LenderLogix integrates Truv’s verification services into mortgage POS

In the US, LenderLogix has announced an integration with consumer-permissioned data platform Truv to enable lenders to more easily verify mortgage applicants’ income and employment information.

LenderLogix provides mortgage point-of-sale (POS) and automation software for banks, credit unions, independent mortgage banks, and brokers.

Through the integration, US lenders will be able to access Truv’s platform via LenderLogix’s POS ‘Litespeed’ to obtain immediate access to accurate income and employment data.

Truv’s technology, which it claims covers 96% of the US workforce, helps to reduce delays in the mortgage application process typically brought about by lenders having to manually collect documents, by ensuring they are provided with more complete loan files from the point of application.

Meanwhile, borrowers benefit from having fewer “touchpoints” and a quicker application process.

“With the integration of Truv’s verification capabilities and LiteSpeed, lenders can now enjoy a streamlined workflow that reduces administrative tasks and frees up resources for improved customer service,” said LenderLogix co-founder and chief executive officer Patrick O’Brien.

“This powerful combination eliminates the need for third-party verification services, leading to significant cost savings and lower overall loan processing expenses.

“Additionally, the automation speeds up loan approvals, allowing lenders to close loans faster and optimize their operational throughput.”

“Our integration with LenderLogix marks a significant advancement in our mission to revolutionize the mortgage origination process,” added Kirill Klokov, chief executive officer of Truv.

Back in April, Truv announced a similar integration with US-based POS solution for the mortgage industry, Floify, enabling borrowers to electronically verify their income and employment as they apply for a mortgage loan.