See Truv and Encompass in action

Well, it's 2:00, clock here, so we can kick things off. Yeah. Everyone who joined, thank you. This is our first official product demo webinar for truv. My name is Gabby, I'm on the marketing team here at Truv and we're really excited to show you today the integration between True and Encompass LOS system. We have a bunch of different integrations that True works with and over the next few months we're going to be doing more of these. We're hoping to do one or two a month to showcase all of our awesome integration partners and, you know, all of the ways that you all as lenders can really streamline the process and make things super easy to get your verifications. So today we're, as I said, kicking this off, showing Encompass one of the earliest integrations and, you know, widely used. So I think a good one to kick off here. I'm going to turn it over here to our experts, Brandon and Yev. But just wanted to say, you know, if you do have any questions after this or about, you know, any of the other integrations, feel free to email us. We'll make sure that we, you know, follow up after this. Everyone will get an email with actually the recording so you can share this with your teams. And then of course, if you have other questions or things, feel free to reach out there. And we will be answering questions throughout this. Would love for it to be interactive so you can see on the bottom of your screen there's a little Q and A with a question mark. So feel free throughout this to submit there. Without further ado, I can turn it over to Brandon.

Great.

You mentioned Expert in that intro, so I think she's talking about. Yeah, but great to be part of this. Really excited to be sharing what we've built here with respect to Encompass. Tru's been around for about four years. In fact, we just celebrated our four year anniversary. And I would say that in terms of all of our integrations, this is certainly the one that I think we've been working on the longest. From a customer base, it's the one that's most widely used and I think it's one that we, you know, really feel like we've developed some really cool products, features, functionality for the interplay between, between TRUV and Encompass. So I think if we were going to go through everything, we would probably need about four hours as far as a demo and, you know, webinar to do that. And Lord knows I don't think anybody would be wanting to sit through that. So for the purposes of what we're going to be going through today with respect to Truv and Encompass, we're really going to be focusing on two or three key areas that, based on feedback that we've had from our existing customer base, have really been the most popular. So by no means is it extensive. If there are things that we don't cover that you have questions about, as Gabby mentioned, you know, please feel free to reach out to us. We're happy to. We don't answer those during the webinar. We'll be happy to follow up and do a deeper dive on that. Again, a lot of what we've built, in fact, the majority of what we built has really been based on feedback that we've got from existing customers, increased functionality. So a lot of what you're seeing is really based on, you know, the feedback that we've gotten and help me to make true more efficient in everyday workflows. So for the purposes of how we're going to spend this time, I know some of you joining the call, maybe you've seen true before, maybe you're familiar with us. We're going to assume that most of you haven't. So we'll do a quick overview, kind of give you some, some information about the platform, we think some of the highlights in terms of what we offer. We'll kind of shift gears and I will show you a little bit of how the interface works, how borrowers interact with Troove and what that looks like. And then once we do that, we're going to go ahead and turn things over to Yev Shevonenko, who's one of our solutions architects, who will be spending the bulk of the time really jumping into Encompass, working from Encompass, showing you some of that interplay. So again, if you have questions, please put them in the chat. We'll try to fit those in throughout, make sure that we're addressing that. And so if there are no immediate pressing concerns or questions, we'll go ahead and shift gears and kind of show you a little bit more about what it is we offer. So give me a quick second here. I'm going to go official here and put this in slideshow. So, Gabby, can you confirm that you see my. You can see my screen here?

Yep, looking good.

Good.

