What does VOD stand for?

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.

A verification of deposit, along with the most recent bank statement, may be used to verify savings and checking accounts.

Union Bank will rely on Savvion to enhance a wide variety of processes including verification of deposit (VOD), loan origination, and back office operations.

Say, for example, when someone walks in with a bag of cash that smells like marijuana, or a customer who typically has S25 in his account suddenly has $25,000 the day before a verification of deposit (VOD) is done.

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.

The appraisals, the verification of deposits, employment, rents, you name it--when we look at that file, we look at it with a jaundiced eye and believe everything in that file could be fraudulent.

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.