Key Takeaways:
– Truv, an employment data solution firm, has integrated with cloud banking provider nCino.
– The integration allows lenders using nCino Mortgage Suite to instantly verify income and employment for most of the U.S. workforce.
– This integration helps mortgage lenders make faster underwriting decisions and reduce friction in the verification process.
– The partnership between Truv and nCino aims to increase application conversion rates without increasing default risk.
– Ben Miller, EVP of U.S. Mortgage at nCino, believes this partnership gives lenders a better chance of closing more loans.
– Truv also has a partnership with verification provider Xactus.
HousingWire:
Employment data solution firm Truv has a new integration with cloud banking provider nCino.
This latest integration will allow lenders who use the nCino Mortgage Suite to benefit from Truv’s ability to instantly verify income and employment for most of the U.S. workforce. It will help mortgage lenders make smoother, faster underwriting decisions, Truv said.
“Any time the mortgage experience does not meet the elevated demands of today’s consumer, lenders risk fallout,” Kirill Klokov, CEO at Truv, said in a statement. “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.”
Ben Miller, executive vice president of U.S. Mortgage at nCino, said that the partnership was giving lenders “a fighting chance to get more loans to the closing table.”
Truv also has a partnership with verification provider Xactus.
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Property Chomp’s Take:
Hey there! Let’s talk about the latest integration between Truv and cloud banking provider nCino. This partnership is set to bring some exciting changes to the mortgage industry.
Truv, an employment data solution firm, has joined forces with nCino to provide lenders using the nCino Mortgage Suite with a powerful income and employment verification tool. With this integration, lenders can quickly and accurately verify income and employment details for a majority of the U.S. workforce. The aim is to streamline the underwriting process and enable lenders to make faster decisions.
According to Kirill Klokov, CEO at Truv, when the mortgage experience fails to meet the expectations of today’s consumers, lenders face the risk of losing potential borrowers. By teaming up with nCino, Truv aims to eliminate the friction associated with income and employment verification, ultimately boosting application conversion rates without increasing default risk.
Ben Miller, executive vice president of U.S. Mortgage at nCino, expressed his belief that this partnership will provide lenders with a better chance of closing more loans successfully. By leveraging Truv’s verification capabilities, lenders can enhance their efficiency and increase their chances of getting loans to the closing table.
It’s worth noting that Truv also has a partnership with verification provider Xactus. These collaborations highlight Truv’s commitment to providing innovative solutions that address the challenges faced by lenders in the mortgage industry.
Overall, the integration between Truv and nCino opens up new possibilities for lenders by simplifying income and employment verification processes. With faster underwriting decisions and increased efficiency, lenders can better meet the demands of today’s consumers and improve their chances of closing more loans successfully.
