How does the verification process work after a borrower submits their application?
- After the borrower (or co-borrower) submits their information, they're prompted to connect their payroll accounts through Truv by clicking "Verify Employment."
- The borrower securely links their payroll accounts.
- Truv automatically generates verification reports and makes them available in Loan Origination Systems (LOS) like Encompass®.
- Reports, including pay stubs and W-2s, are added to the Encompass eFolder.
- Ongoing monitoring tracks connected accounts for updates and generates new reports throughout the loan process.