Truv for Mortgage Lenders
Truv enables mortgage lenders to make better lending decisions with accurate and real-time access to consumer-permissioned income and employment data.
Trusted by Industry Leaders and Innovators
Verify Income and Employment
Industry Challenge
Mortgage lenders need access to accurate and real-time data to make more informed lending decisions, however, collecting the necessary data to access credit risk is time consuming. At the same time, borrowers demand a seamless origination and approval process that doesn’t involve the tedious process of uploading documents.
Truv Solution
By enabling your applicants’ to connect directly to their payroll account, Truv provides you verified identity, income, and employment data points that you need within 60 seconds. Moreover, Truv enables you to approve more applicants by enabling them to pay their loan directly from their paycheck thus enabling you to lend to more applicants.
How Truv Works
User selects their income source through either their employer or payroll provider
User signs in to enable access to their payroll account to another organization
The connection is successfully established and the data is available via API and the Truv dashboard
How the Top Mortgage Lenders are Using Truv Today
Access Employment History Data
View job title, company name, start date, and end date for multiple jobs stored within a single payroll provider.
Verify Applicant Identity
Confirm that the applicant’s full name, SSN, email, date of birth, and home address match what was provided.
Verify Applicant Income
To supplement a traditional credit score, verify an applicant’s income to assist with alternative credit scoring decisions.
Verify Applicant Current Employment
Confirm that the applicant’s current employment is active.
Paycheck-Linked Loans
Incentivize applicants to pay their monthly loan balance directly from their paycheck, thus significantly reducing your amount of assumed risk.
Extend Your Consumer Base
About 20% of U.S. adults are credit invisible and can’t be evaluated using traditional credit reporting. Truv provides you with verified data to be able to do so.
Verify Account & Routing Number
Verify an applicant’s account and routing number to facilitate automatic payments directly from their bank account.
Document Upload
Truv also enables you to verify income and employment by uploading paystubs and W2 documents through our AI and machine learning algorithms.
Best-in Class Coverage
We successfully connect to payroll accounts and employers covering over 85% of working Americans.
96%
coverage of Fortune 1000 companies
50+
supported payroll providers
12,800+
direct employer integrations with 2.3M employers
Truv is Enterprise-Ready and FCRA Compliant
Automate Income & Employment Verification with Truv
Let’s partner together to accomplish your business objectives