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Checkr buys Truv to expand income verification for mortgages and benefits

The acquisition adds Truv’s API network, which covers 96% of the U.S. workforce, and extends Checkr verification into government benefits eligibility checks.

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Checkr has acquired Truv, an income, employment, and asset verification provider, to expand Checkr’s mortgage and tenant screening capabilities and to enter government benefits eligibility verification, the company announced.

Checkr said Truv connects directly to payroll providers and financial institutions on a consumer-permissioned basis to verify income, employment, and assets in real time. Truv’s network reaches 96% of the U.S. workforce, a coverage level that is designed to help lenders and public agencies move away from pay stubs and manual checks toward automated, source-level data.

The company positioned the added data access as a way to speed borrower verification and reduce income fraud, which Fannie Mae has said accounts for about half of the fraud findings in its investigations. It also noted that faster, more reliable verification can support automated underwriting, a need heightened by thin margins and volatile loan volumes.

Checkr said the deal also targets government programs facing pressure to reduce payment errors. It pointed to the Government Accountability Office estimate that major federal programs generated about $186 billion in improper payments last year, and cited Truv’s existing work with state agencies on Medicaid and SNAP eligibility.

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