Prosperity Home Mortgage reduced income and employment verification costs by 90% over legacy verification providers.

Overview

Prosperity Home Mortgage, LLC (PHM), a subsidiary of HomeServices of America, a Berkshire Hathaway affiliate, is one of the top 15 retail mortgage lenders in the United States, as ranked by the Scotsman Guide. PHM is consistently ranked at the top of the industry's most prestigious customer service rankings, reflecting its unrivaled commitment to delivering an exceptional customer experience for the 25,000+ borrowers they serve annually.

The lender funds over $8 billion annually in production while employing 450+ producing mortgage consultants, achieving among the highest productivity per mortgage consultant in the mortgage industry.

In early 2024, PHM partnered with Truv to modernize income, employment, and asset verifications. Through their partnership—now spanning a year and a half—PHM implemented Truv across its enterprise systems, beginning with Verification of Income and Employment (VOIE) via Lodasoft point-of-sale (POS), and later expanding to a company-wide rollout of Verification of Assets (VOA) in August 2025.

Challenge

In 2021, Prosperity Home Mortgage faced rising loan origination costs, primarily driven by legacy verification services that charged up to $123 per borrower per verification—resulting in total verification costs exceeding $492 for closed loans with more than one borrower where an initial and pre-closing verification were necessary for each. The lender’s leadership identified a pressing need to reduce per-loan verification costs, improve operational efficiency, and enhance the borrower experience without over-complicating the application process or sacrificing loan quality.

Additionally, prior attempts to adopt consumer-permissioned verification had been underwhelming, with low borrower conversion rates and limited point-of-sale integration capabilities. Prosperity needed a modern, scalable solution that could:

• Taper verification spend - Lower verification costs dramatically
• Enhance borrower experience - Improve borrower adoption by simplifying the account linking process and using messaging throughout that builds trust in the process
• Cross-platform portability - Integrate with their POS while seamlessly allowing them to access and interact with those same reports in their LOS without any loss of functionality or needing to reengage with the borrower
• Deliver in-depth reporting and analytics - Provide transparent and accessible real-time insights on verification orders to allow PHM to continuously monitor for potential issues and opportunities to drive further adoption
• Ensure robust security and compliance - Work with a verification provider that adheres to the highest industry security standards and protocols, including SOC 2 Type II certification, to protect sensitive borrower data and maintain regulatory compliance

Solution

Following a thorough vendor vetting process, PHM chose Truv as its primary provider for Verification of Income & Employment (VOIE) and Verification of Assets (VOA). With cost savings, data security, borrower experience, and workflow efficiency as core requirements, the lender implemented Truv’s consumer-permissioned verification platform directly into its point-of-sale system (Lodasoft), positioning Truv at the top of the waterfall for all verification workflows.

Through close collaboration with Truv’s product teams, PHM launched a personalized conversion optimization plan focused on:

• Borrower education and trust-led workflow
• Customized in-app messaging and user experience
• Streamlined account linking experiences
• Continuous improvements driven by data analysis
• Custom features built to bridge gaps, address user feedback, and resolve pain points

The results were transformative:

Truv’s VOIE solution immediately delivered comprehensive income and employment data that PHM now uses across their entire loan portfolio. Unlike other vendors, Truv provides original paystubs and W2s for every successful verification, giving the PHM team access to complete documentation that supports requirements for various loan product types. PHM now leverages Truv’s returned data on 100% of loan files, whether they’re headed to agency, non-QM, or other investors. Byrom said, “By grabbing the paystubs and W2s as part of their VOIE product, in addition to having the VOA to use as bank statements, Truv gives us the opportunity to hit a home run of simplicity and efficiency on every loan regardless of investor.”

Building on the success of VOIE, in August 2025, PHM expanded its partnership with Truv to include Verification of Assets (VOA), harnessing Truv’s real-time financial data connectivity to accelerate underwriting, streamline workflows, and minimize borrower documentation requests.

PHM currently achieves an 80% login conversion rate with Truv’s Verification of Assets (VOA) integrated within its Lodasoft point-of-sale system, exclusively using an embedded workflow that requires no prompting or coaching by the mortgage consultant.

