nCino’s Mortgage Suite, which enables income and employment verification for home loan applicants, is now integrated with Truv’s consumer-permissioned data platform, thus enabling faster and more cost-effective underwriting decisions.
The integration improves home loan application pull-through with instant, in-app verification of borrower income and employment, Truv says in a release.
Traditional verification of loan applicants’ income and employment can be time-consuming and expensive for mortgage lenders. Truv’s ability to instantly verify income and employment for more than 90% of the U.S. workforce solves this problem, enabling faster and more cost-effective underwriting decisions.
Now, lenders can offer Truv as an integrated service within the nCino Mortgage Suite, utilized by more than 50,000 active mortgage originators across the United States.
nCino’s Mortgage Suite spans the entire home loan journey, facilitating stakeholder collaboration, integrating lender systems, enhancing operational efficiency and informing data decisioning so lenders can maximize mortgage profitability. Per the 2022 HMDA Data Analysis, 35% of the top 100 lenders in the United States use the nCino Mortgage Suite.
“Slower demand for mortgage loans has made it more important than ever for lenders to maximize conversion of the applications they do receive,” says Kirill Klokov, CEO at Truv. “Any time the mortgage experience does not meet the elevated demands of today’s consumer, lenders risk fallout. Our partnership with nCino mitigates that risk by removing friction from the income and employment verification step to accelerate application conversation rates without increasing default risk.”
Photo: Jonny Gios