Consumer-permissioned data platform Truv announced a new integration with the Mortgage Suite of home lending solutions from nCino, a provider of cloud banking and digital solutions for the global financial services industry.
According to Truv, it has the ability to instantly verify income and employment for more than 90 percent of the U.S. workforce, 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.
“Slower demand for mortgage loans has made it more important than ever for lenders to maximize conversion of the applications they do receive,” Kirill Klokov, Truv CEO, said in a release. “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.”
Mortgage Suite facilitates stakeholder collaboration and integrates lender systems with the goal of enhancing operational efficiency and informing data decisioning so lenders can maximize mortgage profitability.
“We’re excited to partner with Truv to bring instant income and employment verification to more borrowers,” said Ben Miller, executive vice president of U.S. Mortgage at nCino. “By making best-in-class solutions like Truv part of a frictionless, single sign-on homeownership journey, we’re giving lenders a fighting chance to get more loans to the closing table.”