Truv's Paycheck Linked Lending (PLL) solution allows borrowers to easily repay loans. You can redirect a specified dollar amount from their paycheck to your depository account within seconds.
Within PLL, the lender also has the ability to verify a borrower's income and employment during the underwriting process.
The new allocation is read and written directly with the payroll provider. Reduce loss rates and increase market serviceability by enabling borrowers to repay their loans directly through payroll.
Use PLL to verify a borrowers income and deduct re-payment from their paycheck. Update payroll to reflect borrower's obligations instantly, instead of waiting.
Use Paycheck Linked Lending (PLL) to:
- Automatically deduct a pre-determined amount from your borrower's paycheck
- Analyze Income and Employment data for underwriting during loan origination
Use the guides below to begin integrating Truv's PLL product into your workflow.
Updated 5 months ago