Encompass Document Processing
Truv has a significant number of mortgage customers who use Encompass as their Loan Origination System, which is why we’re committed to providing you with the best user experience possible. This past sprint we’ve added visibility into which documents are available and we’ve further synced the Truv dashboard with the Encompass experience.
When viewing an order status in Encompass, users will now see a “Processing” status for any documents that are still being uploaded via API. Once the documents have been added to Encompass, users will be able to view and download documents from the orders status screen. This enhancement helps to clarify which verification orders are completed and which are waiting for documents to be processed via successful connections.
Encompass Loan Number Sync
To further improve our Encompass integration, we’ve taken the loan number from inside Encompass and put that information in the Truv dashboard. This will make it easier for you to reconcile verifications between the Truv Dashboard and your Encompass instance to find the information necessary to underwrite a loan.
SimpleNexus Platform Integration
Lastly, to continue to support our growing mortgage segment, we are thrilled to announce our latest integration with SimpleNexus, an nCino company. SimpleNexus provides mortgage software and technology for the modern lender through their Point-of-Sale software that’s trusted by over 47,000 loan officers today.
Having an integrated solution for mortgage lenders is essential, as loan officers encourage applicants to manage everything through their Point-of-Sale system. Through Truv’s integration with SimpleNexus, this is possible by kicking off an income and employment verification request directly from SimpleNexus. Once applicants reach a specified place in the loan application, an income and employment verification order will be submitted and the applicant will receive an email and/or text message to complete the request via Truv.
All SimpleNexus customers can use this integration out-of-the-box today to reduce risk, reduce verification costs, increase efficiency, and ultimately, approve more funded loans to drive increased growth and profitability.
Scoring Attributes Coverage
Truv has the best coverage in the industry, but its equally important to provide transparency into our coverage claims. This sprint we’ve added a detailed overview of our Scoring Attributes product coverage. You can find this information under the coverage section in the left side menu of Truv’s dashboard.
The information in the Scoring Attributes page directly relates to Truv’s Scoring Attributes product used to decrease risk while increasing funded loans through acquiring more data to make more informed lending underwriting decisions. Through this view, Truv’s dashboard users will have access to a list of attributes supported by Truv. We will continue to provide transparency into our product coverage so that our customers can make informed decisions.
Dashboard Single Sign-On Functionality
Accessing the Truv dashboard is a fundamental part of most workflows for our customers to kick-off individual orders, access verified data, see analytics, and other key business outcomes. Several of Truv’s customers have asked for single sign-on support within the Truv dashboard to enable all of their team members with seamless access.
We’re happy to announce that Truv is now able to support single sign-on integrations for accessing the Truv dashboard as a paid and premium feature. To enable this for your organization, feel free to reach out your Truv customer success representative today.
Tracking Number Update
Truv customers work fast and efficiently while underwriting loans. To prevent potential errors in the underwriting process, Truv has made the order tracking number a unique field. If a user tries to create an order using an existing tracking number, Truv will prompt the user to select a new number. If a user is creating a new order for an existing applicant, then Truv will allow the user to continue using the same tracking number. This adjustment will help underwriters work faster without worrying about duplicating important fields.
Redesigned API Documentation
One of Truv’s core differentiators is enabling our customers to go live quickly, as on average it takes a Truv customer four weeks to go live on our consumer-permissioned data platform. We’re able to achieve this accomplishment due to our robust API documentation that clearly outlines the technical specs to implementation.
To make navigating our documentation easier, the Truv team recently redesigned the API Docs home page. You can now easily navigate to your desired location, whether it’s the quickstart, product guides, or an overview of the Truv Bridge.
Edit & Delete Functionality - Direct Deposit Switching
Truv’s direct deposit switching solution is built on the premise that consumers should be able to change their direct deposit distribution quickly and easily. In the end, it’s their money that they should have complete control over.
To build on this notion, Truv’s direct deposit switching solution now fully supports the ability for consumers to both edit and delete previously established direct deposit distributions. This new functionality provides our customers with a complete solution to adjust and change direct deposit distributions at any time for any reason.
Document Processing Response
Truv is focused on providing the highest conversion rates possible to our income and employment verification and our employment history verification solutions. As a result, we’re expanding to new data sources to complete the verification. Document processing is one of those new data sources, where applicants are prompted to upload the necessary documents (W2s, 1099s, paystubs, etc.) to complete the verification.
Through this product, we’ve always provided our customers with the parsed data from the uploaded documents. As an enhancement, we’ve added a new endpoint to also return the raw documents in a response, which enables your team to view the documents if any additional investigation is necessary.
The following updates are changes to the Truv docs site.