Case Study: Revolution Mortgage saves 70% on verifications with Truv

Revolution Mortgage saves 70% on verifications

Revolution Mortgage is a national mortgage lender that wanted to reduce rising costs and slow, manual verification processes in its loan workflow. Legacy verification of income and employment and verification of assets providers were increasing expenses, creating delays, and adding borrower friction, so the company turned to Truv for Verification of Income & Employment, Verification of Assets, and integration with its point-of-sale system.

Truv implemented direct-to-source, consumer-permissioned verification data through a POS integration with SimpleNexus, helping Revolution Mortgage collect borrower information faster and more accurately at the start of the loan process. The results included reducing verification costs from 8 basis points per loan to 3 basis points, saving 70% on verifications, shaving days off average time to close, improving pull-through and conversion, and reducing buyback risk through GSE-accepted reports and representation and warranty relief.

Revolution Mortgage

Femi Ayi

EVP Operations