Truv announced that it partnered with XactusSM to further enhance Xactus’ verification capabilities. This partnership will continue to accelerate Truv’s mission of enabling a more equitable financial ecosystem through its API connections to payroll accounts.
Mortgage lenders need access to income and employment data to assess risk for applicants, however, collecting this data can be time consuming and extremely expensive. Through this partnership, Xactus’ current verification capabilities will be augmented with Truv’s consumer-permissioned data approach to income and employment data. Doing so will allow mortgage lenders to verify income and employment for more than 146 million U.S. employees covering over 85% of the U.S. workforce.
Focused on improving the mortgage process, Truv has built 12,800+ unique integrations to payroll providers and employers, gaining access to more than 100 fields of income and employment data for over 85% of the U.S. workforce. Today, Truv partners with mortgage lenders to quickly and easily verify income, employment, and identity data for applicants which meets consumers’ expectations of a streamlined approval process.
“Truv couldn’t be more excited to partner with Xactus to empower thousands of mortgage lenders with access to consumer-permissioned income and employment data,” said Truv’s Founder & CEO Kirill Klokov. “We’re confident that this partnership will enable mortgage lenders partnered with Xactus to speed up the mortgage approval process while decreasing costs relative to current verification methods.”
“On Xactus’ quest to advance the modern mortgage, we are looking for like-minded, progressive partners and found that in Truv. Our relationship with Truv has further enriched our verification solution through its direct connections to payroll providers via APIs which create greater efficiencies and reduce risk of fraud,” said Michael Crockett, Chief Data Officer at Xactus. “We look forward to seeing strong results for our mortgage lenders as they implement Truv into their existing workflows to verify more of their applicants.”