National Credit-reporting System, Inc. (NCS ), a verification solutions provider within the mortgage lending realm, recently announced that it is now an authorized report supplier of 4506-T tax return verification (TRV Services) through the Desktop Underwriter (DU) validation service, a component of Fannie Mae’s Day 1 Certainty.
Exclusively available to Fannie Mae customers, Day 1 Certainty is freedom from paper-based processes associated with verification of assets, income, and employment. At its core, the Day 1 Certainty program provides rep and warrant relief when coupled with a verification by a Fannie Mae approved Day 1 Certainty vendor like NCS.
“Participating in Fannie Mae’s Day 1 Certainty program was a key NCS initiative for 2017,” said Curtis Knuth, EVP of NCS. “Lenders are very aware that the profitability of loan origination has tightened this year with the average loan manufacturing cost increasing to $8,887 in 2017 according to the MBA quarterly performance report. NCS solutions are engineered for clients to leverage our strengths in their mitigation of increasing production costs. NCS and our reseller’s growing engagement in the Day 1 Certainty program will continue to bear fruit for our clients in the coming months.”
In addition, NCS also recently announced that its Board of Directors have elected Curtis R. Knuth as President and CEO, effective November 1, 2017.
Knuth has served as EVP at NCS since 2010. Robert E. Knuth, the company’s founder, will resign from his role as President and CEO and become Chairman of NCS’ Board of Directors.
“The Board and I believe that Curt and the Executive Team have positioned the company upon a solid growth plan for the coming years,” said Robert Knuth. “Curt’s ethics and leadership capabilities will serve NCS and our clients very well. I’m quite proud of him.”
In his role as EVP, Curtis Knuth has played a critical role in the development of the company’s leadership team. He is also responsible for overseeing key strategic initiatives at NCS and regularly interfaces with government and industry resources for the firm.
“My father has been an incredible mentor to me professionally and personally,” said Curtis Knuth. “He has set an ethical leadership example at NCS, has mentored many in our industry and is well known for his humility, determination and thoughtful analysis on tough issues. As I assume leadership of the firm, we’ll work even harder to assist benefit providers in their determination of who they should lend to today, and in the future.”