Floify Verify

Overview

Access and verify income and employment information with Floify Verify, our new VOI/E tool. Floify Verify allows users to access borrowers' income and employment information. The tool will generate a verification report and automatically upload income and employment documents (W-2s, 1099s, and Paystubs) provided by borrower-connected employer payroll systems.

This tool helps you verify anyone's income and employment in minutes, improving the decision-making process. We've partnered with Argyle to provide a seamless and secure solution for accessing verified income and employment data. Borrowers can directly connect their employer or payroll accounts in their borrower portal, ensuring real-time access to up-to-date information. This real-time connection improves the accuracy of lending decisions, reduces the risk of buybacks, and saves time by instantly retrieving the necessary income documents.

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How to Setup

You can read our setup article here: Setting Up Floify Verify

If you need any assistance with setting this up, please do not hesitate to reach out to our team at support@floify.com. 

Running Reports

You can read our article about using this feature here: Running VOI/E Reports Using Floify Verify

This linked article discusses using this feature once it is set up.

FAQ

Q: Where can I view current pricing for reports?

A: Review our pricing page here: https://floify.com/pricing#floify-verify or speak to your Customer Success Manager if you are on an enterprise plan

Q: Does this connect to my LOS integration

A: All generated documents will send over the LOS integrations as any other document request would. Additionally, if you are integrated with Encompass, the GSE field will be populated with report ID automatically (Field ID: GSEVENDOR.X60)

Q: What documents are generated? How far back can the reports go?

A: The report can retrieve the following:

• • Last 3 years of W-2s
  • Last 3 years of 1099s
  • Last 6 Pay-Stubs
  • Last 3 years of year-end paystubs

Q: What happens if there is not enough data to generate a report?

A: Users will not be charged and a report will not be generated

Q: How does this work with Auto-Doc requests?

A: This can potentially duplicate requests, so it is advised that W-2, paystubs and other related documents from the workflow are removed from the auto-doc request rules under Apply Now

Q: Can these documents be Automatically accepted?

A: Not currently. All documents will need to be reviewed and accepted by your team