Maxwell integrates with Plaid to provide VOA functionality via a Maxwell task. After the integration is configured, you can assign a VOA task to your borrower. Once they connect their bank accounts, you can pull a consolidated Asset Report showing account balances, historical transactions, and account holder activity information. You can also refresh these reports during the loan process so you’ve always got an up-to-date view.
This video walks you thru the process:
- Assigning a task to your borrower
- The borrower connecting their accounts
- Retrieving an Asset Report
Here's an overview of the process:
- Create a new Verification task, & choose Assets
- If a submitted loan app is present, we'll prefill the name and SSN. You can select to assign to the borrower, coborrower, or both.
- The borrower logs into Maxwell & connects their bank accounts.
- You'll be notified when accounts are connected. Open the borrower's loan file, find the VOA task, & click the Generate Report link.
- Choose the time period & accounts. It can take a couple of hours to a day for the report to be ready.
- You can refresh the asset report at a later date.