We undergo rigorous audits from GSEs and lenders and
conduct robust and regular testing to ensure that our systems
are up-to-date and keeping your data secure.
Close more loans, with faster and lower origination costs.
A superior Borrower and Lender experience.
Q: WHAT IS ACCOUNTCHEK®?
AccountChek is an impartial, third-party service used by lenders to automatically retrieve financial asset
data as part of a borrower’s application for a loan, line of credit or other financial service. Because
AccountChek collects data directly from the borrower’s financial institution using state-of-the-art encryption
and bank-level security measures, you can be sure that the data is accurate and secure.
AccountChek quickly, automatically and accurately analyzes borrower account data and securely transmits the results to the
lender via the ReissueKeyTM. This lets lenders make better and faster decisions, which can make credit
less expensive and more available to consumers.
Q: HOW SECURE IS THE ACCOUNTCHEK SERVICE?
Security and accuracy are our top priorities. AccountChek security procedures meet the high standards of
security used by banks and other ultra-secure institutions, and our security systems undergo rigorous audits
and certifications from the nation’s largest investors and lenders.
Submitting information through AccountChek is significantly more secure than having borrowers email, fax or mail copies of
their bank statements.
Q: WHAT IS THE “REFRESH PERIOD”?
The refresh period determines how long an AccountChek order remains open. The verifier (i.e., the loan officer
or loan processor) may choose a 30-, 60- or 90-day refresh period at the time the order is placed. The
refresh period cannot be modified once an order is placed. The order opens, and the refresh period begins,
as soon as the borrower successfully authorizes AccountChek’s access. The order closes automatically at
the end of the refresh period, unless the verifier manually closes the order sooner using the Verifier
During the refresh period, the verifier may:
NOTE: The range of data obtained by AccountChek may vary from the requested period depending on what data
is made available by the financial institution at the time the order is executed.
Q: WHAT DOES AN “ALERT” STATUS MEAN?
An alert status indicates an issue connecting to the borrower’s financial institution(s) (“FI”). Things that
can cause an alert include:
Q: WHY DOES THE “60-DAY AVERAGE BALANCE” SHOW N/A?
There are two reasons the system may fail to calculate a 60-day average balance:
Q: WHAT DOES A “PENDING” STATUS MEAN?
A pending status means the borrower has started the AccountChek authorization process but has not completed
all the required steps. Once the borrower has authorized account access, he or she must click the “Finish”
button to allow the system to generate the report.
Q: HOW DO I KNOW IF A BANK IS ON THE ACCOUNTCHEK SYSTEM?
Select the “FI Search” button next to the “List Orders” button. Type in the name (or part of the name) of
the financial Institution you are looking for. The system will return a list of supported institutions
that match your search term. If the bank is listed, then it is supported. Banks may have different online
banking websites for different account types. Please make sure the site for your borrower’s specific account
Q: HOW CAN I REQUEST ADDITIONAL ACCOUNTS FOR VERIFICATION?
If the order is open, the borrower can log back in to AccountChek and add another financial institution.
If the borrower has deleted the invitation email, you can reissue it by clicking “Resend.”
You may also deliver the AccountChek BORROWER LOGIN by copying it and sending it directly to the borrower.
Q: IF I USE ACCOUNTCHEK, DO I STILL NEED TO SUBMIT PAPER STATEMENTS?
No. The AccountChek Verification of Asset Report is accepted by the GSEs and other investors as a substitute
for the 1006. Please check with your investor(s) to determine whether it accepts the AccountChek VOA in
place of paper statements.
Q: WHERE IS MY VERIFICATION OF DEPOSIT?
The Verification of Deposit report is for depository institutions only. An investment institution (ex. Fidelity,
TD Ameritrade, etc.) is not a depository institution, and therefore no VOD will be created. The Verification
of Asset Report contains all the necessary information for these accounts and is accepted by the GSEs as
a substitute for the 1006.
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