-cost scanning devices from vendors including Unisys, RDM, Digital Check and Panini.
By importing and delivering bank data with DataFlow, and automating daily verification of deposits and research functions with ReconNET, North Fork intends to resolve transaction variances and reduce write-offs.
Mortgage Builder enables lenders to provide processing documents such as 1003, verification of employment (VOE), verification of deposit (VOD), good faith estimate (GFE) and truth in lending (TIL) forms in a Spanish version to their borrowers.