I want to get four slides into this and realize that nobody can see it. So we are going to be focusing on kind of our foundational product, which is our payroll voe, verification of employment and income. In addition to that, there are different products Many products that we offer as well, we do offer an assets program. So you know, for borrowers looking to connect directly to their assets, being able to import that data, whether it be for, you know, verifying assets on hand or for additional services that we offer, like being able to read that data to pull out income. It's becoming one of our, you know, fast popular product that we offer here Doc Upload. So if a borrower doesn't want to connect, the ability to leverage our platform, our interface to securely upload documents, if they haven't, they already have them on their desktop. Home insurance again, another popular product that's getting a lot more traction and some things that are going to be coming up in terms of HR outreach and then the ability to leverage 4506 through our platform which will be coming online first part of, first part of next year. And we're really excited about that. The one thing that unifies all of our products together is the concept of consumer permissioned. Really what that means is that the way that TRUV works is that it's an interface, it's a link that's sent to the borrower. And for the purposes of verification of employment, Borrower is going to be searching up in our, what we call our bridge and we'll see what this looks like here in a second. They're going to find who they're currently working with and then based on the mapping that we've done on the back end, we pair that employer with their payroll provider either directly or in what you're seeing right here, UPS actually uses Microsoft on the back end for payroll. Borrower then uses their credentials that they would normally use at work. And by logging in we're able to successfully retrieve that payroll data. And we do two things with it. First thing is we prepare a verification of employment report that can be leveraged for underwriting. Comes with a reference ID number. It does support both rep and warrant relief for both Fannie and Freddie. And in addition to the report, there's also documents that we return and when we turn things over to Yev, he's really going to spend a lot of time in terms of how individual documents, paycheck stubs, W2s can be managed either on the front end configuration in terms of what you may ask for initially from a borrower or as a follow up or a template to retrieve additional documents once once an application is in flight. In terms of coverage, we cover 96% of the U.S. workforce, about 2.3 million employers. That number is constantly growing so as we increase our network, as we add more customers on, our data science team is constantly mining to not only improve existing traffic, but also as we move into the long tail of smaller, maybe regional employers, increasing those connections so that as we expand, as new customers bring us on, we're able to provide those connections as part of our service. This may be a little bit small. Don't squint. We're going to go a little deeper into the report we generate. But here's a snapshot of what that report looks like. Again, identifies the borrower, the employer. You can see there there's a reference ID number that can be leveraged for running a us. Again, whether it's DU or lpa, we support it. Again, support for both rapid warrants from Fannie and Freddie. But a lot of our lenders leverage just the report for underwriting and then documents for various things that they may need during processing and underwriting. Really kind of feedback that we've gotten from our existing customers in terms of the success that they're seeing with Troove. One of the things that they really like about the fact is that once we are able to provide a complete report, then our customers can then refresh that report, you know, multiple times throughout the loan process between say, application and funding. Not only is that inclusive of, let's say doing like a 10 day prior to close, if you're just trying to verify employment before funding, but if you need to refresh for any reason during that time, whether it be for additional documents or you just want to keep things up to speed, that's all included in how we, how we set up, trove and partner with our customers.

In.

Terms of who we connect to. Again, pretty broad range, not only with direct integrations to employers, but also things like peos. What's very popular is the fact that we do connect to government agencies. So for those folks that are serving, serving in the armed forces, things like MyPay, we connect to Social Security and then in addition to that gig work. So if you've got somebody who let's say is full time with ups, but maybe they're doing Ubereats or something on the weekend, we support it. So again, borrowers in terms of employment can come in many different configurations. Our goal is to make sure that we're supporting all of them. All right, going to shift over and I'm going to kind of walk you through what the interface looks like before I hand it off to Yev, but wanted to take a point. I think this will kind of help set up the Encompass piece of it is that there's different ways in which borrowers can interact with true first one being we are embedded or have the capability of being embedded in point of sale. So we have multiple out of the box integrations for various existing point of sale tools in the marketplace. But this is a function where it's actually part of the application workflow. So if you're sending them a link and they're going through whatever point of sale vendor you're using, it's basically part of that application workflow embedded in the application. The second way in which borrowers engage is more of the automated process whereby if we're not living in the point of sale, but at some point you've got a loan file that's going to be transitioning from point of sale into Encompass. This is when outreach or however you're going to be communicating or engaging the borrower, whether it be email or text, can be set up either based on automated triggers or certain milestones or a lot of flexibility in terms of how when a link would go to a borrower and they would engage could be managed. Additionally, since you've already have the 1003, you already have the application in Encompass, we can pre fill part of that workflow so that if you know their employer, a previous employer, that can already be sort of pre filled into the work stream that the borrower is going to be working through. And then the last piece is the manual. And so this is really giving your teams, whether they be the lo the process or somebody involved in underwriting, the ability either as a one off or as a follow up to leverage trove and outreach for manual process. Right. So there's creating templates that yeah is going to jump into for specific payroll documents is very popular with us. But again maximum flexibility there with the manual where if you need something you can go ahead and from within Encompass you don't have to go back to the point of sale or our dashboard to execute. You can just click something, send it out, borrower gets it and providing you what you need. Now these things are not independent. In many cases we have all three working in conjunction and again Yev's going to go into more of this when he, when he kick things over to the Encompass side. Okay, enough about that. I'll show you very quickly what the interface looks like and then we can kick things over to Yev and really jump into the Encompass component of it. But what you're looking at right now, this is one of our sandbox instance, this is what we refer to as the bridge. So whether we're embedded in point of sale or borrowers getting a notification, either text or email, and they're going to start this process of accessing payroll, this is where they start.

