Lender Demand For Provider’s VOIE Platform Fuels Record Growth For Argyle’s Mortgage Division
Argyle, a service provider automating income and employment verifications for some of the largest mortgage lenders in the United States, has eclipsed its full-year 2023 growth through just the first nine months of 2024.
The company has added 58 new independent mortgage bank, credit union and bank customers since the beginning of the year, bringing its total number of mortgage customers well north of 100, including 7 of the nation’s top 15 retail lenders. Argyle isn’t just adding customers, either; it’s onboarding them swiftly, with year-to-date verification of income and employment (VOIE) volumes already 166% higher than the full-year total for 2023.
Chief Operating Officer Brian Geary attributed the growth to Argyle’s focus on delivering mortgage-specific product enhancements and measurable results for lenders. Top-5 lender* [*note 1] Newrez has partnered with Argyle on a custom integration to deliver a streamlined customer experience for VOIE. Amerisave, a top-25 lender* [*note 2] that took its custom integration with Argyle live in just three weeks, said it receives GSE representation and warranty relief more often when using Argyle than any other VOIE provider. And Delta Community Credit Union, one of the 35 largest credit unions in the United States* [*note 3], reported savings of $39 per member on verification costs using Argyle. These outcomes underscore Argyle’s ability to drive real business value and solidify its position as the mortgage industry’s highest-performing verification solution with a consistent conversion rate above 55% and cost savings of 80% over incumbents.
“Our growth this year is a testament to the measurable impact we’re making for lenders,” said Geary. “Every loan team works a little bit differently. By offering maximum flexibility in how Argyle can be deployed and working shoulder-to-shoulder with customers to make each rollout a success, we’re proving that Argyle is the best partner for any lender that wants to reverse the customer friction, buyback risk and high cost associated with VOIE.”
Argyle achieved several milestones in 2024, including approval as a third-party service provider for Freddie Mac’s Loan Product Advisor® (LPA℠) asset and income modeler (AIM). Like Argyle’s 2023 collaboration with Fannie Mae, the integration with AIM helps lenders reduce mortgage repurchase risk by enabling assessment of eligibility for representations and warranties relief. The company also formed or expanded partnerships with several major loan origination systems (LOS) and point-of-sale (POS) platform providers, including ICE Mortgage Technology® (NYSE: ICE), Floify, Byte Software and nCino (NASDAQ: NCNO), and joined The Mortgage Collaborative as a preferred partner.
Argyle’s leadership and innovation were widely recognized in 2024. In March, Fast Company ranked Argyle #5 globally in the Personal Finance category of its Most Innovative Companies list. Argyle also received a Silver Stevie® at the 22nd annual American Business Awards® in April for its pioneering approach to automating income and employment verifications. In February Argyle made its debut on HousingWire’s Tech100, while CEO Shmulik Fishman was honored as a 2024 Tech All-Star by the Mortgage Bankers Association and received Inman’s Best of Finance award. PROGRESS in Lending also recognized Argyle with its Innovations Award, celebrating the company’s transformative role in the mortgage industry.
Argyle’s rapid growth this year was supported by a $30 million Series C funding round that reinforces its stability as a long-haul partner for mortgage lenders. The funding has enabled Argyle to invest in white-glove customer service and product integrations that make its VOIE service available in familiar systems, reducing customer ramp time and improving user adoption.
The Place for Lending Visionaries and Thought Leaders. We take you beyond the latest news and trends to help you grow your lending business.
