Open Finance by Truv

September 16, 2024

This edition is packed with exciting updates and integrations designed to enhance your experience with Truv. We’re thrilled to announce our enhanced integration with nCino, allowing lenders to access real-time income, employment, and asset verifications directly within nCino’s Mortgage product.

In addition, we’ll take you through our latest product updates from August 2024, including ADA compliance achievements and new platform features that streamline processes for lenders. Plus, we’ve got event highlights, upcoming conference announcements, and more insights from the world of mortgage and financial technology.

Dive in and discover how Truv is continuing to innovate and drive lender success!

INTEGRATIONS

Truv Integration With nCino Now Offers Embedded Income, Employment, and Asset Verifications

We’re thrilled to announce Truv's enhanced integration with nCino, Inc.

Lenders can now access?embedded income, employment, and asset verifications?directly within nCino's Mortgage product, creating a seamless, faster, and easier mortgage application process for both loan officers and borrowers.

What’s new?

• Real-time income, employment, and asset verifications embedded in the 1003 loan application – no external emails & SMS links!
• Instant access to leading payroll coverage for VOIE: 96% of the US workforce.
• Instant access to expansive financial account connections for VOA: 13K+ financial institutions.
• Fully customizable verifications with expanded features and functionality, all in one solution.
• No implementation delays: configure settings for VOIE &/or VOA in just a few clicks.

Mortgage lenders, get ready for faster decisions and smoother processes beginning at the application!

Learn more about this exciting update here

Truv Expands Integration with Byte Software

We’re excited to share that Truv has enhanced its integration with Byte Software, enabling mortgage lenders to access instant income and employment verifications seamlessly within Byte’s platform. Check here how Richard Grieser made a splash announcing the integration.

PRODUCT UPDATE: AUGUST 2024

August was a bustling month at Truv, with exciting product updates and feature releases that continue to enhance our full suite of verification solutions. Our commitment to conversion optimization remains at the core of everything we build. Dive into the latest developments below!

ADA Compliance & WCAG 2.2 AA Certification

We’re proud to announce that Truv is now fully ADA compliant, WCAG 2.2 AA certified, and meets Section 508 standards. This milestone ensures that the Truv platform is accessible to all users, including individuals with disabilities. This reflects our dedication to ease of navigation and equal access to services and technology for everyone. For Truv clients, this ensures a better user experience for all customers, including those with visual, auditory, or mobility impairments.

PLATFORM UPDATES

Encompass Improvements

The Truv team has introduced several enhancements to our Encompass integration, designed to provide a seamless experience for lending teams and borrowers. Key updates include:

• Expanded Status Update Customization: Now, recipients of status update emails in Encompass can be customized for both new and refresh orders. This keeps key team members informed throughout the loan process, particularly during pre-closing verifications.
• Enhanced Email Notifications: We’ve improved status updates to ensure they are seamlessly deployed in both manual and Automated Service Ordering (ASO) workflows, expediting loan processing and closing.
• Expanded Income Sources: New income sources such as Disability, Social Security, and VA Benefits have been added, simplifying verifications within Encompass.
• Auto-Select Current Employer: To streamline the order creation process, the system now automatically selects a borrower’s ‘Current’ employer, increasing efficiency for both manual and ASO workflows.

Truv Dashboard & Order Updates

For clients using the Truv Dashboard, we’ve rolled out new features for more customization and reporting insights:

• Order Manager Performance: Track team performance from number of orders to conversions within the Dashboard, with exportable reports.
• Configurable # of Paystubs: Clients can now customize the number of year-end paystubs required for VOIE, tailoring the process to their specific needs.

Read the full Product Update here

Stay tuned for more updates as we continue to build tools designed with your success in mind!

EVENTS

A Big Thank You to The Mortgage Collaborative for a Great Conference!

Truv would like to extend a heartfelt thank you to The Mortgage Collaborative (TMC) for hosting an incredible conference filled with innovation, collaboration, and meaningful discussions. It was a fantastic opportunity to connect with industry leaders and explore the latest trends shaping the future of mortgage lending. We’re grateful to be part of the #TMCFamily and look forward to continuing to drive innovation and success together.

Until next time!

ACUMA Annual Conference, September 29 - October 2, 2024

Truv is excited to participate in ACUMA, the largest gathering of credit union mortgage lenders in the United States. Truv is a Freddie Mac Loan Product Advisor? asset and income modeler (AIM) provider and Fannie Mae Desktop Underwriter? (DU?) validation service provider—the only consumer-permissioned VOIE platform with both accreditations, solidifying our commitment to delivering top-notch verification services tailored for credit unions.

Meet with us to learn more!

See you next time, and don’t forget to subscribe to stay informed!