Case Study: CrossCountry Mortgage achieves $10M in annual verification savings with Truv

CrossCountry Mortgage saves $10M annually with Truv

CrossCountry Mortgage, a major retail mortgage lender, faced high operational costs and inefficiencies from its traditional income and employment verification processes, which were costing nearly $18 million annually. The company needed a more cost-effective and seamlessly integrated solution to streamline workflows within its loan origination systems, leading them to partner with Truv.

By implementing Truv's consumer-permissioned verification solutions, CrossCountry Mortgage integrated them directly into its Blend and Encompass platforms for follow-up tasks and re-verifications. This partnership with Truv resulted in an estimated $10 million in annual cost savings, a 70% post-login completion rate for borrowers, and an 8% uplift in verifications qualifying for rep and warranty relief.

CrossCountry Mortgage