Argyle, offering automated borrower income and employment verifications, reports that it added 50 new IMB, credit union and bank customers to its platform in 2023.
“Argyle is proud to close the year as the fastest-growing and highest-converting automated income and employment platform available to mortgage lenders today,” says Brian Geary, chief commercial officer for Argyle, in a release. “We are helping lenders weather the storm of this challenging market cycle by making a material impact on the bottom line. As we approach the new year, our customers can count on Argyle to continue investing heavily in mortgage as we look to drive our conversion rates even higher, build deeper integrations to the mortgage tech stack and round out our GSE approvals.”
The payroll connectivity firm more than doubled the annual volume of income and employment verifications conducted on behalf of its customers to 1.5 million with the help of 15 of the top 100 mortgage lenders.
Geary attributes Argyle’s increasing appeal in the mortgage vertical to the commitment of a growing team of in-house mortgage experts and the successful implementation of an ambitious innovation roadmap that is delivering tangible business advantages for customers.
After introducing multiple new platform features and adding thousands of employers to its data network, in October Argyle became the first provider of consumer-permissioned income and employment data to be named an authorized report supplier to Fannie Mae’s Desktop Underwriter( (DU) Validation Service.
The collaboration helps lenders reduce mortgage repurchase risk by enabling access to relief from representations and warranties through Fannie Mae’s Day 1 Certainty initiative.