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Pylon and Plaid Team Up to Streamline Verification in Programmatic Mortgage Originations

Pylon and Plaid Team Up to Streamline Verification in Programmatic Mortgage Originations

Business Wire6 days ago
MENLO PARK, Calif.--(BUSINESS WIRE)-- Pylon, the programmatic mortgage infrastructure provider for modern originators, today announced a partnership with Plaid, a leading open finance data platform. Through this integration, Pylon customers can seamlessly access Plaid's income and asset verification services –critical data sources that power key stages of the mortgage underwriting process–without additional steps.
This integration brings us closer to fully programmatic originations.
Verifying a borrower's income, assets, and employment is essential to underwriting, yet most lenders still rely on manual uploads of documents like paystubs and bank statements. With Plaid embedded in Pylon's mortgage automation software, asset and income data can be programmatically retrieved and verified. This accelerates automated mortgage processing, reduces manual work and processing costs, and improves the borrower experience.
Whether customers use Pylon's out-of-the-box Elements or build on the API, Plaid is fully embedded. Pylon handles credentialing, compliance, and billing on behalf of its customers, enabling a frictionless, secure way to activate verified data sources as part of a fully automated origination flow.
Plaid is an approved vendor under both Fannie Mae's Day 1 Certainty and Freddie Mac's AIM initiatives, allowing verified asset data to bypass manual underwriting. When combined with Pylon's automated credit, compliance, and capital workflows, these verified data sources accelerate automated mortgage processing by moving loans faster from application to underwriting and, in many cases, directly to closing.
'Plaid is the market leader in financial data access, and the ability to instantly verify assets and incomes is an important piece of mortgage automation,' said Trent Hedge, CEO of Pylon. 'This integration brings us closer to fully programmatic originations. We look forward to expanding our partnership with Plaid in the future.'
To see how the Pylon + Plaid integration can streamline your mortgage origination, contact us at sales@pylonlending.com.
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