DTI & Income Verification - W2 Income Verification - Truework

If a successful connection via Plaid CRA is not established, the borrower can proceed through Truework.

Truework & DTI <50%

If a successful connection is established to their payroll provider via Truework, and the DTI is less than 50%, the steps are considered approved, and the borrower can continue to title and closing steps.

Truework & DTI >50%

If the connection through Truv is successful, but the DTI is greater than 50%, the borrower has four options:

• Reduce Loan Amount – The system will let the borrower know what they need to lower it to, in order to make the deal work.
• Pay Off Debts – The borrower will be able to select liabilities to pay off. The DTI will reflect the payoff selections in real time.
• Add Income – This allows the borrower to add additional income that wasn’t considered during the prequal.
• Add Co-Borrower – They can add a co-borrower to combine incomes.

NOTE: If the above options do not work, and the DTI is still above 50%, the loan will be denied.

Things to Know

• If the borrower doesn’t have their log in credentials for their payroll provider, they can upload their income documents manually instead
• Truework retrieves income and employment data and provides a calculated income based on the results
• Credentials to use Truework will come from the borrower’s HR department
  • The borrower simply needs to contact their HR department for the username and password if they do not know it