The mortgage industry faces a critical challenge: profitability. The most recent Mortgage Bankers Association Quarterly Mortgage Bankers Performance Report highlighted #mortgage lenders' ongoing financial struggles, with net production losses persisting for eight consecutive quarters. Despite the innovative strides made in #fintech, industry adoption remains stubbornly low, contributing to high origination costs through the steep price of legacy solutions such as The Work Number. Former chief fintech officer and deputy director of FHFA’s Division of Conservatorship Oversight and Readiness Division Jason Cave stresses the urgency for collective action to embrace newer technologies as a valuable cost-saving measure. Read the full article as published by HousingWire: https://lnkd.in/gmY4ZqNE #innovation #mortgagelending #finance
Argyle
Financial Services
Build modern financial services on the most trusted network for income and employment data.
About us
Argyle is the payroll connectivity platform for modern financial services. We provide fast, cost-effective, consumer-permissioned access to the most trusted network for real-time income and employment data. With Argyle, businesses automate verifications and background checks, fund accounts, switch direct deposits, calculate premiums, advance wages, and build more exceptional experiences for their customers. Founded in 2018, Argyle’s coverage of U.S. consumers is superior to the three largest credit bureaus and delivers hit rates 4 to 5x higher than all other data providers at a fraction of the cost.
- Website
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http://argyle.com/
External link for Argyle
- Industry
- Financial Services
- Company size
- 51-200 employees
- Headquarters
- Remote First
- Type
- Privately Held
- Founded
- 2018
Products
Argyle
Financial Data APIs
Argyle’s Income & Employment Verification solution integrates with lenders’ point-of-sale (POS) and loan origination systems (LOS) to instantly retrieve the income and employment data loan officers need to confidently verify borrowers’ income and employment status prior to funding a loan. Argyle Paycheck-Linked Lending makes it easy for borrowers to repay their loan directly from their paycheck, reducing first payment default risk and improving credit performance.
Locations
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Primary
Remote First, US
Employees at Argyle
Updates
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📣 Announcing Argyle’s new features for enhanced user experience and conversion! We’re excited to share the latest updates to our Encompass Integration and Argyle Console, designed to set new standards in UX and conversion: 🔹 Employer Match: Effortlessly link borrowers to their income sources, reducing friction and boosting conversion rates up to 30 percentage points. 🔹 Troubleshoot Messages: Identify and resolve connection issues swiftly, ensuring data accuracy and reliability. 🔹 Cc Your Team: Keep your team members in the loop with easy coordination of income and employment verifications. Check out the full announcement on our blog ⏩ https://lnkd.in/gm_6jECR #MortgageTech #MortgageLending #Innovation #FinTech #Mortgage
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In today’s episode of Direct-Source Discourse, Kelly Good of ALCOVA Mortgage and Argyle’s Daniel Esquibel tease out the secret to successful technology adoption. Watch the full episode to learn how a Southern belle who dreamed of opening her own salon à la Steel Magnolias became a #mortgage powerhouse instead: https://lnkd.in/gPyrNrRc #fintech #mortgagelending #innovation #podcast
DSD Episode 2: Mortgage Tech Makeover, Kelly Good Style
argyle.com
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At first, NFM Lending was skeptical that borrowers would remember their payroll credentials for #verification of income and employment, but the award-winning IMB quickly found that wasn’t a hurdle. And with cost savings of $100 per loan, Argyle is saving NFM 80% on its overall verification costs — which is why it now sits at the top of NFM’s #VOIE waterfall. Says Chief Strategy Officer Cindy Keith, “Argyle is at the top of our verification waterfall because they give us one-stop access to all of the income data and documents we need. Only after Argyle do we move on to other options, where prices might increase.” Read the case study: https://lnkd.in/gMhmX4vn #mortgage #fintech #mortgagelending #innovation
Argyle & NFM Lending
argyle.com
