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.”
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.