Floify Adds Asset Verification, Targets Duplicate Document Requests
The Argyle-powered addition brings income, employment, and asset verification into one service, with bank-connected data flowing directly into the loan application
Mortgage point-of-sale software provider Floify has added asset verification to Floify Verify, bringing income, employment, and asset checks into a single service and billing relationship while reducing separate steps for borrowers and loan teams.
The addition, announced Oct. 20, allows borrowers to connect checking and savings accounts within Floify’s mortgage application. Lenders can also initiate verification during an active loan, configure business rules to trigger requests, and request updated information later.
Floify says bank-connected asset data flows directly into the Uniform Residential Loan Application, or 1003, and the platform automatically suppresses duplicate bank statement requests once an asset report is on file.
“Verification of assets is the piece our lenders have been asking for since Floify Verify launched in 2024,” said Bryan Traeger, general manager of Floify. “Income, employment, and assets are the three pillars of a complete verification picture, and now lenders can run all three through one platform, one connection, and one invoice.”
Consolidating An Existing Capability
Digital asset verification is already available to Floify users through third-party integrations. NMP reported on Floify’s partnership with Plaid in 2019, which allowed originators to request asset reports and receive them in the corresponding loan file.
The latest launch brings that function into Floify Verify, the company’s native verification service powered by Argyle. Previously, lenders using Floify Verify for income and employment relied on separate services for asset verification.
The expansion consolidates reporting and billing while giving borrowers a bank-connection option within the application’s assets section. Document upload remains available as a fallback.
Application Data And Underwriting Reports
Asset verification is available through Floify’s Live Loan Flow and Apply Now experiences, including applications using its Dynamic AI autofill functionality.
Lenders can select transaction-history windows ranging from 15 days to two years and choose which accounts to include when refreshing a report, according to Floify.
The company says the reports meet eligibility requirements for Fannie Mae’s Day 1 Certainty and Freddie Mac’s Asset and Income Modeler, with report reference numbers automatically written into the appropriate GSE fields in Encompass and BytePro. Eligibility for automated validation and associated representations-and-warranties relief remains subject to applicable GSE requirements.
Checking and savings accounts are supported at launch. Investment accounts, including retirement accounts and stock and bond holdings, are planned for a future release.