Customer: Advisors Mortgage Group

Advisors Mortgage Group is known for providing a seamless, stress-free mortgage experience, especially to first-time buyers and underserved borrowers. Licensed in more than 30 states, the company is the number-one purchase lender on the Jersey Shore and the top partner for the New Jersey Housing and Mortgage Finance Agency (NJHMFA), which assists first-time buyers with critical down-payment support.

“Our mission is to make homeownership accessible to as many Americans as possible,” said Wayne Steagall, Technology Director at Advisors Mortgage Group. “To deliver on that, we need to be fast, efficient, and borrower-friendly.” 

But the company was encumbered by a manual, costly verification process and needed a more streamlined way of doing business. That’s where Plaid came in.

A smarter, faster underwriting solution

Advisors Mortgage Group’s legacy verification process asked borrowers to download, print, or scan their bank and payroll statements—tasks that were often time-consuming and tedious. Loan officers and underwriters then spent countless hours chasing down documents or patching together incomplete files. This frequently added to operational inefficiencies and costs, as well as created some frustration for the borrowers.

Advisors turned to Plaid to create a faster underwriting experience that was more efficient and reliable. By integrating Plaid solutions, and more recently by piloting the Verification of Assets (VOA) Report by Plaid Check, Advisors is now able to offer borrowers the ability to securely log into their financial accounts and instantly share the data needed for underwriting without unwanted friction.

This streamlined process eliminated the uncertainty of manual uploads and removed reliance on expensive, legacy verification methods. Loan officers now receive complete, up-to-date information directly from financial institutions, while underwriters can rely on a single-source validation framework from Fannie Mae¹.

“The refresh capability has been a game changer,” said Steagall. “Instead of calling borrowers back multiple times, Plaid automatically updates the data. That saves our team countless hours and gives borrowers a smoother, more secure experience. Underwriters trust the data because it comes directly from the source.”

Streamlined workflows 

The transformation has been striking. More than 90% of loan officers and underwriters have voluntarily opted in to using Plaid in their day-to-day workflows. For them, the benefits are clear: the process is faster, easier, and produces higher-quality files that require fewer manual fixes.

“Adoption happened naturally,” Steagall explained. “Nearly all of our loan officers opted in on their own, because it just made sense—Plaid makes life easier for them, our underwriters, and our borrowers.”

Indeed, instead of being asked repeatedly for the same documents, borrowers can complete their application in one step, knowing that their information is secure. 

“The familiarity of Plaid’s platform puts borrowers at ease during one of the most sensitive financial moments of their lives—and makes a complex process simple and straightforward,” Steagall continued. “They appreciate not being constantly asked for follow-ups. It builds confidence and trust.”

Driving higher loan volume 

The gains are also measurable in hard numbers, with a 67% uptick in borrowers who choose to connect their accounts via Plaid for digital verification, compared to the legacy solution provider they used in the past. This enables Advisors to close loans in a matter of days, beating out larger competitors while serving more clients without additional staffing or costs.

At the same time, Advisors has been able to reduce reliance on third-party employment verification solutions, translating to projected annual savings of $200,000 to $250,000. Those savings go straight to the bottom line, freeing up resources to invest in growth and borrower programs.

Just as importantly, Plaid has strengthened internal relationships at Advisors. By standardizing loan files through Fannie Mae’s single-source validation, loan officers and underwriters are aligned on a common process. “It removes friction between the teams,” noted Steagall. “Underwriters can approve loans more quickly, and loan officers know their files are consistent. It’s a win-win.”

Scaling innovation with Plaid

Advisors isn’t stopping here. Following the successful pilot, the company is preparing to roll out the Verification of Assets (VOA) Report to all loan officers, a move expected to further reduce costs and accelerate approvals. Advisors is also working with Plaid on new data science features that will improve income analysis even further.

For Steagall, the partnership is about more than just technology. “Plaid isn’t just keeping up with the market, they’re leading it. That means we can stay ahead too, delivering the latest and greatest experience for both borrowers and our team.”