NEW YORK CITY, N.Y. — Argyle, a platform providing real-time income and employment verifications for some of the largest lenders in the United States, today announced its CEO Shmulik Fishman has been named a 2024 Tech All-Star by MBA NewsLink, a publication of the Mortgage Bankers Association (MBA). The award celebrates mortgage industry leaders who have made outstanding contributions to mortgage technology. In bestowing the honor upon Fishman, MBA NewsLink referenced the transformative impact of Argyle, the company Fishman founded in 2018, and its verification of income and employment (VOIE) methodology.
Verifying loan applicants’ income and employment has long troubled lenders, with traditional providers achieving only 20-30% success, often requiring costly manual intervention. These outdated solutions are ill-suited to today’s workforce and expensive for lenders at a time when origination costs have risen to untenable levels.
Before Argyle, “automated” verification meant paying high fees for outdated, inaccurate consumer data. Fishman launched Argyle to create fast, affordable, consumer-permissioned connections between payroll processors and businesses. Under his leadership, Argyle has achieved an industry-leading conversion rate of 55% while saving companies an average of 80% on total verification costs. Since the beginning of 2023, 98 mortgage lenders have adopted Argyle for VOIE services.
After founding Argyle less than six years ago, Fishman prioritized the creation of its mortgage-specific division. Under his leadership, Argyle became the first consumer-permissioned provider to support Day 1 Certainty(r) as an authorized report supplier for Fannie Mae’s Desktop Underwriter(r) (DU(r)) validation service. Fishman also shepherded the company’s successful integrations with the Empower loan origination system (LOS) from Dark Matter Technologies, ICE Mortgage Technologies’ Encompass LOS and nCino’s Mortgage Suite. To further enhance Argyle’s mortgage bench strength, he recruited industry veterans Sam E. Oliver III (a three-decade Freddie Mac veteran) and Jason Cave (former chief fintech officer for the Federal Housing Finance Agency) to its advisory board.
“We’re on a mission to build a universal network for consumer-permissioned income and employment data to modernize mortgage lending in ways that improve business efficiencies and transform lives,” said Fishman. “The entire Argyle team strives to deliver meaningful cost savings, faster processing and underwriting and a superior customer experience, and we’re growing and innovating every day.”
The MBA Newslink announced the Tech All-Star award winners Tuesday at the MISMO Spring Summit in San Francisco. Read the full list of winners here: https://newslink.mba.org/mba-newslinks/2024/june/mba-honors-2024-newslink-tech-all-stars/.
About Argyle:
Founded in 2018, Argyle is backed by top investors, including Bain Capital Ventures, SignalFire, Checkr, and Rockefeller Asset Management. Argyle is the leading provider of direct-source access to real-time income and employment data. With Argyle, companies automate critical workflows-including income and employment verifications, deposit switches, wage advances and loan repayments-so they can build better, more efficient processes, reduce risk and scale their business. Argyle largely serves the mortgage, background check, personal lending and banking industries as well as the gig economy.
For more information on Argyle’s industry-leading platform, please visit https://argyle.com/.
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Related link: https://www.argyle.com/
This news story was published by the Neotrope® News Network – all rights reserved. ID:NEO2022