Okay.

And so it's this interface where again, we're not necessarily expecting the borrower to know that their paychecks or, or gusto or ADP and they can in fact log directly into that. But really where it starts is where do you work?

Right.

So again, some familiar icons here on this page. Just to show you what this looks like, we're going to go ahead and use meta. Let's say this person works for Facebook. And again, a good example where we don't need the borrower to necessarily know that meta uses workday. We're doing all that math for them behind the scenes. Okay, so again, met as the employer workday is payroll. If for some reason they don't know their credentials to log in or they have forgotten, we do support native password reset within our portal, they can click on the forget password. This links them directly to their interface. They can go ahead and reset password and continue to log in. Say, I'm on top of my game, I know my credentials, I'm going to go ahead and log in. Now, this is where you don't want to blink because that is essentially where we are connecting to payroll. 95 of our connection, 95% of our connections are done via API. So it's a very quick direct connection to payroll. And essentially because we know what you need or what a lender needs as far as income and employment documentation, there's no need for the borrower to actually go into payroll and start hunting around for various paycheck stubs. We know what to grab. Okay, so as far as the borrower interface as part, as far as the borrower involvement in this process, all they have to do is log in. It's a very fast, very quick connection. They get some confetti and essentially once they're complete, they're now moving on to the next part of the next part of the loan process. Again, I stated before that there are multiple things that we're retrieving or have the capability of retrieving. First and foremost is the report that we're generating. This is the income and employment report. And again, this is where majority of our lenders are using for underwriting purposes. So borrower information up top, make sure you've got the right person. This report ID is what you would leverage for aus for both DU and lpa. And then as we sort of get into the body of the document, you'll see it's going to have their employer information, you know, who they work for, how long they've been employed, how long they've been in their current role, how they're paid, is it annual hourly pay, frequency, things of that nature. And then this is where we're actually going to break down the income summary. We will do this for the last two years as well as year to date and we will break out things like bonus, commission, overtime. Again, if you're qualifying a borrower using things that are outside of their regular salary, we're going to give you that two year history as well as year to date for qualification purposes. This report in and of itself, again you can underwrite, you can run AUS off of it.

You don't see it.

In this PDF, but in addition to that we are returning paycheck stubs and W2s. In this particular case, we return looks like seven of them. Again, a lot of flexibility in terms of the number, the amount of documents that you may either want to get initially or from a borrower going through this process or as a follow up for specific documents. So again, quick overview. I know I raced through that kind of quickly, but we're here to talk about Encompass so I want to go ahead and turn things over to Yev and we can kick it off and get into the Encompass conversation. So Yev, you there?

