SettlementOne, a provider of credit reporting and mortgage verification services, has expanded its partnership with Truv, a provider of real-time income and employment verification solutions, to include comprehensive asset verification capabilities.
The new, combined solution provides mortgage lenders with instant access to borrower asset data from over 13,000 financial institutions, featuring 90-day free data refreshes.
“This integration represents a natural evolution of our partnership with Truv,” says Michael Lord, CEO of SettlementOne, in a release. “By adding asset verification to our platform, we’re providing lenders with a complete verification solution that addresses both income and assets through a single integration.”
The solution provides support for Freddie Mac LPA AIM and Fannie Mae Day 1 Certainty, offers direct connections to 13,000+ financial institutions, up to two years of account history, and customizable reporting options, including configurable thresholds for large deposits and withdrawals, transaction categorization, and the ability to leverage direct deposit data for employment verification.
“SettlementOne has been instrumental in helping us bring modern verification solutions to mortgage lenders who need them most,” says Kirill Klokov, CEO of Truv. “Its deep understanding of the mortgage industry, combined with our technology, creates a powerful solution that addresses real pain points. And its 90-day free refresh feature solves the challenges lenders face with lengthy closing cycles and changing borrower circumstances.”