Truework offers automated income and employment verification through Freddie Mac Loan Product Advisor as an AIM Service Provider

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Apr 18, 2024, 09:00 ET

The Truework Income platform helps mortgage lenders improve predictability in the income verification process with new integration

SAN FRANCISCO, April 18, 2024 /PRNewswire/ -- Truework, the one-stop platform for income and employment verification, announces it is now a service provider supporting Freddie Mac Loan Product Advisor^®(LPA^SM) asset and income modeler (AIM).

Through this collaboration, verifications completed using Truework Income will be eligible for automatic income and employment assessment through AIM.

"Truework remains committed to offering the most comprehensive income verification solution on the market," said Ryan Sandler, CEO of Truework. "Today, lenders are stitching together multiple verification technologies, which are not only time-consuming and expensive but can lead to inconsistent data and the risk of errors. By adding support for AIM to Truework Income, lenders can now have confidence they can close higher-quality loans more quickly."

By connecting all major verifications into a single platform, Truework Income allows lenders to minimize time spent on verifications while lowering the overall cost and improving data accuracy. Mortgage lenders using Truework Income see an average automated verification completion rate of over 75%.

"We're truly excited about our collaboration with Truework and this opportunity to expand access to LPA's capabilities," shared Daniel Miller, Freddie Mac Single-Family Director of Strategic Technology Partnerships. "Truework's approach to solving industry challenges aligns with Freddie Mac's efforts to help lenders drive down the cost to originate, elevate loan quality, and make homeownership more achievable for all."

Truework Income's Instant verification method is available for use today with AIM, and verifications completed using the Credentials method are anticipated to be eligible for assessment later this year, subject to Freddie Mac's approval.

To learn more about Truework Income for Mortgage, please visit truework.com/solutions/mortgage

About Truework

On a mission to create trust in every financial transaction, Truework provides a one-stop platform for income and employment verification that prioritizes efficiency, accuracy, and security. Using Truework, banks, lenders, and property management companies can verify income for any applicant.

https://www.truework.com

SOURCE Truework