Case Study: Compass Mortgage cuts verification costs 43% and lifts conversion to 58% with Argyle
Key results
The challenge
Compass Mortgage, a retail independent mortgage banker headquartered in Warrenville, Illinois, had tried multiple verification providers in search of a dependable, cost-effective option. With The Work Number, high fees were compounded by data that frequently did not match borrower documentation, forcing staff into labor-intensive follow-up with employers and delaying underwriting.
The solution
Compass made Argyle its primary verification provider, positioning it first in the verification waterfall and integrating with its Blend POS platform. It also activated Argyle's Doc VOI functionality for cases without direct payroll connectivity.
“We needed a more affordable option that gave us direct access to a borrower's payroll data and allowed us to retrieve it quickly.”
NCNicki CatherSenior Vice President of Loan Operations, Compass Mortgage
The results, in context
Compass reduced verification costs by 43%. Verification of income and employment (VOIE) conversion rose to a consistent 58%, up from a range that had dipped as low as 33% and averaged around 41%. Of Doc VOI submissions, 37.5% received AIM validation.