TOPIC: Evaluation and Approval

Experian's Income Insight tool

Manager at a credit_union ($485MUSA)

We are in the process of reviewing Experian's Income Insight tool and are curious if others are using it for consumer loan underwriting. We are looking at the portion of the tool where the income pulls into the credit report itself. If you are using the product, how you are using it and how did you set policy/procedure for income verification? For example, is it being used more as a validation of what your members are stating they make so you don't need to request a paystub or are you using it in lieu of stated income? What do you do if the figures don't match?

Thank you!