FinLocker says it will cover 100% of mortgage verification costs
FinLocker details that the initiative will eliminate verification costs at all stages of the mortgage journey, from prequalification and underwriting to final reverification before closing.
FinLocker said that its announcement is the first step in the company’s mission to make homeownership more accessible “by removing unnecessary friction and costs from the mortgage process.” FinLocker indicated that future initiatives will target other high-cost areas like title expenses.
“After 28 years in mortgage technology, I’ve been committed to one goal: helping more
Americans achieve homeownership,” FinLocker CEO Henry Cason said in a statement. “The current verification system creates unnecessary friction and passes significant costs to consumers.
“By covering these expenses, we’re creating a rising tide that lifts all boats — consumers get more affordable mortgages, lenders reduce expenses and close loans faster, and our industry takes another step toward truly digital mortgages. This is about fundamentally transforming how the mortgage ecosystem works together.”
The company said its initiative addresses pain points for all parties in the mortgage process. For example, lenders will have lower origination costs and faster loan decision-making through direct-sourced data, while borrowers will benefit through reduced closing costs.
FinLocker also explained that it aims to offer a “competitive edge in a challenging market with a tangible cost” for loan officers.
FinLocker’s technology lets borrowers securely link financial accounts from 18,000-plus institutions and share verified income and employment data with lenders. This direct-source verification covers 85% of the U.S. workforce, including often-overlooked gig workers.
“FinLocker’s no-cost verification is a game-changer for our business,” said Steve Majerus, CEO
at Synergy One Lending. “Not only does it help us reduce origination costs and pass real
savings to borrowers, but it also strengthens the value of our S1 FinFit platform.
“By embedding this technology, we’re making our homebuyer funnel even stickier — keeping borrowers engaged from financial preparation to closing. This is exactly the kind of innovation the mortgage industry needs right now.”
Edge Home Finance launched its Edge Loan Advisor platform in January 2025 that is powered by FinLocker. Since the launch, more than 125 Edge loan officers have adopted the platform, collectively adding 450 Realtor partners and onboarding more than 850 consumers.
“The partnership between Edge Home Finance and FinLocker has been a tremendous success
for our loan officers and the consumers they serve,” said Tom Ahles, chief growth officer at
Edge Home Finance. “By equipping loan officers with technology that helps borrowers understand their financial position, improve mortgage readiness, and take actionable steps toward homeownership, we’re strengthening relationships and building long-term trust with consumers.”
“We’re especially excited about the new features on the roadmap, including enhanced capabilities to boost first-time homebuyers’ mortgage readiness confidence by leveraging direct-source, permissioned data like assets and income,” Ahles added. “These innovations will continue to set Edge apart as a leader in the independent mortgage space and reinforce our commitment to helping consumers navigate the homeownership process with clarity and confidence.”
