Truv has expanded our Lodasoft integration, now providing lenders access to not only income and employment verifications, but also comprehensive asset verifications—creating a unified platform for all critical loan verification needs.
Transforming Mortgage Lending with Truv Verifications
With the addition of VOA, Truv now offers lenders an all-in-one verification solution inside the loan application, eliminating the need for multiple vendor relationships and multiple systems. This complete solution reduces processing times, enhances borrower experience, and provides lenders lending confidence that comes with direct-to-source verification data.
Unveiling Truv’s Verification of Assets in Lodasoft
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. To compliment the flexibility of Truv’s Income and Employment Verification solution in Lodasoft, Truv’s Asset Verification solution is can be setup in two flows:
- Embed in the loan application
- Auto-generate follow-up tasks post loan application submission
Now, borrowers can experience an easier and faster application process, completing all necessary verifications tasks in a matter of seconds, without chasing down paystubs, W-2s, and bank statements.
Key Benefits of Truv’s VOA Solution
Market-Leading Coverage and Security
- Industry-leading coverage: 13,000+ financial institutions ensures borrowers can seamlessly connect bank accounts
- Enhanced security: 75%+ OAuth connections prioritize borrower data security while maintaining seamless connectivity
- High quality data: Direct-to-source connections eliminate the need for manual document collection and reduce verification delays
Template Customization
- Custom branding: Personalize borrower notifications with your institution’s branding and messaging
- Flexible thresholds: Configure regular and large deposit thresholds to match your lending criteria
- Extended transaction history: Access configurable transaction history for up to 2 years of borrower financial data
Report Customization
- Deposit-based verification of employment (DVOE): Returns a focused report specifically designed to re-verify employment for loans that initially verified employment via assets
- Refresh reports: Omits large deposits, asset summary, transactions, and account balances
Get Started With Truv in Lodasoft
Truv’s verification solutions are available immediately through the integration, empowering mortgage lenders to improve the verification workflow directly at the point of sale in Lodasoft. Reach out to the Truv team today!
