Truv is thrilled to share our enhanced integration with Encompass, delivering powerful new verification capabilities to lenders through the industry-leading loan origination system (LOS). We’ve expanded our product offering to include not only income and employment verifications (VOI and VOE) but now also verification of assets (VOA)—all accessible directly within Encompass. Discover how the expanded integration can transform your operation, increase efficiency, and accelerate decision-making without ever leaving your LOS environment.

Unveiling Truv’s Verification of Assets in Encompass

Our direct-to-source asset verification solution provides real-time data by connecting borrowers to their financial institutions in a matter of seconds, significantly streamlining your lending workflow from application to closing.

Similar to Truv income and employment verifications, Truv’s VOA offers a similar experience: borrowers receive a link via email or SMS that opens the Truv Bridge, enabling a fully digital, easier and faster verification process to minimize the hassle of collecting bank statements.

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Benefits of Truv: The all-in-one, complete solution for lenders

1. Verification of Assets (VOA)

We’ve expanded our product offering within our Encompass integration to give lenders access to not only income and employment verifications, but also asset verifications.

  • Truv leads the market with expansive coverage, including 13K+ direct-to-source bank account connections, while prioritizing borrower security with 75%+ oAuth connections.
  • With free data refreshes for up to 90 days, data can be refreshed inside Encompass automatically with the click of a button – without borrowers having to re-engage.
  • Similar to Truv’s income and employment verifications, Truv’s asset solution is fully customizable in Truv templates, including:
    • Branding and messaging on borrower notifications
    • Regular and large deposit thresholds
    • Configurable transaction history (up to 2 years)
  • Deposit-based verification of employment (DVOE) report: In Encompass, ‘Deposit-based verification of employment (DVOE)’ can be selected under ‘Product type’ when refreshing a VOA order. This returns a shortened report used to re-verify employment for loans that initially verified employment via assets. This report omits large deposits, asset summary, transactions, and account balances.

2. Verification of Income & Employment (VOIE)

Truv provides lenders real-time income and employment data, directly from the source – borrowers payroll provider(s) so that lenders gain instant insight into ability to repay, faster, easier, and more cost-effective than before.

  • Truv leads the market with 96% coverage of the US workforce, ensuring 2.3M+ employers, spanning various industries from gig to healthcare, are covered within our network.
  • Tap into a broad set of fully customizable suite of features optimize conversion, including data retrieval customization such as configuring the number of paystubs and W2s required, and branding and messaging on borrower notifications with Truv templates.

3. Document Upload & Processing

Truv’s proprietary document upload solution serves as a fallback solution to payroll VOIE. Advanced AI examines thousands of data points to detect tampering with 99.9% accuracy, protecting lenders from fraud, restoring tampered fields, and altering lenders of suspicious activity.

  • Truv is integrated with Freddie Mac’s AIM Check API, and can deliver LPA’s instant and automated assessment of paystubs and W-2 data for lenders to use for their calculations of qualified income.

The Truv difference

Truv’s all-in-one verification platform is designed with a range of benefits for lenders, including:

  • One platform, many data sources (payroll, financial accounts, documents)
  • Homegrown suite of verification solutions, each built and enhanced from the ground up
  • One vendor relationship, a dedicated Customer Success Manager, and a full team accountable for your success
  • Simple pricing aligned to your core metics
  • Streamlined borrower experience across all verifications

Multiple verification products, easy go-live

With ease of use and accessibility always top of mind for Truv, lenders can enable Truv products easily – in minutes – avoiding implementation delays and tapping into verifications immediately. It’s easy: configure settings in just a few clicks!

For Truv clients who are already have Truv enabled in Encompass, no additional set up is required. Reach out to your dedicated Customer Success Manager to have VOA turned on.

What does the integration enhancement mean for lenders?

With the seamless integration:

  • Lenders can solve for VOIE and VOA directly inside Encompass with one platform.
  • Underwriters can trust that the verification of income, employment and/or asset data is reliable, improving decision speed and accuracy.
  • Processors experience increased efficiency minimizing the paper chase and additional human intervention.
  • Loan officers gain time back to focus on what they do best: building relationships with borrowers and delivering best-in-class customer service.
  • Borrowers experience easier and smoother loan approvals without the paper chase.

What’s next?

Today, Truv’s VOA solution in Encompass is available via manual and automated (ASO) workflows – similar to the flexibility lenders have today with Truv’s VOIE solution. As the needs of mortgage lenders and borrowers evolve, so do our solutions. We’re committed to continuing to improve our platform with new features to optimize mortgage lending.

Reach out to the Truv team to get started with asset verification in Encompass!