Cove gives brokers and real estate professionals branded applicant checks
Cove's software gives the business that already knows an applicant a way to collect identity, bank, income and credit information in one branded report. The approach is aimed at mortgage brokers, lenders and real estate professionals who need that information to assess a borrower or tenant. Rather than sending the relationship away to a separate screening service, a business can offer the checks under its own name.
A report with the customer's name on it
Cove describes a single link through which an applicant verifies their identity, connects a bank account and authorizes a credit pull. It says the information is assembled into a report bearing the business customer's name.
Customers can set plain-language rules to approve, decline or route an application for manual review. That gives a broker or lender a way to combine the information-gathering step with its own decision process, instead of building the components separately.
Cove's terms place responsibility for required applicant consents and compliant decision rules on its business customers. The terms also say Cove is not the lender or underwriter of record unless explicitly stated.
Selling the infrastructure
Cove's platform is intended for businesses, with applicants interacting through a business customer's workflow. Its terms say fees are agreed in an order form or on a pricing page, with usage-based components billed monthly in arrears. That structure describes how Cove offers to charge for its platform; it does not disclose what the company has earned.