Case Study: First United Bank cuts verification spend by 65% with Argyle
Key results
The challenge
First United Bank, a privately held community banking organization established in 1900 with approximately $16 billion in assets and more than 80 locations across Texas and Oklahoma, ran a distributed retail mortgage group of roughly 100 loan officers. As loan volumes grew, third-party verification that once cost $20 to $25 per file became a meaningful expense, prompting the bank to centralize ordering and push verification later in the loan process, which reduced early borrower engagement.
The solution
First United partnered with Argyle to embed payroll-based verification of income (VOI) and employment (VOE) directly into its LiteSpeed point-of-sale platform, with native integration to its Encompass loan origination system, restoring point-of-sale verification.
“We feel comfortable putting payroll-based VOI and VOE in front of every borrower. At Argyle's price point, even if more than half complete the verification, the economics still make sense.”
GCGerrin ChenaultVP & Director of Project Administration and Mortgage Systems, First United Bank
The results, in context
First United cut verification spend by 65%, lowering monthly costs from approximately $125,000 to under $40,000. With verification reintroduced at the point of sale, completion reached 47% in peak months, reflecting stronger borrower engagement.