Third Party Verification (TPV)

Third Party Verification (TPV)

Third Party Verification (TPV) refers to a process through which a Mortgagee may use a third party vendor to independently verify information in a loan application or otherwise required for loan approval. TPV can be used to verify employment, income, assets, credit, and occupancy. Tier Ranking System (TRS) The Tier Ranking System (TRS) II is a methodology for quantifying a Mortgagee’s performance in complying with HUD’s Loss Mitigation and Delinquent servicing policies. Tiered Pricing points from the Mortgagee’s reasonable and customary rate for insured Mortgages for dwellings located within the area.