Argyle, a provider of direct-source income, employment and asset verifications, has launched Doc VOI, a new paystub and W-2 based income verification report integrated with Freddie Mac’s AIM Check API.
Lenders are cutting costs and gaining fast, automated income verifications from uploaded paystubs and W-2s when direct payroll or banking connections are not available. The launch also helps mortgage lenders unlock rep and warrant (R&W) relief from Freddie Mac on income calculations derived from documents, the company says in a release.
Argyle can retrieve paystubs and W-2s directly from the eFolder within ICE Mortgage Technology’s Encompass loan origination system and through the Argyle API for lenders with proprietary systems.
Doc VOI then uses optical character recognition (OCR) technology to extract key income data and submits that data to Freddie Mac’s Loan Product Advisor (LPA) AIM Check for assessment. Within minutes, Argyle returns the automated income assessment results in a clear, structured report delivered directly into the LOS.
Doc VOI provides visibility into an applicant’s AIM-eligible income earlier in the loan origination process without waiting for a full LPA submission or resorting to traditional manual reviews.
Doc VOI complements Argyle’s direct-source payroll and banking verification solutions (VOIE, VOE, VOA), which are also integrated with Freddie Mac’s Loan Product Advisor AIM as well as with Fannie Mae’s Desktop Underwriter validation service, a component of Day 1 Certainty.
Together, these capabilities provide comprehensive coverage across applicant profiles, giving providers more tools to meet GSE eligibility requirements and improve the applicant experience, the firm says.
“Argyle’s Doc VOI integrated with Freddie Mac’s AIM Check enables mortgage lenders to maximize their verification waterfall,” says Brian Geary, COO of Argyle. “By combining payroll, banking and docs, Argyle enables customers to run their entire waterfall through one provider, driving more qualifications, less manual work, and higher conversion.”