With the addition of Truv’s Verification of Assets (VOA), PHM has seen measurable increases in income and employment validation rates through Fannie Mae’s Single Source Validation (SSV) and Freddie Mac’s Asset Income Modeler (AIM) programs, further expanding their rep & warrant relief opportunities and purchase eligibility.

Additionally, PHM has increased the use of Truv’s deposit-based verification of employment (DVOE) reports with Truv’s VOA solution to streamline pre-closing requirements. The intuitive, user-friendly interface empowers sales and ops to refresh only the necessary data on demand, eliminating delays and anxiety as loans near closing. Byrom added, “When Truv is part of the equation, we can reduce our clear to close timeline from days to minutes — and all at a fraction of the cost compared to legacy verification providers.”

Outcomes

At a Glance:

More than 90% Cost Savings Over Legacy Verification Providers

Truv’s direct-to-source verification model reduced PHM’s per-loan verification costs by more than 90% compared to legacy verification providers, which translates into millions in annual savings across PHM’s 20,000 annual loan fundings.

Conversion Rate

Through targeted optimization, Truv is able to drive stronger pull-through rates and smoother borrower journeys.

• VOIE: 70% login conversion rate
• VOA: 80% login conversion rate

Borrower adoption also surged as 85% of applicants now attempt to link accounts, delivering on the promise of simplicity and trust in the process.

Cross-Platform Experiences

For loans where borrowers complete income, employment, and asset verifications in the point-of-sale, Truv automatically makes this data available within PHM’s loan origination system, enabling seamless reverifications and 10-day pre-closing verifications (PCVs).

This platform-agnostic, fully streamlined experience is a key differentiator that sets Truv apart from all other vendors in the verification space. Byrom added, “Not only is every verification performed in the POS seamlessly and immediately available in the LOS, but you can also interact with it the same as if you had started it in the LOS to begin with… It’s not just seamless, it’s an astonishingly complex solution delivered in the most simple and elegant way possible for our users.”

Implementation, Support & Custom Features

Truv’s white-glove onboarding process ensured seamless integration into PHM’s systems. The Truv team collaborated on borrower messaging, user experience improvements, and technical adjustments, ensuring both fast time-to-value and smooth adoption by PHM’s borrowers and mortgage consultants.

White-Glove Partnership and Ongoing Support

From the earliest conversations, PHM viewed Truv as a true technology collaborator, not just a vendor.

Truv’s product and customer success team worked closely with PHM to:

• Rapidly deploy Truv into Lodasoft
• Offer custom feature enhancements tailored to PHM’s needs
• Provide swift response times for escalations and ongoing system tuning
• PHM & Truv collaborated with Fannie Mae & Freddie Mac to increase representation and warranty relief
• Develop a conversion-optimized borrower experience
• Tailor enablement and educational materials to drive internal adoption

This collaborative approach created lasting trust and measurable ROI across PHM’s verification ecosystem.

Conclusion

Prosperity Home Mortgage’s partnership with Truv demonstrates that strategic technology adoption can meaningfully transform the lending experience. By combining cost efficiency, borrower trust, and seamless integrations, PHM has set a new benchmark for modern, consumer-permissioned verification in mortgage lending.

As lenders continue to seek ways to reduce origination costs while maintaining compliance and borrower satisfaction, PHM’s blueprint provides a clear path forward: partner with technology that evolves with your needs.

About Prosperity Home Mortgage

Prosperity Home Mortgage, LLC, (NMLS ID #75164) a subsidiary of HomeServices of America, a Berkshire Hathaway affiliate, is one of the nation’s largest full-service mortgage bankers. Headquartered in Fairfax, Virginia, PHM operates in 48 states and D.C., serving thousands of borrowers each year with a focus on purchase lending and real estate partnerships.
Visit: phmloans.com

About Truv

Truv empowers 150+ lenders to instantly verify income, employment, and asset data directly from the source. With best-in-class coverage, configurable workflows, and a focus on consumer-permissioned data, Truv helps financial institutions streamline underwriting while dramatically reducing costs. Truv's full suite of solutions provides GSE-eligible reports for submission to Freddie Mac and Fannie Mae, protecting lenders from buyback risks and delivering market-leading data quality. Learn more at truv.com