The Free Toaster

E029 - Income Verification, With Kirill Klokov, CEO at Truv

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We sit down with Kirill Klokov, CEO of Truv, to break down everything lenders need to know about income verification providers. 

Vetting Income Verification Vendors

  • Why most providers use the same underlying data sources
  • The power of back-testing analysis on your own data
  • Smart questions sophisticated lenders ask during RFPs

    • The Consumer Experience

    • Why 35% of users drop off at bank login screens
    • How to build a smart "waterfall" approach (spoiler: start cheap, then hit instant databases)
    • The messaging that actually works with borrowers

      • Beyond Basic Income Verification

      • Why a "complete product" covers W2s, gig workers, benefits, and self-employed
      • How payroll data beats bank data for complex income situations
      • The complexity of underwriting sales reps vs. salaried workers

        • AI's Impact on Lending

        • How AI is eliminating manual QA and bug fixes
        • Why payroll data becomes more valuable as AI-generated fraud gets better
        • The future of mortgage loan officers (hint: they're not going anywhere)

          • Truv's New Business Model

          • Their shift from per-transaction pricing to "pay when the loan closes"
          • How this aligns incentives and removes upfront risk for lenders

            • Find Kirill Klokov on LinkedIn:

            https://www.linkedin.com/in/kirillklokov/



            ***


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            A word from our sponsor, New Market Growth:

             

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