Case Study: Lake Michigan Credit Union accelerates mortgage verifications and cuts costs with Argyle

With Argyle, LMCU lowers mortgage verification costs, accelerates close times, and enhances their member experience

Lake Michigan Credit Union (LMCU) turned to Argyle to address rising mortgage verification costs and slow, manual employment and income verification processes. To close a loan, LMCU needed to verify borrower employment and sometimes complete full VOE reports, but the old process relied on paystubs, W-2s, employer outreach, and third-party services like The Work Number, creating delays, extra fees, and a frustrating experience for loan teams and members.

Using Argyle’s mortgage-ready VOIE platform, LMCU connected directly to borrowers’ payroll accounts to access real-time income and employment data and reuse the same connection for re-verifications without paying again. The result was verification times cut from up to three weeks to under a minute, savings of about $100 per loan, and more than $250,000 saved in a year, along with faster closings and a better member experience.

Lake Michigan Credit Union

Eric Schlagheck

Director of Mortgage Processing