Truework Launches Qualified Income, Giving Mortgage Lenders a Faster Path to Loan Approval

Truework, a Checkr company and the leading income verification platform for mortgage lenders, today announced Qualified Income, a new solution that expands its offering from income verification into income qualification. Lenders can now receive a Freddie Mac income calculation directly within the Truework verification report.

The launch comes as lenders face increasing pressure to close loans faster in a highly competitive housing market, where speed and accuracy can determine whether a borrower secures a home. Income verification issues accounts for nearly one-third of all purchase transaction defects, according to a 2023 Freddie Mac analysis. That makes manual income calculation a growing cost and compliance risk, particularly as loan volume increases.

"Income qualification is still one of the most manual steps in underwriting," said Randy Lightbody, Head of Mortgage at Truework. "Lenders collect data in one system, calculate in another, and validate against GSE requirements in a third. Qualified Income brings those steps into a single workflow so teams can move faster and make more consistent decisions."

Truework already supports income verification by directly connecting lenders to payroll, tax, employment, and asset data sources. Qualified Income extends that capability by applying the AIM Check API income assessment to verified data and returning a single Freddie Mac-calculated income amount within the same report. That number may be used for representation and warranty (R&W) relief eligibility in Loan Product Advisor® (LPA®), giving lenders exactly what they need to make an underwriting decision.

Available through the Truework platform and included in existing pricing, Qualified Income delivers:

• A dedicated section with Freddie Mac AIM Check derived income;
• Early insight into income calculations that may be eligible for R&W relief prior to LPA submission; and
• Pre-submission flags on potential income calculation issues before underwriting.

While the initial release focuses on borrowers with traditional employment income through AIM Check, Truework plans to eventually expand Qualified Income to support self-employed borrowers, a segment that represents a growing share of the workforce and which continue to face friction in the mortgage process despite strong underlying earnings.