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At Argyle, we’re proud to be the Silver Sponsor for the upcoming Lenders One Mortgage Cooperative Technology Basecamp on Thursday, August 8th in Annapolis, MD! ⛵ Annapolis, the capital city of Maryland, is an historic and picturesque destination nestled along the Chesapeake Bay. Set sail with Lenders One for a Basecamp experience like none other. The Catherine Marie, L1’s private charter, will play host to education sessions focused on Technology with impactful networking as we cruise the Chesapeake Bay. Following cocktails in the harbor, L1 will cap off the event with a quintessential Maryland crab feast, offering additional networking and good cheer on Main Street in historic downtown Annapolis. Registration is open to L1 Members only. Register today to ensure your spot on the Catherine Marie and we can’t wait to see you there! https://lnkd.in/g7rV3mEf #WeAreL1 #L1Basecamp #LendersOne
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🔍 More than 50% of the mortgage origination process can be automated, yet most banks are still playing catch up. Chief among mortgage’s inefficient workflows is verifications. Manual verifications slow down approvals and frustrate borrowers, and legacy databases like The Work Number are costly and prone to errors. In other words, it's time for banks to rethink their mortgage and loan services software to stay competitive. Discover how the right mortgage technology can transform your lending process: https://lnkd.in/gpWFjagC #MortgageLending #MortgageTechnology #Lending
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Today, Mastercard Open Banking has announced the integration of credentialed payroll into its Open Banking platform—delivered in partnership with Argyle. This expansion of their Verification of Income and Employment (VOIE) solution offers a seamless and secure verification experience, providing reliable data at speed. We’re proud to play an integral role in Mastercard's platform. Read the full announcement here: https://lnkd.in/dJMEqf_j #FinTech #OpenBanking #FinancialInnovation #IncomeVerification
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According to a recent study from Freddie Mac, the already-high cost to originate #mortgage loans rose another 35% in the last three years. The cost burden on #lenders and borrowers is more than a nuisance; it’s an existential problem that threatens the future of #housingfinance. Lenders are searching high and low for ways to cut costs, and vendors whose pricing exacerbates the problem are getting called out, as evidenced by the current class-action suit against Equifax’s The Work Number. https://lnkd.in/g2t3aD6f Argyle helps lenders reduce the cost of VOIE by 60-80%. Those are savings lenders can pass on to borrowers struggling to purchase homes amid high interest rates and low housing inventory. Discover a better way to verify today: https://lnkd.in/gdEKez7u #verification #mortgagelending #fintech #innovation
Argyle vs. The Work Number (TWN)
argyle.com
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📉 After eight consecutive quarters of net production loss in #mortgagelending, it’s clear that something’s got to change. And if you ask former FHFA Chief Fintech Officer Jason Cave, the problem isn’t a lack of innovative ideas that could save lenders and consumers money— it’s our industry’s inability to adopt and execute #fintech at scale. Jason's new article in HousingWire sheds light on the need for radical approaches to fintech adoption. What do you think? As for Argyle, we believe in the power of fintech to transform processes, cut costs, and improve efficiency. It's time for structured, comprehensive adoption and a shift in organizational culture. Let's embrace change and drive our industry forward together. Read the article here: https://lnkd.in/gmY4ZqNE #mortgage #innovation #housing
It's time for collective action on fintech adoption - HousingWire
https://www.housingwire.com
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Join us in congratulating our CEO Shmulik Fishman for winning a spot among Inman’s Best of Finance honorees! The award honors industry leaders and innovators hand-picked by the Inman editorial team for pushing the envelope to reshape the homebuying space. Since the beginning of 2023, Argyle has welcomed 98 mortgage lenders who have seen time savings of 5–7 days per loan and cost savings of 60–80% since switching to Argyle. While Shmulik is proud of those metrics, he’s even prouder of the way Argyle is changing the industry for the better. Read our press release for the full story: https://lnkd.in/gR4FF_D5 #innovation #fintech #mortgage #mortgagelending #verification
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