TransUnion and Truework Align to Provide Mortgage Lenders Expanded Access to Verification of Income and Employment

Core Insights - TransUnion has advanced its partnership with Truework to enhance income and employment verification solutions for mortgage lenders, aiming to streamline the underwriting process and reduce costs [1][3][4] Company Developments - The new TruVision™ Income and Employment Verification solution allows mortgage lenders to access a comprehensive verification waterfall via the TransUnion API, building on previous solutions for rental screening and auto lending [2] - The solution boasts an industry-leading 75% average completion rate, providing instant data for over 48 million active employee records and covering 90% of US employers through consumer-permissioned payroll [3][5] Market Context - With mortgage originations expected to rise, the demand for efficient tools for income and employment verification is increasing among lenders [3] - The integration of Truework's solution is expected to save time and money for mortgage and home equity lenders while reducing errors in the verification process [4] Future Outlook - TransUnion is rolling out the new solution in phases, including integrations with loan origination systems and point-of-sale systems, and is inviting mortgage lenders to participate in an early adopter program [4]