Homestead triples VOIE savings by moving Argyle to the POS

About Homestead Funding

Founded in 1995, Homestead Funding Corp. (Homestead Funding) a family-run, multi-state licensed mortgage lender headquartered in Albany, New York, where it is the area’s largest independent mortgage lender. With branches across the eastern United States, the company has served tens of thousands of customers, originating billions of dollars in residential mortgage loans. Offering a mix of traditional and innovative mortgage products, Homestead Funding guides clients from pre-qualification to closing and beyond to ensure tailored financing solutions for evolving homeownership needs.

Challenge

When it came to verifications of income and employment (VOIE), Homestead Funding was looking for more than just tech—the company needed a way to cut costs and improve accuracy for its 150 loan officers. Homestead Funding relied heavily on The Work Number, which could charge up to $200 for each loan in combined verification and reverification. Those costs added up quickly.

Jeanne Sim is the first to spot promising technology at the company. As executive assistant reporting directly to the senior vice president of operations, she reviews vendor demos and identifies which solutions are worth advancing for deeper evaluation.

“The Work Number’s costs just continue to increase year over year over year, so we were looking for an alternative,” Sim says. 

Homestead Funding also wanted more reliable data for drafting pre-qualification letters, as the income ranges self-reported by borrowers weren’t always accurate.

“Maybe that $60,000 salary the borrower reported was actually $52,000, and that drops down the loan amount that they'd be able to qualify for,” Sim explains. “Or maybe they want to qualify for a more expensive house, and that $60,000 isn't going to cut it, but they didn’t think to include overtime or bonus income in their reported annual salary.”

As an independent mortgage bank, Homestead Funding rarely holds loans, so it also needed a VOIE solution approved by government-sponsored enterprises (GSEs) and other investors to maximize secondary market salability and minimize repurchase risk.

Solution

When Sim connected with Argyle for a demo, she recognized that its direct-source approach could help Homestead Funding reduce costs while improving VOIE accuracy. Plus, Argyle already had seamless integrations with Homestead Funding’s existing loan origination system (LOS) and point-of-sale (POS) platform. 

“I saw Argyle as a solution that could really help our borrowers and our loan officers with obtaining documentation,” Sim says. 

Unlike static databases that rely on purchased consumer data, Argyle uses consumer-permissioned payroll connections. With coverage spanning 90% of the U.S. workforce and a frictionless, user-friendly verification process, Argyle consistently delivers industry-leading VOIE conversion rates of 55% or more.

Homestead Funding switched to Argyle in January 2024, initially leveraging Argyle through its integration with the Encompass^® LOS from ICE Mortgage Technology. The lender immediately began seeing savings, and once it shifted VOIE to the point of sale through Argyle’s integration with nCino Mortgage in March 2025, those savings soared. 

Sim says the team at Argyle was attentive to Homestead Funding’s needs from the beginning and receptive to feedback as Homestead Funding increasingly migrated away from The Work Number. The lender now uses Argyle for around 65% of its income and employment verifications.

“The support team is very on top of it,” says Sim. “They respond very quickly to identify and help us correct any verification issues, and they’re just very personable. It’s been a pleasure getting to know them over the past two years.”

Before Homestead Funding launched Argyle’s VOIE solution on the nCino application, Argyle’s team joined the company at its sales summit, meeting with its top loan officers who have a deep understanding of technology. 

“Our loan officers really like the capabilities of Argyle,” says Sim. “Argyle’s support team coached our loan officers through the integration and advised them on best practices to maximize the benefits. The technology, especially after moving it to the point of sale, has been transformative in our approach to lending.”

Outcome

Since switching to Argyle, Homestead Funding has:

• Cost savings of $15,000 a month

At the start, Homestead Funding saved anywhere from $2,000 to $6,000 a month by incorporating Argyle’s VOIE solution into its LOS. But since moving Argyle up to the prequalification stage, it’s now saving around $15,000 a month.

“When we first started with Argyle, we saw solid savings,” says Sim. “Once we turned on the nCino integration, those savings approximately tripled.”

• More accurate pre-qualification letters

Before Argyle, borrowers self-reported income during pre-qualification. Now that Homestead Funding has a direct-source data connection to employers and payroll providers, the sales team has the comprehensive income data it needs to make pinpoint accurate pre-qualification offers.

“With Argyle, we see borrowers’ income instantly and accurately, giving our sales team the clarity to guide more people to the right loan,” Sim says.

• Buyback protection from the start

By verifying VOIE directly at the point of sale, Homestead Funding starts with GSE-compliant verifications from day one, maximizing its opportunity for rep and warranty (R&W) relief. 

“Argyle lets us verify income right away, so we can move faster, stay accurate, and have every loan ready to go when it’s time to sell,” says Sim.

Homestead Funding’s partnership with Argyle has transformed its mortgage by delivering faster, more accurate verifications, stronger borrower insights and substantial cost savings. Because of Argyle, the lender’s team works more efficiently and serves borrowers with confidence.

Concludes Sim, “Argyle isn’t just a tool—it’s a trusted partner in driving lasting business success.”