Truv and Pylon Bring Instant Income Verification to Autonomous Mortgage Origination

NEW YORK--(BUSINESS WIRE)--Truv, a provider of consumer permissioned income, employment, and asset verification, today announced it is powering real-time verification within Pylon’s autonomous mortgage origination platform.

Verifying income and employment has historically required borrowers to manually upload W2s and paystubs, a process prone to errors and delays. Through the Truv-Pylon integration, borrowers connect their payroll once to verify income and employment programmatically, enabling an instant conditional approval without the back-and-forth that has long slowed mortgage origination. Because Truv is approved by Fannie Mae for Day 1 Certainty (D1C) and Freddie Mac for Asset and Income Modeler (AIM), income and employment results are often accepted with no additional conditions to clear.

"Lenders and technology companies have spent years automating pieces of the mortgage origination process, which often amounted to digitizing a series of manual steps," said Kirill Klokov, CEO of Truv. "Pylon is the first to build an origination experience that's fully autonomous end to end. We're proud that Truv's verification is a key part of making this experience seamless."

“The alternative to Truv is manual document upload. Borrowers frequently don't upload the right things, and one document triggers the need for another. Truv cuts that loop entirely. Ultimately, borrowers need to provide that information for a credit decision either way, but with Truv flowing directly into Pylon's automated underwriting, that instant credit decision comes with a significantly more streamlined experience," said Evan Roman, VP of Product at Pylon.

Pylon's mortgage rails consolidate the full origination stack, from application through underwriting to capital markets settlement, automating the manual labor that has historically made mortgage origination slow and expensive.

About Pylon

Pylon is the autonomous mortgage infrastructure platform powering the next generation of mortgage origination. Through vertical integration and end-to-end automation, Pylon's mortgage rails give originators access to rates that are 75–200bps better and a cost to originate that is 74% lower than the industry average. Pylon serves a growing number of large private and publicly traded mortgage originators, and is backed by top investors including Peter Thiel, Conversion Capital, QED, Citi, and Fifth Wall. Learn more at pylonlending.com.

About Truv

Truv empowers 150+ lenders to instantly verify income, employment, and asset data directly from the source. With best-in-class coverage, configurable workflows, and a focus on consumer-permissioned data, Truv helps financial institutions streamline underwriting while dramatically reducing costs. Truv's full suite of solutions provides GSE-eligible reports for submission to Freddie Mac and Fannie Mae, protecting lenders from buyback risks and delivering market-leading data quality. Learn more at truv.com.