We're excited to announce report-based invoices, introduced alongside enhancements that align your verification spend with the loans that actually fund and extend greater transparency to one of the most important parts of our relationship: how you're billed.
The problem with task-based pricing
Legacy verification vendors often bill on a per-task or per-report basis. Every report pulled, every re-verification run, and every data source connection attempted in a waterfall adds another line item, including the applications that never make it to closing.
The result? Lenders are forecasting against verification activity instead of funded volume, and lending teams are positioned to weigh the cost of verifying against speed and efficiency. Neither outcome serves the lender or the borrower.
Report-based invoices with applicant and connection aggregation
Alongside the new billing model, we've rebuilt invoices to roll up at the report level rather than fragmenting into dozens of individual task charges.
Each Truv Report now aggregates all applicants on the loan — borrower and co-borrower — and all of the connections behind them, whether that's payroll providers, employers, financial accounts, or document processing. Now, you see consolidated line items tied to the loan and report they belong to. The invoice reads the way your business thinks about loans and verifications: by file, by report, and by funded loan.
Built to work with your Encompass pipeline
For lenders on ICE Mortgage Technology's Encompass, Per Closed Loan billing fits seamlessly into your existing workflow. Truv connects to your pipeline to recognize funded loans automatically, so closed-loan billing happens without manual tracking, spreadsheets, or month-end back-tracking and manual reporting work on your side.
More predictability for your bottom line
With Truv, lenders billed per closed loan now have report-level invoices, so forecasting is easier, budgeting is cleaner, and the cost of verification is transparent, not a moving target.
It's the same principle that drives everything we build at Truv: replace legacy pricing models and remove multi-vendor relationship complexity with one platform that's clear about what you're buying, what you're getting, and what it costs.
Truv will continue investing in transparency across our platform — in our data, our coverage and conversion benchmarks, and now in how we bill — because doing what's right for our customers comes first.