I am indeed. Thank you, Brandon. All right, what I'm going to do, I'm going to share my screen, maybe a thumbs up or some kind of indication that you can see the Encompass screen right now. All right, thank you, Brandon. So just before I kick it off, as Brandon mentioned, there's three ways to leverage Truth to verify income and employment. It's through the POS system. This is where the borrower has the highest intent. They need something, they need a mortgage. So they go through the application flow. Truth comes up when it comes to verifying their income, income and employment. The bridge that Brendan mentioned, they just type in their employer login and in the back end Truth then forward set information to the lender. Very easy. The highest intent, the second highest intent is what I'm going to show you now is through the automation inside Encompass. So what I'm going to do now is I'm going to create a brand new loan. However, in your case and in most 99% of cases, that loan is not created in Encompass, it's transferred from the POS system into Encompass. But because I don't we don't have that tech right now for demo purposes. I'll just create a brand new loan. But just to let you know all the things that I'm entering right now, first and last name, going to call him Randy, in this case Miller. All of that information will be already pre populated coming from the POS system into the corresponding loan in Encompass. So let me just quickly put in the most important things. Again, nothing to worry about. This is all pre populated for you. I'm going to have Randy work at Apple and at Google to employers save and then essentially what I'm doing now is the automation is based on loan creation. So in this case I saved it. So the loan has, was, was created. What happens in the back end is encompasses, goes, goes in, scans all the loans created and then once the condition is satisfied it then triggers that verification of income employment, that link that goes out to the borrower to then go in and then kind of have the borrower go through the flow which I will show you in just a second. This is the very most common use case. Once the loan is taken from POS into Encompass, the loan is created. That's essentially the trigger event that triggers the verification to be going to the borrower. However, some lenders, they have implemented some conditions, they're like okay, I want to send, I want to enable automation but I do want to kind of limit the scope a little bit. One of the lenders we have, they use the FICO score of 620 or higher. So only trigger it once the loan has a combined FICO score of 620 or higher. That's when the loan, the trigger goes out to the borrower to then go through the verification step. That's one way. Another way is based on milestones. So as you can see if I go to logs, there's different milestones in the loan. You can enable a condition that based on the milestone that is triggered, that's when you send out the link to the borrower. So there's really different aspects of where you can set conditions on when the trigger is being sent to the borrower. However, the vast majority of our clients, customers, they actually just go in. Once the loan is created from POS inside Encompass the trigger is sent out to the borrower.

Just to add if I can. Yeah, I think there's also like in terms of this automation where okay, you're, you're getting data from the application, the point of sale, it's now an encompass, this is firing out automatically again we're also looking for for things in the application that you would have collected. Like for instance, I can see at the top of the, this screen here, the borrower indicates in the workflow that they're self employed. They're not going to get the automated link right. It's only going to go to wage earners. Additionally. Yeah, maybe you can touch on this. But the question we get asked a lot from, you know, customers is like, well, how do I know if this thing is automated? How do my teams know that this thing went out? How do I know? Did the borrower do anything? Yeah, maybe you can address that.

Yeah, absolutely. And that's I've been true for one and a half years now. We've really come a long way with the encompass integration and part of the automation is like, okay, the trigger was sent to the borrower. I am not sure what's going to happen. Let me just reconnect. But how do I just like Brandon just mentioned, like how does the loan processor, the loan officer know that it's been going out, that we actually implemented the triggering event, not only sending the verification out to the borrower, but also an email notification to the loan processor or loan officer stating that the corresponding borrower has been notified. So I'm not sure what's happening now, but let me just show you that notification. So this is going out to the loan officer or loan processor. You can choose saying Randy Miller has been notified. And then that's kind of like what we recommend is pick up the phone, call Randy and saying, hey, you just received an email notification to go through the verification step. Please complete it. It's a crucial component of the application. Once it's completed, you're basically good to go. We're not going to ask for any additional documents because truth does return. In addition to the VOE report that Brandon just showed you, also the pay stubs and the W2. So you're essentially getting all of the information directly from the payroll system.

