Frequently Asked Questions

IMARC verifies employment, income and deposit information. IMARC is a one-stop shop for complete data verification, offering both automated and manual verifications of employment, income and assets. In addition, we offer a full range of loan audit services, including fraud audits and delinquent loan reviews. You can find answers to our most frequently asked questions below. If you have additional questions, contact us at (877) 722-7632.

Q: What types of assets does IMARC verify?

A: IMARC verifies that bank statements are true and accurate. We reverify the bank statements of all major bank statements, as well as bank statements from regional banks and credit union statements, plus retirement statements and investment accounts.

Q: For bank statement reverification, why not just use BankVOD?

A: BankVOD does a great job for the portion of depositories that verify through them, such as Bank of America and Wells Fargo. However, that leaves many other banks and credit unions where you will need to manually handle the reverification directly with the bank. That involves obtaining information about where to send the fax and if there are any charges for verification. We handle that whole task, so you don’t have to.

Q: Is borrower authorization required?

A: Yes. It must be signed by the borrower and current.

Q: What if we don’t have an authorization?

A: IMARC cannot verify an account without written consent, signed by the borrower.

Q: What documents must be uploaded?

A: At a minimum, the signed authorization and the bank statement(s) to be verified.

Q: How are files uploaded to IMARC?

A: Once you become an IMARC client, you will be given credentials for a Sharefile service by which you can securely upload files.

Q: How does IMARC verify employment?

A:  IMARC calls employers to get secure fax numbers and the name of the HR contact to which the verification should be directed. IMARC follows strict protocols to assure privacy and protection of data.

Q: Why not just use The Work Number or DataVerify instead of IMARC?

A: The Work Number and DataVerify handle automated verifications on a large, but still minority share of the employers in the U.S. IMARC handles both the automated verifications in addition to the ones that require manual effort. We enter the proper data, send out the verifications in a timely manner, then conduct follow up to make sure that we have a high success rate. In addition, IMARC will review the responses and recalculate ratios, based on the information obtained. Think of IMARC as an easy one-stop-shop for all your verification needs.

Q: Does IMARC use The Work Number?

A: Yes. IMARC will determine whether the verification is eligible for The Work Number (or other automated services) and will send on your behalf. Then the report will be forwarded to you.

Q: What does IMARC’s service cost?

A: Pricing is based on volume and other discounts, including prepayment. Call IMARC at 877.722.7632 to discuss your needs.

Q: What is typical turnaround time?

A: That depends on the level of due diligence that you require. Some clients ask for shorter turnaround times with fewer follow-up efforts; other clients go out as far as 20 business days with extensive follow-ups. We can tailor our services for your needs.

Q: If a reverification is unsuccessful, how can I tell if a good effort was made?

A: IMARC keeps strict records of all phone follow-ups and correspondence. Furthermore, we adhere to your definition of expected effort – including both the number of follow-ups and the timing of those efforts.

Q: How does IMARC protect my data?

A: IMARC’s security satisfies our strictest customers, our publicly traded insurers and lenders.

Q: Does IMARC get secure fax lines to verify data?

A: IMARC, as part of our verification process, contacts employers and banks by phone to get secure fax numbers. We take seriously our duty to protect non-public information.