Payroll Connect
Please note that the payroll connect features described here are only available if you are properly configured to use the third-party provider in Informed and have an account with the third-party provider either directly or through Informed.
Overview
Payroll connect allows for the use of third-party consumer-permissioned data platforms directly within the CollectIQ workflow such that applicants are able to provide digital data from payroll providers or HR platforms directly to lenders.
Informed currently supports the following third-party providers to collect consumer-permissioned data used in clearing Proof of Income verifications:
If you are interested in the offerings of the payroll connect features or would like to see a demo, please contact your Account Manager.
Truework
Informed leverages the Truework Credentials product within the CollectIQ workflow to allow applicants to log into their payroll provider in order to provide income data relevant to their loan application.
The income data provided by the applicant's payroll provider is used by Informed to verify Proof of Income, and all of the data that Truework provides is passed back via the normal asynchronous extractions and verifications webhook callbacks along with an Employment Income Verification Report.
Employment Income Verification Report
Truework provides an employment income verification report that summarizes the digital data from the payroll platform into a document. Informed will pass this document back along with the digital data elements that are provided by Truework in an abbreviated format similar to that of paystubs (see example responses below).
Informed treats the employment income verification report as a document relevant to Proof of Income. The document is classified as an Employment Income Verification Report.
Example extractions response
{
"event_type": "extractions",
"application_id": "unique-Informed-app-id",
"application_reference_id": "partner application id",
"documents": {
"employment_income_verification_report": [
{
"data_action": "create",
"document_id": "457580d0-a20e-4b25-8deb-5f9746175527",
"file_ids": null,
"file_reference_ids": null,
"updated_at": "2023-09-18T14:04:39Z",
"url": "https://informed-techno-core-...",
"extracted_data": {
"bonus_pay": {
"current": 0,
"ytd": 0
},
"commission_pay": {
"current": 0,
"ytd": 0
},
"current_as_of": "2023-12-31",
"employee_status": "active",
"employer_address": {
"address": "",
"city": "",
"state": "",
"zip": ""
},
"employer_name": "Fake Company",
"first_name": "Jo",
"gross_pay": {
"current": 0,
"ytd": 100000
},
"hire_date": "2020-01-01",
"last_name": "Boren",
"other_pay": {
"current": 0,
"ytd": 0
},
"overtime_pay": {
"current": 0,
"ytd": 0
},
"pay_year": "2023",
"paystubs": [
{
"base": 100000,
"bonus": 0,
"commission": 0,
"gross": 0,
"net": 0,
"other": 0,
"overtime": 0,
"pay_date": "2023-12-31",
"pay_period_end_date": null,
"pay_period_hours": 0,
"pay_period_start_date": null
}
],
"regular_pay": {
"current": 0,
"ytd": 100000
},
"salary": {
"frequency": "biweekly",
"hours_per_week": null,
"pay_rate": {
"amount": 150000,
"unit": "annually"
},
"reduced_covid": "unknown"
},
"ssn": "***-**-0000",
"termination_date": null
}
}
]
}
}
Example verifications response
{
"event_type": "verifications",
"application_id": "unique-Informed-app-id",
"application_reference_id": "partner application id",
"data_sources": {
"image_files": [
],
"structured_data": [
{
"document_id": "457580d0-a20e-4b25-8deb-5f9746175527",
"document_reference_id": "AAAAAAAGGOkAC_EIhUH9ULvOao4CHaa-j0_PDIB6yXdyMGcTNyvBTufF"
}
]
},
"verifications": {
"income": [
{
"status": "pass",
"belongs_to": "applicant1",
"updated_at": "2023-09-18 14:04:40 +0000",
"verification_questions": {
"poi_documents_used": {
"answer": "Employment Income Verification Report",
"expected": "",
"question": "Which document was used to calculate income?",
"status": "pass"
},
"poi_income_from_employer": {
"answer": "$150,000.00",
"expected": "",
"question": "What is the income from the employer?",
"status": "pass"
},
"poi_income_within_threshold": {
"answer": "$150,000.00",
"expected": "$150,000.00",
"question": "Is the applicant's income in-line with that what s/he stated?",
"status": "pass"
}
},
"acceptable_documents": {
"employment_income_verification_report": [
{
"category": "Employment Income Verification Report",
"document_id": "457580d0-a20e-4b25-8deb-5f9746175527",
"file_ids": [
],
"file_reference_ids": [
],
"document_questions": {
"document_source": {
"answer": "Truework",
"expected": "",
"question": "Document source?",
"status": "pass"
},
"first_working_day": {
"answer": "2020-01-01",
"expected": "",
"question": "First working day of the year?",
"status": "pass"
},
"is_issued_recently": {
"answer": "",
"expected": ">=03/10/2021",
"question": "Issued within 60 days of the contract date?",
"status": "review"
},
"matches_employer_name": {
"answer": "Fake Company",
"expected": "Fake Company",
"question": "Matches the applicant's employer's name?",
"status": "pass"
}
}
}
]
},
"description": "The applicant's income is in-line with what s/he stated based on the Employment Income Verification Report. Informed searched for an Employment Income Verification Report and found one in the deal jacket. The Employment Income Verification Report may not be issued within 60 days of the contract date; a manual review is needed. The Employment Income Verification Report has a document source. The Employment Income Verification Report matches the applicant's employer's name.",
"recommendations": [
]
}
]
}
}