Case Study: Pennymac Cuts Verification Costs 20% with Truework

PennyMac cuts verification costs 20% with Truework

PennyMac, a top U.S. home mortgage lender, faced increasing costs and inefficiencies in its loan origination process. Their existing verification method was expensive and produced incomplete reports, which placed a heavy operational strain on internal teams. To address this challenge, PennyMac turned to Truework for its automated income and employment verification service.

By implementing Truework's platform, PennyMac automated its verification waterfall, consolidating multiple processes into a single streamlined system. This solution provided more complete and reliable reports. As a result, PennyMac achieved a 20% reduction in verification costs and saved over 14,000 hours for its loan fulfillment teams, significantly improving operational efficiency.

PennyMac