Pylon, a programmatic mortgage infrastructure provider for modern originators, has announced a strategic partnership with Plaid, a leading open finance data platform. This collaboration integrates Plaid’s income and asset verification services directly into Pylon’s platform, streamlining critical stages of the mortgage underwriting process by enabling programmatic access to essential borrower data.

Traditionally, verifying a borrower’s income, assets, and employment for mortgage underwriting has often relied on manual submission and processing of documents such as paystubs and bank statements. The integration of Plaid into Pylon’s mortgage automation software allows for the programmatic retrieval and verification of asset and income data. This process is designed to accelerate automated mortgage processing, reduce manual effort and operational costs, and enhance the overall borrower experience.

Plaid’s services are fully embedded within Pylon, whether customers utilize Pylon’s out-of-the-box Elements or build on its API. Pylon manages the credentialing, compliance, and billing aspects on behalf of its customers, providing a secure method for activating verified data sources as part of an automated origination workflow.

Plaid holds approved vendor status under both Fannie Mae’s Day 1 Certainty and Freddie Mac’s AIM initiatives. This designation allows verified asset data to potentially bypass manual underwriting. When combined with Pylon’s automated credit, compliance, and capital workflows, these verified data sources are intended to expedite automated mortgage processing, moving loans more rapidly from application to underwriting and, in some instances, directly to closing.

Trent Hedge, CEO of Pylon, stated, “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. This integration brings us closer to fully programmatic originations. We look forward to expanding our partnership with Plaid in the future.”