Plaid Asset Product

Enhanced Underwriting Signal

By incorporating up to two years of historical bank data, businesses can improve their underwriting model, reducing the risk of fraud and offering more competitive loan terms.

Up-To-Date Information

Plaid’s system ensures that the data collected is current at the time of connection, offering accurate, timely financial insights that can aid in decision-making.

Asset Report Creation

Users can generate an Asset Report that consolidates financial information from multiple financial institutions into a single, standardized report. This can be downloaded in either JSON or PDF format, providing a clear and concise summary of a borrower’s financial situation.

Real-time Verification

It enables businesses to digitize and automate the borrower verification process in real time, reducing the need for manual document uploads and speeding up loan applications.

Comprehensive Borrower Financial Snapshot

The Asset product allows businesses to gather in-depth information from a borrower’s bank account, including account balances, historical transactions, identity data, and other key financial information.

Integration with Loan Systems

Plaid integrates directly with systems like Fannie Mae’s Desktop Underwriter® and Freddie Mac’s Loan Product Advisor® Asset and Income Modeler (AIM), enabling seamless asset verification and underwriting for mortgage lenders.

Ongoing Monitoring and Refresh

The Asset product supports ongoing monitoring of borrower data, allowing businesses to refresh information as often as needed without requiring additional borrower action.

Consumer Control and Transparency

Borrowers have full control over their financial data, including permissioning access for credit purposes, reviewing the information before sharing, and revoking access once the data is no longer needed.