I'll just add to that that, you know, again, true is unique in the sense that it is consumer permission. It is a link that's sent to the borrower. There's a lot of work that we've put in in terms of how we partner with our customers, just in terms of the enablement. You know, when the borrower gets the link, it's branded for the customer. So whether it's, you know, bank of America, Fairway, US bank, whatever it has their branding, their colors, their logo and then in addition to that, you know, what you have might have touched on is you know, it's always helpful to give the borrower the heads up that this is coming. Typically what we have found is that, you know, when it comes to starting the loan process or you know, going into this, borrowers for the most part they're aware that they know that they're going to need to be doing things for you, providing things, verification. Typically what we find in the process that, you know, if you look across all the Personas involved, whether it be the borrower processor, lo, you know, underwriter, whatever, the easiest one to work with is the borrower.

Right?

So a heads up, hey, you're going to get a link. I just need you to log in. I don't need you to do anything. If you can take care of that for me, it's going to speed things up. Our customer success team has all kinds of dialogues that again have actually been ones that we've gotten feedback from our existing customers that just helped us process, get the borrower comfortable, get them engaged, which ultimately leads to, you know, cleaner files, faster underwrite, faster approval.

Thanks, Brandon. So I'm going to my, my, my borrower's hat right now. So this is the email that the borrower just received. As you can see, I've added that Acme logo. There's the company name, the org name. All of that is customizable, as Brandon just mentioned, text field is customizable. The logo based on your branding and the approval of your training department, even the color of the button here is customizable. So all of that is customizable in we call it the custom templates which I will touch on in just a second as well. So the borrower received the link. They click on verify instantly what it does. It will open a truth landing page. We call it a landing page. And then as I'm because I entered Apple and Google, in your case, it'll just be transferred. Whatever the borrower entered in the POS system, it will be automatically transferred into the Encompass system LOS system. So what we'll do is just. Okay, now the borrower, the nature of truth's consumer permission nature is going through each employer and then connects to the payroll system. So start with Apple. So with Apple we know that Apple uses ADP as the payroll system. We've already mapped Apple to adp and with ADP they actually have the API available to do a native reset with what we call the passwordless reset password. Less conviction to the payroll system, which I'm going to show you now. So either if I know my login credentials, easy peasy just put in my login credentials in there. If I don't, because it's been a while that I have been logged in, I can actually use a MFA code to log in. So I'm going to do it now. Please keep in mind this is sandbox mode. So of course this is all going to be sandbox information. So let's assume Randy's email is randymail.com it's not actually sending out an email, it's sandbox. But essentially they enter the phone number or email address associated with the ADP account. That's how ADP identifies Randy as being the account holder. Select sign in. What it does now Randy now gets an email notification with a. Or they choose how they want to get it. Select email. They'll get an email notification with the five digit or whatever digit code, the MFA code. They have to enter it inside here again for login or testing purposes. That's our MFA code. Continue. As you can see here, I didn't reset any password. I didn't create any, I didn't need a password to do it. But I've just successfully connected to the payroll system of Apple which is adp. So we have other payroll systems like Pilocity, so all of that is natively integrated into the bridge or the troop widget that we call it.

So yeah, maybe quickly. I know we could ask this question a lot in the example that you're going through right here. You know this is a borrower that let's say I'm currently at Google, I've been here for six months. I was at Apple previous to that. You know, standard procedures. I want to, I want to verify a two year work history which is why you have both here. What about in cases where like hey, I just want to verify current employment even if they've only been there for a short time. Maybe you can just touch on our support for that.

Yeah, so what I did, given that I created loan just put filled out the basic information. There's actually an encompass, a field that says that you're currently employed usually but also stated inside the truth order just below the company name will just say current. That's how we identify that the employer is current. And then you can set it up in the templates in the automation flow. Once you create the automation with truth and encompass, say that you only select the current employers, send out the link to the borrower and then have them verify only the current employer. So in this case here, now I just verify every employer that they entered in the POS system it's up to 5. However, there is a way to do that. Only current employers are being sent to the borrower in the automation flow so that they only verify the current employer. Thanks for the question.

Yes, standard is 24 months. Correct. So whatever employers would.

