Xactus, a fintech and market leader in verification solutions for the mortgage industry, announced a new strategic partnership with Plaid, a global financial data network. The collaboration will bring Plaid's FCRA-compliant Verification of Assets (VOA) solution, to Xactus360, expanding the platform's intelligent verification capabilities for mortgage lenders.

The integration, once developed, will make it easier for lenders to leverage Plaid's familiar and secure account linking experience which delivers conversion rates as high as 80% in lending flows. Once a consumer consents to share their bank account data, lenders can access a comprehensive VOA Report with up to 2 years of categorized inflows and outflows, average account balances, asset derived income, and more while maintaining compliance and data integrity across the mortgage process.

"Plaid is one of the most recognized and trusted fintech platforms in the world, and their verification technology is already used by one in two Americans with bank accounts," said Thomas Lloyd, Chief Strategy Officer at Xactus. "By bringing Plaid's VOA solution into Xactus360, we are giving lenders another powerful option within our Intelligent Verification Platform that makes verification faster, simpler, and smarter for both lenders and consumers."

"Real-time, consumer-permissioned data is transforming how lenders assess risk and serve borrowers," said Jonathon Gurwitz, Credit Partnerships Lead at Plaid. "By partnering with Xactus, Plaid is making single source data for digital verification more widely accessible to mortgage lenders. Our joint customers will be able to instantly verify assets to improve operating efficiency, enhance the borrower experience, and ultimately, close loans faster."

This partnership reinforces Xactus' commitment to providing lenders with unmatched flexibility and optionality. Through continuous innovation, Xactus is expanding the breadth and depth of its Intelligent Verification Platform, offering clients the ability to configure workflows that best suit their business needs.

Lenders using Xactus360 will be able to access Plaid's VOA solution directly within their existing workflows, alongside credit, income, and employment verifications, to streamline processes and accelerate loan decisioning. The solution is also compatible with Fannie Mae's Desktop Underwriter^® (DU^®) validation service and Freddie Mac's Loan Product Advisor^® (LPA^®) asset and income modeler (AIM).