Truv’s integration with Lodasoft is transforming the verification process for mortgage lenders by empowering them to capture borrower Verification of Assets (VOA) and Verification of Income and Employment (VOIE) directly inside the loan application. To accelerate the loan cycle more, Truv’s verification data automatically flows from Lodasoft to your loan origination system, enabling a seamless cross-platform workflow.
lnstead of disrupting existing processes, Truv’s integration with Lodasoft works behind the scenes to connect platforms your loan officers work in daily, turning otherwise manual tasks into instant, accurate data transfers that keep loan files moving.
Follow-Up Task for VOIE and VOA
When a borrower skips the embedded income and employment and/or asset verification process during the initial application, nCino automatically generates a task for the borrower as an outstanding to-do in both the loan officer and borrower portal views. This ensures no verification steps are missed while providing borrowers the flexibility to complete verifications at different stages of the process.
Automated Report ID & Document Transfer to LOS
Truv’s VOIE and VOA Report IDs are transferred seamlessly between systems, ensuring reference numbers populate in the corresponding LOS fields for submission to automated underwriting systems. Additionally, Truv reports, invoices, and income documents are available inside the LOS automatically.
Re-Verifications in the LOS
Whether borrowers complete VOIE and VOA upfront in Lodasoft during the application, or post-submission as a follow-up task, 10-day pre-closing verifications and additional VOA reports can be generated inside the LOS. Truv is available cross-platform to streamline the workflow and flow of data from system to system.
Market-Leading Rep and Warrant Relief
Truv VOIE and VOA reports are built to GSE requirements and automated underwriting systems. We are an authorized report supplier for Fannie Mae’s Desktop Underwriter® (DU®) validation service and have expanded our integration with Freddie Mac’s Loan Product Advisor® (LPA®) asset and income modeler (AIM) to now assess income, employment, and assets using financial accounts data. Truv provides lenders with the market’s leading buyback protection: Three out of every five loans using Truv’s VOIE reports receive representation and warranty relief.
Success-Aligned Pricing for Lenders
With our approach, you can generate Truv’s VOIE and VOA reports throughout the loan process without worrying about additional charges, paying only when the loan closes. Check income, employment and assets in the loan application, reverify employment before closing from the LOS, and pull additional asset reports as needed.
Ready to Get Started?
Our streamlined implementation matches the simplicity of our verification process: fast, easy and intuitive, enabling you to verify borrowers quickly and efficiently.
Contact our team today to learn more!