Yes. So now Google, same thing. We know that Google uses ukg. So again Brandon mentioned we have a way to help them to reset their passwords if they want to. In this case I'll just put in my good login credentials. Again, this is sandbox. Once all the verifications are done, they'll get a confetti. In this case, as you can see, income verification is done so the borrower is finished. So there is nothing they need to do any further. You don't need to retrieve any documents to send your way. We do it all on the borrower's behalf once they logged into the payroll system. So now I also just got an email notification that the order is completed. So I'll show you that.

So you have quick question. Victor asked a question on the notifications, the notifications that are set up for processors LOS and that kind of stuff. How many people can receive the notification?

Yeah, so right now based on the feedback of customers, current customers, we have. You can set up that the notification goes to the order creator. Obviously in the automation flow it's not sure how technical the people on the line are with Encompass it's the point of contact, email address, whoever that is, that's the order creator for the automation piece. And then. But there is two more Personas we call them that can be added either the loan officer or. And. Or it can be both or all three, the loan processor so you can have all three of them. So the point of contact of the Encompass admin loan processor and loan officer receiving the notification or you can. It's a check mark on our backend that we based on what the customer wants, we set it up on the backend so that for every single order those Personas will get a notification. So just to let you know, this is the notification I've just received as the loan officer or process or whatever sending you have that the order is completed as for Apple and for Google here. So now I can go in into the corresponding loan. So it usually takes a couple of minutes. So just for the sake of time I'm going to open a existing loan that I've already done the verification in the past because I know the documents are absolutely already here. First of all, the GSC section inside GC provider. If I scroll down here, we Populate automatically the reference ID that Brandon talked about from the report. The report ID into the True section for LPA Freddie and of course for Fannie. If there's both co borrower and borrower, we populate both. In this case it's just a borrower. So we populate that report ID into the TU Fannie Mae section as well. So that's all automatic. There's nothing you need to do manual Truth does it through encompasses API for the technical folks, but we do it on your behalf. The other piece is the documents. So I'm going to go into the E folder and as you can see, the pay stubs go into the pay stub folder. The W2 go into the W2 folder. Let me just open one of them. So what we do now. So the default setting is we sent last six pay stubs and the last three W2s. However, I've just created a template again I'm going to the template section in just a second that I only need last two W2s and last two pay stubs. And you can see for each employer which is Apple. This is Apple. I believe given it's a sandbox data it will always show Facebook demo. But let's assume it's Apple. I only have the last two pay stubs here for Apple and only the last two paste up here for Google. So I've created a template that I only need two for each employer. Let's open the verifications one. So by open the correct one because I did a refresh but I want to make sure I show the corresponding. That is not the one. My apologies. There you go. This is the one. I'm going to make it a little larger because again it's the report that you might already know from a existing provider. But Truth generates a very, very similar report. Report ID identity of the user, the borrower, employment, whether they're still active or not, the annual income summary and of course historical data inside there. So what I'm seeing here is actually the borrower has overtime. So whenever there is a constant overtime or commission or bonus, two pay stubs doesn't make the cut. You do need the year end pay stub of the last two years. So there is a template for it. So now I'm going to go in into the template section. So what you see now is not in Compass. This is the Truth Dashboard. We call it truth dashboard.com. it's an admin panel from Truth and I go into the template section here and then you can create a new template by Just clicking the button here. But I've already created the template in the Truth Dashboard and within here, as you can see when I mentioned before, you can add the branding, your messaging, this is all customizable inside that custom template. This is where you can choose what the borrower sees. You can add your logo inside here, a company name you can see when they open the branding, the landing page, same thing. You can customize the text, but when it comes to the actual documents there is a return document section and this is where I select year end pay stub last two years. So 2023 and 2022 if I calculated correctly. Yep. And then obviously the regular last two pay stubs and the last two W2s. So this template here is going to allow me to trigger more templates being no more pay stubs being returned than just the last two. Because then I need the year end pay stub for 2023 and 2022. Okay, let's go back to encompass. Let's see. No, I guess I need to do it here. Yes. So what I'm going to show you now is the, the last, the third way to verify truth. The third way to verify truth is manually and I think it's very similar to what you're using today already. I go to services, click on order verifications, then under my providers, you then select Truth as the provider submit and it will open a UI that is proprietary to Truth on the top right. You will see that it's true. But this is a one way to order it manually and we will now order it manually but then requesting the year end pay stub, adding that template to the year to include the year end pay stub as well. Sometimes encompass takes its time, but usually it shouldn't take too long. If it takes a little longer than five seconds, I'll just close it at the down and open it again if I can.

