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Lenders need to validate their subject property address to ensure that it is indeed a real location. They typically do this by going to the USPS website, manually entering the address, and clicking the “Verify” button. They then enter the results into Encompass.
The USPS Verification tool was created to rid yourself of your old manual address validation process and bring some automation into your workflow. All you need to do is make sure the Subject Property Address is filled out (the zip code isn’t even required), go to the “LTK – USPS Validation” form, and click the “Verify Address” button. This will verify the address with USPS, and if you click the “Yes” button in the popup, it will automatically update the Subject Property Address with the valid address USPS uses.
When it comes to verifying addresses, lenders know this manual process can be time consuming and inefficient. The USPS Address Verification tool will save you at least 5 minutes per loan, which can add up very quickly.