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Truework expands Day 1 Certainty coverage to over 100M records

Mortgage lenders using Truework Income through Fannie Mae’s Desktop Underwriter® (DU®) service will now receive Day 1 Certainty eligibility on over 40% of completed income verifications.
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100M records now eligible for Day 1 Certainty through Truework Income
Table of Contents
Table of Contents

Maximize eligibility for Day 1 Certainty

Since 2021, lenders have been using Truework as an authorized report supplier for Fannie Mae’s DU validation service, a component of Day 1 Certainty®. Today, lenders can now access over 100M income and employment records with Day 1 Certainty eligibility through the one-stop Truework Income platform. 

This marks a 100% increase in eligible records for lenders using Truework. Verifications completed through Truework Credentials, our user-permissioned VOIE method, are now eligible for Day 1 Certainty, helping drive this increase. 

Credentials is a key part of the Truework Income platform that helps lenders realize 75% completion rates. With higher completion rates through a single provider, lenders are lowering their cost of verification, improving the loan processing experience and accelerating loan cycles. 

Now lenders will receive Day 1 Certainty eligibility for over 40% of income verifications completed through Truework. 

Maximizing completion rates with Truework Income

Lenders can now realize an industry-best 75% completion rate on verification requests submitted through Truework Income, our one-stop income and employment verification platform. Truework is the only platform connecting every major verification method together in a seamless experience. 

Truework maintains exclusive data partnerships with payroll providers, employers and other verification providers to give lenders access to over 48M instant records through Truework Income, all of which are eligible for Day 1 Certainty. 

Unlike other user-permissioned data providers, Truework runs every verification through a robust quality assurance process to ensure data is complete and accurate on every report. 

When using other data providers, lenders are finding up to 20% of verifications to include incorrect or missing data. Truework’s quality assurance process has dropped our error rate to less than 1%. 

Whenever lenders do have a question, we’re here to help. Our support team continues to receive a 95%+ customer satisfaction score, with average reply times less than 2 minutes and average resolution times less than 12 minutes. 

The value of Day 1 Certainty 

The DU validation service from Fannie Mae helps lenders reduce portfolio and buyback risk. By leveraging automation, analytics, and third-party data sources, Fannie Mae is able to provide Day 1 Certainty in the form of enforcement relief of certain representations and warranties for validated loan components, including income and employment data.

Overall, the DU validation service offers our lenders greater transparency and a more efficient mortgage origination process.

For loan officers, the DU validation service streamlines the documentation process for borrowers and provides process efficiencies throughout origination, helping improve the borrower experience.

By digitally validating a borrower’s income and employment information, loan officers can reduce the need to collect paper documents from their customers. The time saved by streamlined income verification can help accelerate loan cycle times, allowing borrowers to close on homes faster. 

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How Truework Income uses machine learning to accelerate verification

How to streamline automated income verifications with user-permissioned payroll data

How Truework Helps Prevent Fraud in Income and Employment Verification

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