Integration improves home loan application
pull-through with instant, in-app verification of borrower income
and employment
MIAMI, Oct. 16,
2023 /PRNewswire/ -- Leading
consumer-permissioned data platform Truv today announced a new
integration with the Mortgage Suite of home lending solutions from
nCino (NASDAQ: NCNO), a pioneer in cloud banking and
digital transformation solutions for the global financial services
industry.
Traditional verification of loan applicants' income and
employment can be time-consuming and expensive for mortgage
lenders. Truv's ability to instantly verify income and employment
for more than 90% of the U.S. workforce solves this problem,
enabling faster and more cost-effective underwriting decisions.
Now, lenders can offer Truv as an integrated service within the
nCino Mortgage Suite, utilized by more than 50,000 active mortgage
originators across the United
States.
nCino's Mortgage Suite spans the entire home loan journey,
facilitating stakeholder collaboration, integrating lender systems,
enhancing operational efficiency and informing data decisioning so
lenders can maximize mortgage profitability. Per the 2022 HMDA
Data Analysis, 35% of the top 100 lenders in the United States use the nCino Mortgage
Suite.
"Slower demand for mortgage loans has made it more important
than ever for lenders to maximize conversion of the applications
they do receive," said Kirill
Klokov, CEO at Truv. "Any time the mortgage experience does
not meet the elevated demands of today's consumer, lenders risk
fallout. 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."
"We're excited to partner with Truv to bring instant income and
employment verification to more borrowers," said Ben Miller, Executive Vice President of US
Mortgage at nCino. "By making best-in-class solutions like Truv
part of a frictionless, single sign-on homeownership journey, we're
giving lenders a fighting chance to get more loans to the closing
table."
About Truv
Truv (truv.com) is the market-leading consumer-permissioned data
platform that enables financial organizations with access to every
financial data source available. Use cases supported by Truv
include income and employment verification, employment history
verification, paycheck-linked loans, verification of insurance,
direct deposit switching, and earned wage access. Through Truv's
model of having access to payroll data, financial account
transaction data, tax data, and insurance data, Truv's platform is
built with unmatched coverage, compliance, and data quality.
About nCino
nCino (NASDAQ:
NCNO) is the worldwide leader in cloud banking.
Through its single software-as-a-service (SaaS) platform, nCino
helps financial institutions serving corporate and commercial,
small business, consumer, and
mortgage customers modernize and more effectively onboard
clients, make loans, manage the loan lifecycle, and open accounts.
Transforming how financial institutions operate through innovation,
reputation and speed, nCino is partnered with more than 1,850
financial services providers globally. For more information,
visit www.ncino.com.
Media Contacts
Leslie
Colley
Depth for nCino Mortgage Suite
+1
678.622.6229
leslie@depthpr.com
press@ncino.com
For Truv:
Mike Murray
Director of Communications
Strategic Vantage
(240) 498-0863
MikeMurray@StrategicVantage.com
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Commission (available on our web site at www.ncino.com or the SEC's
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that could affect actual results will be included in other filings
nCino makes with the SEC from time to time.
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SOURCE Truv