One Order. Comprehensive Verification.
Truv's latest enhancement to Encompass orders enables loan teams to request multiple verification products together: Verification of Income & Employment (VOIE) and Verification of Assets (VOA) — in a single, unified order view.
What's New
Previously, loan officers and order managers in Encompass would create individual orders for each verification product type, one for income and employment, another for assets. With multi-product ordering, both can be initiated simultaneously from a single order within Encompass. Once the order is placed, the borrower's landing page includes their employers and financial institutions displayed together in a consolidated order view, streamlining the digital account linking process.
Benefits for Loan Teams
Streamlined order creation workflow. With fewer orders to create, tracking and managing the verifications per loan file in one view means less time spent on administrative tasks and more time focused on accelerating the clear to close.
Consolidated order visibility. All requested employers and financial institutions appear within a single order view, showing status of connections per account. Loan officers and order managers no longer need to cross-reference orders to get the full financial picture.
Faster processing. By initiating all verifications at once, loan teams can reduce back-and-forth delays and help move files through underwriting at speed.
Benefits for Borrowers
A simplified verification request. Borrowers now receive a single email and/or sms notification for all verification requests rather than multiple requests or notifications across different points in the process, improving conversion, completion rates, and the speed at which critical underwriting data is shared. No paperwork, just quick account logins.
Faster loan approvals. When income, employment, and asset data are gathered simultaneously, the overall time to verification is shorter — which means borrowers get answers sooner and can move toward closing with peace of mind.
Fewer touchpoints. Borrowers are empowered to connect their employer and financial accounts in one go, so that the one-time verification process captures everything needed in that single session, minimizing friction and steps in the process.
Getting Started
For Truv's lenders on Encompass, in the Orders page in Encompass, the multi-product order option — Verification of income & assets — is available in the product type Product type dropdown when creating a new order. Once the order details are completed with requested accounts, Truv auto-sends the email and/or sms notification to the borrower.
For Truv's lenders who leverage Truv's Automated Service Ordering (ASO) feature, automating orders to trigger based on loan milestone or conditions send with both verification types can be setup in Truv Templates in Truv Dashboard.
Contact the Truv Team to learn more.
