In Truv’s webinar, Strategies to Maximize The power of Day 1 Certainty, Femi Ayi, EVP of Operations at Revolution Mortgage said, “Mortgage companies really need to move from document companies to data companies.” As a digital-forward lender saving thousands of dollars per month on verification costs, the shift from document-based verifications to consumer-permissioned data verifications has proven to be transformative. The transformation isn’t just about cost savings and process efficiency, though – it’s about reimagining how lenders approach verifications to the benefit of the entire loan lifecycle.

Truv’s in-house income, employment, and asset verification platform, is changing the way lenders handle verification at every stage of the loan process. See how Truv’s data-first approach creates measurable improvements for lenders from application to post-closing.

The Point of Sale: Upfront Data Capture

Gone are the days and weeks spent back-and-forth phone on calls with borrowers, requesting documents and manually processing income and employment verifications. Truv’s verification technology allows lenders to skip that step entirely when they already have access to the information through data connections – beginning the moment a borrower applies. Through seamless POS integrations, including nCino, Tidalwave, LenderLogix, Lodasoft, Floify, BeSmartee and Blue Sage, borrowers can connect directly to their payroll providers during the application process.

This isn’t just about convenience—it’s about creating what industry professionals call “immediate certainty.” When a borrower has multiple income sources or multiple accounts to verify funds for closing, Truv’s solution simplifies the data into complete reports, approved by GSEs for higher lending confidence and faster stages of the loan cycle. The result? Eliminated back-and-forth emails, reduced phone calls, and automatic document population right in the system loan officers are working in that starts the underwriting process immediately upon application submission.

Processing Efficiency: Eliminating the Redundancy Trap

The processing stage is where the true operational benefits of data-driven verification become apparent. When verification data flows directly from source systems, processors no longer need to place orders for multiple and/or costly third party services. Consider the time savings alone: instead of waiting for traditional verification responses, W-2s, pay stubs, and VOIE  Reports, VOA Reports, they all automatically populate in the loan file’s document tab the moment the application is submitted. This isn’t just faster—it’s fundamentally more reliable.

Truv’s VOA solution includes a 12-month account history at no extra charge for verification and can be used to verify income, employment, assets all-in-one report. Truv’s reports include automatic tagging of information, including rental history payments, that often makes the difference between a refer/eligible and approve/eligible decision for GSEs. For lenders stuck in what Femi referred to as “the debt shark” of traditional processes, Truv’s expanded data access can convert files that would have otherwise been rejected. The cost benefits extend directly to borrowers as well, with verified data eliminating redundant verification expenses that have historically been passed through as closing costs.

Underwriting Transformation: Speed Meets Accuracy

In an industry where 30-day contracts are becoming 20-day contracts, and 20-day contracts are becoming 15-day contracts, every minute matters in underwriting. Direct-to-source data verification addresses eliminates what Femi describes as the “check the checker” mentality. When income calculations come with data certainty, underwriters don’t need to re-validate calculations that have already been verified at the source.

This eliminates a frustrating cycle: loan officer calculates income, loan officer assistant recalculates, processor reviews it again, underwriter changes it, and then someone raises a flag about it down the line again. With Truv’s verified data, the information is reliable. The time savings are measurable: some lenders see 20 to 60 minutes faster per file, purely by eliminating redundant validation steps. Operational overhead drops tremendously, improving efficiency end-to-end.

Post-Closing Assurance

Consumer-permissioned verifications provide significant long-term benefits to lenders at the post-closing stage of the process.  During loan quality reviews, some of the top findings that GSEs have cited are inconsistent or incorrect re-verifications. With Truv, lenders gain a permanent audit trail where verified data follows the loan as a record and serves as the definitive source of truth. For lenders, this means protection from post-delivery review costs and potential buyback risks related to verification defects.

Today, three out of every five loans using Truv’s verification of income and employment reports receive representation and warranty relief, providing lenders with unmatched buyback protection—a testament to Truv’s dedication to client success. When income, employment, or asset data comes from Truv, a GSE-approved report provider, lenders eliminate the need for post-closing re-verification—one of the most time-consuming and error-prone aspects of traditional loan processing.

Implementation: Successful Change Management

With consumer-permissioned verifications, implementation remains the biggest challenge for many lenders (as to be expected with any new technology and process adjustment). Truv customers, including 150+ lenders, are seeing the most success with consumer-permissioned verification solutions stem from a combination of top-down leadership with bottom-up buy-in, clearly explaining the “why” behind process changes and demonstrating real benefits to all parties in the lending process through intentional change management strategies.

By partnering with Truv on trainings and best practices, lenders can expect market-leading conversion rates, tremendous cost savings, a suite of dependable products backed by the market’s highest quality data.

For more information on Truv VOIE & VOA, contact our team today.