Truv and Lodasoft Announce Strategic Integration to Streamline Mortgage Verifications

NEW YORK, Nov. 7, 2024 /PRNewswire/ -- Truv, a leading provider of income, employment, asset and home insurance verification solutions, and Lodasoft, an innovative digital workflow platform designed by mortgage experts to automate the lending process, announced a strategic integration that will empower mortgage lenders with seamless, real-time verification capabilities directly within the loan application.

Partnership Highlights

• Real-time Verification: Eliminate manual document gathering and reduce processing times with consumer-permissioned data retrieved directly from payroll providers.
• Seamless Integration: Enhance the borrower journey with a smooth, native experience within the Lodasoft platform, taking borrowers 30 seconds to complete on average.
• Compliance Confidence: Trust robust data retrieval that meets industry standards and Government Sponsored Enterprise (GSE) requirements.

Truv's direct-to-source income and employment solution leads the market with 96% coverage of the US workforce and more than 2.3 million employers. With comprehensive coverage, reliable conversion, and competitive pricing, lenders can now leverage the integration to transform the lending process end-to-end.

"Our partnership with Lodasoft represents a significant leap forward in mortgage lending technology," said Kirill Klokov, CEO at Truv. "By integrating our verification solutions directly into the lending workflow, we're helping lenders reduce friction, minimize risk, and close loans faster."

Adam Batayeh, President at Lodasoft, added, "This integration reflects our commitment to providing mortgage professionals with the most advanced, user-friendly tools in the industry. Combining Truv's robust verification capabilities with our platform gives lenders a competitive edge in today's dynamic mortgage market."

The integration is now available to Lodasoft platform users. Mortgage lenders can contact their Lodasoft representative or the Truv team at https://truv.com/request-a-demo for more information.

About Truv

Truv is a leading open finance platform that offers consumer-permissioned, real-time income, employment, asset, and home insurance solutions, proven to accelerate lending decisions with speed and accuracy.

About Lodasoft

Lodasoft is a cutting-edge mortgage technology platform designed to optimize lending workflows, enhance productivity, and improve the overall mortgage experience for lenders and borrowers.

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SOURCE TRUV