EXPLORE THE INTEGRATION
Compared to legacy vendors and manual processes.
Thanks to the highest conversion rate on the market (55%+).
Close up to 8 days sooner, according to DU data*.
On certain loan components validated through DU.
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A first for lenders
Before Argyle, lenders didn’t have a consumer-permissioned VOIE option that was also an authorized report supplier for the DU validation service.
The best of both worlds
When lenders choose Argyle, they get all the advantages of direct-source, consumer-permissioned verifications plus the peace of mind of GSE compliance and a lower buyback risk.
Learn more about Day 1 CertaintyOUR MODEL
Direct-source income and employment verifications are consumer-permissioned and come from the system of record (i.e., borrowers’ payroll accounts).
Argyle VOI and VOE reports don’t rely on data that comes from a database and there’s no time lag, so lenders can be confident in the accuracy and quality of the data they receive.
Other income and employment verification vendors buy data and pass those costs on to lenders. Direct-source solutions keep prices low by leveraging the principles of open finance.
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HOW IT WORKS
You order a VOlE report from Argyle through your loan origination system (LOS).
Argyle prompts the borrower to connect their payroll account(s) with just a few clicks.
Argyle instantly sends your LOS a GSE-compliant VOIE report that includes a DU reference number and all of the components required to receive Day 1 Certainty.
You provide DU with the reference number, and DU pulls in and validates the data from the Argyle report.
You deliver the loan file to Fannie Mae with the confidence of knowing you’re eligible for relief from representations and warranties on the validated loan components.
IMPLEMENT ARGYLE
Lenders now have a consumer-permissioned income and employment verifications option that costs less than alternatives and meets GSE requirements for relief from representations and warranties. The best part is, lenders can implement Argyle in under 24 hours.
*Numbers based on data from April 2019-March 2020 from lenders who have successfully implemented the DU validation service in their loan workflow. Note that lenders realizing best-in-class savings had extended cycle times when not using the DU validation service, typically about 40-45 days from app-to-close.
Get in touch to learn more about our verification solutions for the mortgage, personal lending, and background check industries, and more.
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