Truv is thrilled to announce that our LenderLogix point-of-sale integration just got an upgrade by introducing our full asset verification functionality alongside our existing income and employment verification solution, delivering lenders a complete verification ecosystem within a single platform.
Introducing Truv Verification of Assets in LenderLogix
By incorporating verification of assets into LenderLogix, Truv eliminates the complexity of managing multiple verification vendors and disparate systems. Lenders can now access employment, income, and asset data through one streamlined solution, accelerating processing timelines while elevating the borrower journey with verification data sourced directly from financial institutions.
How it Works: Follow-Up Task Flow
When a borrower submits their loan application, LenderLogix automatically generates a task for the borrower to verify income, employment and assets via Truv automatically. This ensures no verification steps are skipped and lenders are able to review all critical underwriting data upfront in the loan process.
Automated Report ID & Document Transfer to LOS
Truv Report IDs auto-flow from the point-of-sale to Encompass, ensuring reference numbers populate in the corresponding LOS fields for seamless submission to automated underwriting systems. Truv reports, invoices, and income documents are also made available inside the LOS with no manual lift.
Re-Verifications in the LOS
Truv is available cross-platform to streamline the workflow for team members. Borrowers can complete VOIE and VOA upfront in LenderLogix and 10-day pre-closing verifications refresh reports, and DVOE reports can be generated from the LOS.
Success-Aligned Pricing for Lenders
With Truv’s lender-aligned pricing model, you only pay for successful verifications when the loan closes.
Advantages of Truv Verification of Assets
Truv’s asset verification technology delivers a comprehensive report instantly, including customizable deposit details, account type, account balances, asset summary, and transaction flagging.
Comprehensive Coverage with Advanced Security Protocols
- Extensive institutional network: Connection capabilities spanning 13,000+ financial institutions enable smooth account linking for virtually all borrowers
- Superior security standards: Over 75% of Truv’s connections utilize oAuth a standard for secure authorization that enables the access of borrower financial data without sharing of bank credentials, safeguarding borrower information while ensuring frictionless access
- Premium data integrity: Direct connections to financial institutions minimize manual documentation requirements, including numerous bank statements per borrower
Truv Template Configuration
- Brand personalization: Tailor borrower communications with your organization’s unique branding elements and custom messaging
- Adjustable parameters: Set regular and large deposit thresholds according to your specific underwriting requirements
- Comprehensive historical access: Retrieve configurable transaction records extending up to 24 months of borrower financial activity
Flexible Report Options
- Deposit-based verification for employment (DVOE): DVOE reports analyze transactions to verify employment status through recent payroll deposits on loan files that used Truv VOA for income & employment verification initially
- Skinny reports: Excludes large deposit entries, asset summaries, transaction details, and current account balances when refreshing verification data
Get Started
Truv’s comprehensive verification capabilities are now accessible through our LenderLogix integration, enabling mortgage professionals to optimize their verification processes, starting directly in the point-of-sale. The Truv Team can enable lenders to go live quickly.
Connect with the Truv team today to get started!
