Xactus has partnered with Plaid to enhance its Xactus360 platform, introducing new verification capabilities.

The collaboration will integrate Plaid’s Verification of Assets (VOA) technology, which adheres to the Fair Credit Reporting Act (FCRA). This integration will offer mortgage lenders expanded options for verifying assets.

Enhancing Data Accessibility

Lenders will be able to connect directly to consumer bank accounts using Plaid’s secure data-sharing framework. Upon user consent, lenders can obtain comprehensive reports containing up to two years of transaction history, categorized inflows and outflows, account balances, and asset-derived income. The system is designed to ensure regulatory compliance while supporting faster verification processes.

Xactus representatives stated that this partnership will provide lenders with enhanced flexibility in managing borrower information more efficiently through a unified platform. It will support quicker and more accurate asset verification for financial institutions.

Streamlining Loan Applications

Plaid officials noted the growing importance of using consumer-permissioned data to evaluate loan risks. This partnership aims to expand access to digital verification in the mortgage sector, enabling lenders to verify borrower information in real time and streamline loan approvals.

The solution will be available through Xactus360, alongside existing tools for credit, income, and employment verification. It will also integrate with systems like Fannie Mae’s Desktop Underwriter validation service and Freddie Mac’s Loan Product Advisor asset and income modeller.

Future Partnerships

Xactus plans to continue expanding its Intelligent Verification Platform through strategic partnerships that improve automation and operational efficiency for lenders.