Argyle is an approved service provider supporting Freddie Mac's Asset and Income Modeler (AIM)
We're excited to announce that Argyle is now a third-party service provider supporting Loan Product Advisor® (LPA℠) asset and income modeler (AIM), a digital solution that automates the assessment of borrower assets, income, and employment. By using AIM through LPA, lenders can improve loan quality, save time and money, and meet Freddie Mac eligibility requirements with greater certainty.
This follows our announcement that Argyle was also named an authorized report supplier for Fannie Mae’s Desktop Underwriter®, a component of Day 1 Certainty®. Our approval now by both Freddie Mac and Fannie Mae is a testament to the quality of our data and our commitment to mortgage lenders.
Keep reading to learn more about Argyle’s integration with AIM and what it means for your mortgage operations.
The AIM difference
AIM is a capability within LPA that automates the evaluation of borrower assets, income, and employment by utilizing data from third-party service providers. With this data, AIM helps mortgage lenders remain competitive and streamlines the loan origination process for everyone involved.
For lenders, AIM digitizes and automates assessment and reduces the documentation burden, helping to create a cost-effective and frictionless mortgage process. Meanwhile, borrowers benefit from a smoother experience, too, because they don’t have to chase paper trails of paystubs, tax returns, and other documents.
All told, loans originated using AIM are two times less likely to have defects or become delinquent according to Freddie Mac.
The Argyle experience
Argyle's status as an AIM service provider underscores our commitment to the mortgage industry and helps bring the benefits of our market-leading verification technology to even more lenders and loan files. For lenders, this means improved access to superior data quality and the highest-converting Income & Employment Verification solution on the market.
Argyle is known for using consumer-permissioned income and employment data that we retrieve in real time directly from the source of truth: borrowers’ payroll accounts.
Aside from the inherent advantages of using real-time, direct-source data, Argyle has gone to great lengths to ensure our data set is of the highest quality. Argyle’s data, which shows a 95% data completeness rate, provides lenders with the data they need, in the format they need it, to make quick, informed, and accurate decisions.
Argyle also offers mortgage lenders the highest-converting verification experience. Thanks to the sheer volume of verifications we process plus our continual and considerable engineering investments in perfecting the user experience, Argyle’s conversion rate now exceeds 55%—and we’re breaking our own records month over month.
"Collaborating with both Freddie Mac and Fannie Mae is not just a meaningful achievement for Argyle," said Shmulik Fishman, CEO of Argyle. "It’s a turning point in the industry. It’s an indication that consumer-permissioned, real-time borrower income and employment verifications of the highest caliber are finally becoming mainstream. Parties on all sides of the mortgage equation will benefit as a result."
Key benefits of AIM with Argyle
Together, AIM and Argyle offer incredible advantages to lenders:
Streamlined income and employment verifications for a more frictionless mortgage experience
Considerable time savings thanks to a lower documentation burden
A smooth and efficient borrower experience, enhancing overall borrower satisfaction
60-80% lower verification costs with Argyle compared to legacy providers
The takeaway
When you use Argyle, you’re not only obtaining a verification of income and employment, you’re able to submit that data to LPA and benefit from the AIM assessment. You're also getting an innovative, cost-effective solution that will—simply put—transform your mortgage operations.
Discover how Argyle can help your mortgage business. Contact an Argyle mortgage expert today to learn more about our automated VOIE solution.
Read our full press release here.
Read our AIM FAQs here.
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