An easier way to automate asset and income verification for lenders

Plaid is introducing updates to its Assets solution for mortgage lenders, which makes it easier for borrowers to connect their bank accounts and share up to two years of transaction history, balance information, and bank account ownership. This single-consumer connection to multiple sources of data allows lenders to streamline their loan application process, saving them valuable time and money. The updates also automate the process further by making it easy for lenders to share this source information with secondary market investors, such as Freddie Mac, through a new partnership. With Plaid Assets, lenders can send reports to Freddie Mac's Loan Product Advisor asset and income modeler for verification of assets and income using direct deposits, and access information from multiple accounts across depository, credit, and investments securely sharing it to permissioned secondary market investors. The solution is expanding the partner ecosystem with Freddie Mac as an approved service provider, aiming to simplify the mortgage process for borrowers and lenders alike.