Yeah, I don't know if we have any underwriters or folks representing processing on the call, but just in terms of sort of walking through this template, this is actually probably our most popular template that we create for the year end paycheck stubs. Again, you see in our report, we're going to break down base salary, we're going to break down, you know, commission bonus, you know, all that kind of stuff. If the report breaks it down, if you're comfortable with it, you can underwrite on it, you're good to go. Right. We do have some cases where you may have a, you know, persnickety underwriter or in some Cases, it's a little unclear. The employee may have some really weird kind of overtime categories, flex time, you know, whatever. And you just really need to get the year end paycheck stubs, you know, in order just to verify that what you're looking at is correct.

Right.

The interface that we have here, this follow up again, I got the 30 days, I got the report, I still want that added level of confirmation that I'm qualifying this correctly. Now you're going in, you're selecting year end paycheck stubs again, you're able to go ahead and retrieve those documents and you're not having to bother the borrower with, you know, logging in and you know, finding the right one or God forbid they found it but they took a picture of it and then they emailed that to you. Again, you're selecting the document. Once the borrower does this, we know what to grab and return that information.

Thanks, Brandon. So this is the manual order to submit it. Again, that information is retrieved from the Form 1003 Borrower & Co borrower. If there is one email address, you do have the ability to if they enter a phone number inside the application, you have the ability to send a text message to the borrower. Again they click on the link, it opens the landing page to log into the payroll system and that's it. This is just a status update. Again by default it notifies the kind of the super admin of encompass. But there is, you do have the ability to enter more email addresses in the manual ordering if you want more Personas to be notified. This is a section where you can add additional email addresses. Product type. You usually always start with income employment and then this is where the template is. The VOIE template here is the default one where I just return two pay stops and two W2s. However you do need more because of the income that they've selected and you see that there's a bonus, there's overtime constant and or there's a commission. You can select the corresponding template. You can then select, as you can see there's actually current, that's a different loan but we do have ability to see whether the employment is current and then you have the ability to then select and deselect whatever employer you want borrower to verify. So in the manual flow you have some flexibility of what you want to select as a template and then which employer you want the borrower to verify when they receive the link.

And yeah, once you create the template it's created, it's always going to be an option in Encompass.

