Recap: Consumer Powered Verifications Webinar
Last month, we hosted a live webinar discussing the new era in mortgage lending, specifically focusing on consumer-powered verifications.
Joining me were our VP of Product, Nikhil Sharma, and VP of Customer Experience, Felicia Lee. Together we covered the importance of user-permissioned verification of income and employment (VOI/E), and how these tools can increase efficiency and cost savings in the mortgage lending process.
Here's what we covered and the main highlights of each section, including the relevant reply of the webinar for that section.
- Understanding what borrowers want and what lenders need in the mortgage market
- Product deep dive into user-permissioned VOI/E
- Real-world customer stories about verification of income and employment
- Demo of the Truework income platform
Takeaways
User-permissioned methods can streamline income verification and improve customer experience
There is a paradigm shift happening in income verification, driven by opportunities and challenges in the industry. User-permissioned approach to mortgage verification allows borrowers to grant access to their payroll data, thereby generating a complete, accurate, and usable VOIE report.
This approach saves time and cost for both lenders and borrowers while offering a high success rate. Concretely, customers have saved over $100 per borrower and typically complete reports in under 12 hours.
"We're seeing a lot of urgency from our customers to engage and experiment with this flow because they're starting to realize that these benefits are real and the technology has only enabled this to happen faster and faster over time" ~Nikhil, VP Product
Watch the 10-minute introduction below.
Truework is flexible, customizable, and offers a range of solutions
Truework Income offers a flexible and customizable platform that allows for a range of verification methods. The platform can adapt to different needs, whether customers require an embeddable widget for their website, access via APIs, or a front-end web application.
"Truework is really that only one-stop platform to automate VOI across all these verification methods... integrating a platform like Truework is going to be the fastest and most cost-effective method." Nikhil, VP of Product.
Watch the 8-minute product overview and coverage details below.
Real-world customer stories
Truework aims to improve efficiency, productivity, and cost-effectiveness for our customers, while enhancing the borrower experience. In this section, we shared customer examples and quotes about their experience with user-permissioned verification methods.
"I want to emphasize just really how much positive feedback that we've received from customers on our approach on hands-on training and support through this kind of changing or new technology." Felicia Lee, VP of Customer Experience
Watch the 9-minute customer story section below.
Live product demo
Finally, Nikhil walked us through a full demo to showcase the Truework Income platform with user-permissioned verification methods. He walked us through both the borrower and the lender experience.
Watch the 12-minute demo walk-through below.
Ready to add consumer-permissioned to your loan workflows?
Learn how you can get started with Truework Income to orchestrate VOI/E requests across multiple methods.
