Truv, a provider of income, employment, asset and home insurance verification solutions, and Lodasoft, which offers a digital workflow platform designed by mortgage experts to automate the lending process, are now integrated to provide mortgage lenders with seamless, real-time verification capabilities directly within the loan application.
With real-time verification, lenders eliminate manual document gathering and reduce processing times, using consumer-permissioned data retrieved directly from payroll providers.
The seamless integration enables lenders to enhance the borrower journey with a smooth, native experience within the Lodasoft platform, taking borrowers 30 seconds to complete on average.
Lenders also gain robust data retrieval that meets industry standards and government-sponsored enterprise (GSE) requirements.
“Our partnership with Lodasoft represents a significant leap forward in mortgage lending technology,” says Kirill Klokov, CEO at Truv, in a release. “By integrating our verification solutions directly into the lending workflow, we’re helping lenders reduce friction, minimize risk, and close loans faster.”