TransUnion and Truework Align to Provide Mortgage Lenders Expanded Access to Verification of Income and Employment
Rhea-AI Summary
TransUnion (NYSE: TRU) has expanded its partnership with Truework to enhance mortgage lending services through their TruVision™ Income and Employment Verification solution. The system provides comprehensive verification of income and employment (VOI/E) information via TransUnion API, featuring:
- Access to 48M+ active employee records for instant data verification
- Consumer-permissioned payroll covering 90% of US employers
- Automated HR department outreach
- 75% average completion rate
This expansion follows similar implementations in rental screening and auto lending. TransUnion is implementing a phased rollout including integrations with loan origination systems, point-of-sale systems, and GSE certifications, with an early adopter program available for mortgage and home equity lenders.
Positive
- Expanded market reach into mortgage lending sector
- High 75% completion rate for verification process
- Large database coverage with 48M+ active employee records
- 90% coverage of US employers through payroll system
Negative
- None.
News Market Reaction
On the day this news was published, TRU declined 1.94%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TruVision™ Income and Employment Verification (Powered by Truework) provides mortgage lenders a robust and efficient verification solution
CHICAGO, March 04, 2025 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) announced today an advancement of its partnership with Truework, a leading income and employment verification provider. The collaboration will now allow mortgage lenders more encompassing and reliable access to the verification of income and employment (VOI/E) information they need to accelerate underwriting while minimizing costs.
TruVision™ Income and Employment Verification (Powered by Truework) enables a comprehensive income and employment verification waterfall now available via the TransUnion API. This follows the recent launch of a similar TransUnion solution, also powered by Truework, for purposes of rental screening and builds upon the existing availability of the solution for auto lending.
“With mortgage originations expected to rise this year, lenders more than ever will need efficient tools and resources for streamlined income and employment verification,” said Satyan Merchant, senior vice president and mortgage business leader at TransUnion. “TruVision Income and Employment Verification provides lenders with access to these major verification methods in one single solution.”
With TruVision Income and Employment Verification, lenders have access to major verification methods — orchestrated together in a single solution with an industry-leading
“We are excited to provide mortgage and home equity lenders with access to this new income and employment verification solution that can save them time and money while reducing errors along the way,” said Liz Pagel, senior vice president and global head of alternative data at TransUnion. “Through the integration of Truework’s best-in-class solution, we are getting closer to our vision that through one API call, mortgage lenders can receive credit, verified income and employment, and other critical solutions like undisclosed debt monitoring, which can help streamline the underwriting process.”
Ethan Winchell, president and co-founder at Truework, added, "We are excited to power the end-to-end verification experience for TransUnion's TruVision™ Income and Employment Verification product, and to bring speed, transparency, and high report completion to TransUnion customers. For Truework, this integration opens the doors for many new exciting markets where customers need income and employment data."
TransUnion is conducting a phased rollout of the new solution including integrations with loan origination systems, point-of-sale systems and GSE certifications. Mortgage and home equity lenders interested in piloting the solution are encouraged to contact tu_mortgage@transunion.com or their TransUnion representative to join its early adopter program.
About Truework
Truework is the leading platform that solves income and employment verification pain points for mortgage lenders. Powered by automation and machine learning, Truework removes the complexities of managing multiple verification vendors in-house by replacing traditional and manual efforts and delivering comprehensive, vetted, and accurate verification reports. With Truework’s industry-leading
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business
| Contact | Dave Blumberg |
| TransUnion | |
| dblumberg@transunion.com | |
| Telephone | 312-972-6646 |
FAQ
What is the coverage rate of TruVision's employment verification system for US employers?
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