SettlementOne Expands Truv Partnership To Launch Comprehensive Asset Verification Solution
SettlementOne, a provider of credit reporting and mortgage verification services, announced the expansion of its partnership with Truv to include comprehensive asset verification capabilities. The new solution provides mortgage lenders with instant access to borrower asset data from over 13,000 financial institutions, featuring 90-day free data refreshes.
The expansion comes as the mortgage industry continues its recovery, with lenders focused on operational efficiency after facing average origination costs of $10,806 per loan and two years of challenging profitability.
“This integration represents a natural evolution of our partnership with Truv,” said Michael Lord, CEO of SettlementOne. “By adding asset verification to our platform, we’re providing lenders with a complete verification solution that addresses both income and assets through a single integration.”
The solution provides support for Freddie Mac LPA AIM and Fannie Mae Day 1 Certainty, offers direct connections to 13,000+ financial institutions, up to two years of account history, and customizable reporting options, including configurable thresholds for large deposits and withdrawals, transaction categorization, and the ability to leverage direct deposit data for employment verification.
“SettlementOne has been instrumental in helping us bring modern verification solutions to mortgage lenders who need them most,” said Kirill Klokov, CEO of Truv. “Its deep understanding of the mortgage industry, combined with our technology, creates a powerful solution that addresses real pain points. And its 90-day free refresh feature solves the challenges lenders face with lengthy closing cycles and changing borrower circumstances.”
The asset verification solution is available now through SettlementOne’s existing platform. Current SettlementOne clients can activate the service immediately, with no additional setup required for those already using Truv for income verification.
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