MortgageTechnology

Argyle partners with Dark Matter Technologies on income, employment verifications

Integration streamlines income and employment verification for lenders to cut costs, speed up loan cycles

Verifications provider Argyle announced an integration with the Exchange, an interconnected network of mortgage-specific service providers available to customers of the Empower loan origination system (LOS) from Dark Matter Technologies.

The collaboration is aimed to make it easier for lenders to order Argyle’s verification of income (VOI) and verification of employment (VOE) reports through the Empower LOS. 

With the integration, lenders will have the flexibility to configure where VOI and VOE report ordering occurs in the loan origination workflow to support their manufacturing process and borrower experience. 

When borrowers connect through Argyle, direct-source data, reports and associated documentation are made available in Empower and refreshed throughout the loan cycle, Argyle noted.

The mortgage tech company has made a series of integrations with lenders in the past few months.

In November, the firm partnered with ICE Mortgage Technology to allow lenders access real-time income and employment data for borrowers throughout the loan origination process. 

Lenders using ICE Mortgage Technology can tap into consumer-permissioned income and employment data via Argyle’s secure connections directly to the payroll source. 

Argyle announced its integration with Fannie Mae’s Desktop Underwriter (DU) program in October, becoming the first DU-authorized report supplier to offer automated income and employment verification reports based on consumer-permissioned, direct-source data.

Founded in 2018, Argyle has raised over $77.6 million in capital and is backed by investors including Bain Capital Ventures, Bedrock, Checkr, F-Prime, and SignalFire.

Companies across the banking and mortgage industry are able to use its technology to automate verifications, fund accounts, switch direct deposits, improve loan conversion rates and reduce costs, according to Argyle. 

Argyle’s coverage includes 85% of the U.S. workforce, and the company says it offers up to 80% lower verification costs than other data providers.

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