Truv, a provider of automated employment and income verification technology for mortgage lenders, banks and credit unions, announced it is now a conditionally authorized report supplier for mortgage lenders using Fannie Mae’s Desktop Underwriter® (DU®) validation service. Truv’s consumer-permissioned platform will now be able to obtain and transmit income and employment data through the DU validation service.

Fannie Mae’s DU validation service uses third-party data vendors to independently validate borrower income, employment, and asset data, providing lenders with Day 1 Certainty® on validated loan components. By digitally validating secure third-party data through DU, lenders can help eliminate the paper chase and help get borrowers approved quickly.

What Our Partnership Means

While verifying borrower income, assets, and employment is an essential step in the mortgage process, it’s often riddled with challenges and inefficiencies. It doesn’t help that the incumbent continues to raise its prices at a time when mortgage lenders are already struggling with low volumes and rising costs.

As one of the housing industry’s largest sources of mortgage funds, Fannie Mae’s decision to conditionally approve Truv as an authorized report supplier for Fannie Mae’s DU validation service is perhaps the biggest indication yet that Truv has created a better way. 

What Makes Truv Special

Our consumer permission platform automatically verifies over 100 unique borrower income and employment data points submitted by borrowers from their payroll providers in real time. It’s compliant, user-friendly, and most importantly, turns one of the industry’s most expensive and time-intensive processes into a smooth experience for everyone. 

As a designated report supplier for Fannie Mae’s DU validation service, Truv helps lenders:

  • Minimize fraud and buyback risks with real-time data sourced directly from a borrower’s employer
  • Reduce operational costs by re-verifying borrower data at no additional cost
  • Accelerate loan processing, boost pull-through rates, and shorten closing times
  • Improve productivity by streamlining data collection for underwriting

Gaining the approval of Fannie Mae confirms our commitment to providing lenders with comprehensive technology that streamlines origination processes, reduces costs, and enhances borrower experiences.

Our Unique Approach

At Truv we do more than provide great technology. We’re also dedicated to putting consumers back in control of their own data. 

Unlike traditional verification providers, our platform enables borrowers to securely share their financial information directly from their payroll accounts. With 100% consumer consent and a user-friendly interface, Truv not only ensures data privacy and security, but also fosters greater trust between borrowers and lenders.

The Truv platform is also a game-changer for lenders’ bottom lines. At a time when the average independent mortgage bank is losing more than $1,000 per loan—according to the Mortgage Bankers Association’s latest research—lenders that use Truv’s all-in-one borrower verification platform are saving as much as $350 or more per closed loan. 

Embrace the Future with Truv

Make no mistake—efficiency and reliability are paramount in today’s dynamic housing market. Our collaboration with Fannie Mae is proof that Truv is making a real difference by delivering innovative solutions that drive efficiency and create better borrower experiences. 

If you are looking to streamline your loan processes, create happier customers, and save money, there’s no better partner than Truv. To learn more, reach out to us today.