Correct? Correct, yes. So you can have as many templates as you want. Maybe you have really edge cases. Sometimes you need more documents, sometimes less document. Sometimes you don't want any income documents at all except for the, the report with the reference id, that's all you need. So all of that is really customizable to templates. And then that's where you can select in the dropdown which template you want to go with and then send that notification out to the borrower. I want Create Submit. We've already talked about the borrower experience. What I will do now is in the order statuses you do have the ability to see previous orders that have been submitted and you see the status as being pending if it's still outstanding. The borrower hasn't gone to the verification. By the way, 50% of borrowers, high intent borrowers, they complete the verification within two hours and then 66% they completed within between four and six hours. So there's the high intent borrowers, once they get the link, they need something from you again, they'll go through the notifications, the verification steps pretty quickly and then you have all the documents that you need, the pay stubs, W2s and the VOE report. Now when it comes to the 10 day Verbo, just before closing, you need to re verify whether they're still employed. And true has the ability to do that on behalf of the borrower. And what you do now is just you go to order statuses, you select refresh data and I'll walk you through the different sections now. So essentially employment, that's the vast majority of re verifications or refreshes, the 10 day verbose, whatever you want to call it, you just need to confirm whether they're still employed or not. So that's where the default is set. Employment. If you do want to search certain cases, you want both, you want to re verify their income and employment, you have the ability proactively to change from employment into this section. And then some customers, they've given us some feedback, they want employment, but they also want the most recent pay stubs attached to the E folder once the refresh is completed. So you do have the ability to proactively select that option as well, but the default will always be employment so that you don't make any mistakes of getting more documents than you actually need. And employers, you have this, you have the ability to select multiple all of the employers that's previously selected, or if you just need to select one of them, you just need to verify the work at Google, you can do that 75% of the time. Once I click on Continue Truth already has the borrower's credentials. They go on behalf of the borrower, go into the payroll system and retrieve the corresponding information that you're requesting here. In this case, it's employment. There is rare occasions 25% of the time where the payroll system once again asks a MFA code, the Multi Factor Authentication code. That's when we cannot complete the action without the borrower's intervention. In this case, what you will see and let's do it. I will continue. In this case. You can see there is a refresh in progress button here. We recommend staying on this page here for around within 60 seconds you will know whether it's successfully refreshed without the borrower's intervention, or whether there is an MFA code being asked by the payroll system and we need to potentially notify the borrower. So the refresh is in progress. You can see here data successfully refreshed. It means we were able to go into the payroll system. There was no hurdles in between, no MFA code being asked, no change of the password in between. And we were able to refresh and return a updated VOE report for only employment. So you're good to go. In those rare occasions of 25% there will be a pop up here. That's why we recommend staying on this page when you refresh stating hey, we were not able to verify automatically. Do you want to notify the borrower or do you want to proceed with an alternate solution of doing the 10 day workflow? If you select notify the borrower again, it's a pop up. Here you select notify borrower again, the borrower will just receive another email. Again the text will just say hey, we would like to verify. It's a 10 day refresh. We need to be verified. We just need to click on this link again it opens the we already know the employer that you wanted to verify. They just entered the MFA code in there. Submit success and again you'll be notified once that's successful and you can go into the E folder to retrieve the updated VOE report.

Yeah, I think if I can. Obviously, you know, if verifying it without having to get the borrower involved, certainly that's the most ideal situation. As you have pointed out, in those cases where the borrower does need to be involved again, it's because their employer has some type of layer security layer, you know, multi factor authentication that requires it. Again, I think this really goes back to the borrower engagement, you know, communicating with them, letting them know that, hey, you know, we're going to be verifying your employment. We're going to do it electronically. You know, we may need to do this a subsequent time. We'll keep you posted. Again, typically we find with that layer, that level of communication, that borrowers have no issue. They're happy to do it.

Yeah. And then you have the ability to download the VAV report directly from the page. But obviously this is still trying to upload. Let me just show you one that is already in here. But obviously that document will also be inside the E folder. Very similar to what you're used to with the report we just showed before. Let me make it a bit larger with the updated reference id. But in this case we only give you the employment status. We don't add the income information below that. So that's the kind of the BoE only verification of employment only report in here. Do we have any questions in the chat that we want to answer? This is essentially it. We've talked about three ways of verification. POS is highest intent. It's within the application process. I've showed you the automation, the notification to the lo or the loan processor that the automation has been sent out to the borrower. We always encourage to call the borrower once you get that notification, just to tell them, hey, you've just received the link. We really encourage you to go through the verification step. It's a very crucial part of the application. Once they logged in successfully, we send all of your documentation into the E folder. You can either map it into the corresponding folder that I just mentioned before. Maybe I'll just for visual aspect, I'll open it again. Or you can lump sump it into. We always create a folder called Verification. You can lump sum with all of the documents inside the folder that we've created on your behalf called Verification. So it's up to you how you want to map the files into the folders. Whether map it to paystubs to paste up W2 to W2s, or everything goes into a folder called Verifications.

What about cases where they have custom folders where they've created something on their own that's unique to them? What about those situations?

So yeah, here's an example. That is a custom folder. So again.

What.

When you set up the integration between Encompass and Truth and then you start doing the mapping, all of those custom folders will show up in the mapping. So you essentially say, actually I want the paystubs to go into a specific custom folder. So you map it, say that all the paystubs go into the custom folder. So that's absolutely possible, yes.