Blend is Partnering with Truework for Income and Employment Verification (VOIE)

Date Available: Beta 3/4, Prod 4/1 

Which customers are impacted?: All customers who use Blend Income within all home and consumer lending products. 

Required?: Yes, this is a required release for customers using Blend Income. Truework will be Blend’s data provider for verification of income and employment (VOIE) going forward. 

How to turn on: This feature will be automatically enabled on the dates listed above.

Purpose of Update and Benefit:

Blend has entered into a strategic partnership with Truework, a leading verification of income and employment platform, to provide verification of income and employment (VOIE) services. This partnership means that Blend will use Truework for all VOIE services. Truework provides a similar seamless waterfall experience with some exciting additional capabilities:

• Expanded Coverage: You will benefit from broader instant income verification. Truework has access to a wider range of income data sources, giving you immediate access to more instant records and a comprehensive picture of a borrower’s earnings. 
• Enhanced Credential Experience: Borrowers will still have access to the streamlined in-application experience. Lenders will have the ability to submit the instant and credentialed verifications to Freddie Mac’s Loan Product Advisor (LPA) and Fannie Mae’s Desktop Underwriter (DU) to assess eligibility for rep and warrant relief.

New Behavior:

Customers can expect to see these changes after the migration to Truework is complete: 

• The income report for successful verifications will be branded to Truework and not Blend, but it will have all of the same fields and a similar structure to the Blend Income report. 
• The GSE Reference Vendor and Identifiers that are included in the MISMO file will now reflect Truework.
  • Customers using an LOS other than Encompass should ensure that Truework is configured as a service provider within the LOS, so that Truework’s information from the MISMO file can be ingested when the loan is exported. 
• The Credentials (formerly known as Login-Based method) verification will experience a few changes: 
  • The end user interface has been updated to a Truework-owned experience. The flow and UI are similar but there are small changes to both. 
  • Income verified through the Credentials method is now eligible for rep and warrant relief with both Fannie Mae and Freddie Mac. 

Customers can rely on these core features to remain the same throughout this migration: 

• All verification methods that were in use with Blend Income are supported by Truework. 
• The income waterfall will remain the same (Instant → Credentials → manual entry → The Work Number [if configured in your environment])
• The Instant verification user experience will remain the same, and is still eligible for rep and warrant relief with both Fannie Mae and Freddie Mac. 

Please review the Truework Income product guide for a detailed walkthrough of expected behaviors, a list of test credentials that can be used for testing, and links to samples of the new Truework Income reports. 

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