Truework’s Verification of Assets (VOA) helps lenders quickly verify borrower funds for down payment, closing costs, and reserves—without chasing bank statements. Borrowers securely connect their bank, and lenders receive a standardized, GSE-aligned asset report in minutes.
What you get with VOA
Standardized asset report delivered in under 10 minutes
Available cash and current balances per account
Historical balances across a configurable lookback period (2–24 months; team-level setting)
Transaction review with automatically flagged large deposits based on GSE thresholds
Account metadata (institution, account type, owner name; account number where available)
Clear coverage dates per account (so you see exactly what period was returned)
Reverification support using the borrower’s existing bank connection when possible
How VOA works inside Truework
The experience is designed to be straightforward for both lenders and borrowers. Here's how it works:
Order VOA alongside VOIE—or on its own: Lenders can request asset verification as part of an existing Direct session with VOIE or as a standalone order across API, web app, Direct, and LOS integrations, including Encompass.
The borrower connects their bank—once: Borrowers connect their bank instead of uploading statements, and borrowers can often reuse existing connections for reverifications.
The report is delivered in under 10 minutes: Lenders receive a standardized report with available cash, historical balances across the configured lookback period, and automatically flagged large deposits based on GSE thresholds. Lookback periods can be configured at the team level from 1 to 24 months.
The result is a clean, consistent asset report that's ready to review and submit, just like the standardized income and employment reports you've come to expect from Truework.
Common Troubleshooting and Tips
| My borrower can't find their bank. | Use search and consider alternative institution brands or subsidiaries; coverage spans the vast majority of U.S. banks and credit unions. |
| Only partial data was returned. | The report will clearly state covered dates per account; request reverification if you need a longer period and the institution supports it. |
| There was an unexpected large deposit flagged in the report. | Supply a qualifying income parameter to align thresholds with your underwriting context. |
FAQ
Can I order VOA without VOIE? Yes. VOA can be ordered standalone across API, the Truework web app, Direct, and LOS integrations (including Encompass). You can also add VOA alongside VOIE within a single Direct session. |
How fast is VOA? Most VOA reports are delivered in under 10 minutes after the borrower connects their bank. Timing can vary by institution responsiveness and account count. |
What lookback options are available? Teams can configure a 1–24 month lookback. If the institution’s maximum is lower than your setting, the report will include the shorter, institution-allowed period and clearly display the coverage window. |
How are large deposits flagged? Truework flags large deposits per GSE thresholds. If you provide a qualifying income value, we use it as the basis. Otherwise, we estimate a gross monthly income from bank data to set the threshold and flag deposits accordingly. |
Can I reverify assets later? Yes. When possible, Truework reuses an existing borrower bank connection to refresh data for reverification, reducing borrower friction and turnaround time. |
Where do I find completed VOA reports in Encompass? Completed VOA reports and cost-confirmation receipts appear in the Encompass Documents eFolder under the “Verifications” label. You’ll also receive an email notification when they’re ready. |