BorrowerDocs vs PlanetVerify: Borrower portal vs. compliance platform
PlanetVerify is a document collection platform with ISO 27001 certification, built-in KYC and AML checks, GDPR compliance tooling, and liveness verification for ID documents. If you run a bank, a credit union, or a regulated lending institution that needs to prove to auditors that you handled borrower data in a specific way, that feature set makes a lot of sense.
If you are a solo mortgage broker in the United States trying to get a purchase client to send their paystubs and bank statements before the rate lock expires, that feature set is mostly things you will never use.
Quick comparison
| BorrowerDocs | PlanetVerify | |
|---|---|---|
| Built for | Solo residential mortgage brokers | Banks, credit unions, institutional lenders |
| Pricing | Free; Starter $19/mo; Pro $49/mo | From €49/mo; higher tiers not published |
| Free plan | Yes | Free trial only |
| Self-serve signup | Yes | Yes |
| Mortgage-specific checklists | Yes (W-2, self-employed, bank statement) | No mortgage templates included |
| Per-item status tracking | Yes (Requested, Partial, Uploaded, Approved, Needs Re-upload) | No |
| Re-upload requests with notes | Yes | No |
| UW packet export | Yes | No |
| KYC / AML checks | No | Yes |
| ID document + liveness verification | No | Yes |
| GDPR / CCPA compliance tooling | No | Yes |
| ISO 27001 certified | No | Yes |
| Audit trail for regulators | No | Yes |
| Currency | USD | EUR |
What PlanetVerify does
PlanetVerify collects documents from clients and verifies their identity in a compliant, auditable way. It was built for institutions that operate under heavy regulatory scrutiny, banks collecting KYC documentation, lenders with AML obligations, organizations that need to prove to a regulator that they handled personal data in a specific way and have the audit trail to back it up.
The platform is ISO 27001 certified and compliant with GDPR, CCPA, and WCAG. It can run liveness checks on identity documents, perform automated AML and KYC verification, and log every action in an audit trail. Plans start from €49 per month (roughly $53-55 USD depending on exchange rate), with a Business Pro tier and enterprise options above that.
PlanetVerify has a UK-specific mortgage offering, which reflects its European roots. It is used by mortgage brokers in the UK, where regulatory requirements around client data and identity verification are structured differently than in the US residential market.
What BorrowerDocs does
BorrowerDocs handles residential mortgage document collection for solo brokers in the US. You pick a loan type, the checklist pre-populates with the right items, and you send the borrower a magic link. No login required on their end. As documents come in, you track each item through five statuses: Requested, Partial, Uploaded, Needs Re-upload, and Approved.
When something needs to be corrected, you leave a note on that specific item and the borrower gets an email with exactly what to fix. When the file is ready, you export a packaged UW submission.
There are no KYC checks, no AML verification, no liveness detection, and no GDPR tooling. Those features exist to solve problems that a US residential mortgage broker does not have.
Feature-by-feature
Compliance tooling vs. mortgage workflow
PlanetVerify's compliance features are its differentiator. If you need to verify a borrower's identity via a liveness check before accepting documents, or if you need to demonstrate to a regulator that your data handling met a specific standard, those tools have real value.
US residential mortgage brokers work under GLBA, not GDPR. The security requirements are different, and the verification workflow is different. Identity happens through the 1003 application and credit pull, not through a liveness check in a document portal. Dropping that compliance overhead into a borrower's experience adds friction that does not serve anyone in a standard purchase or refi transaction.
Pricing and currency
PlanetVerify pricing starts in euros. That is not a dealbreaker, but it is a signal about who the product was built for. A platform that prices in euros and has a UK-specific mortgage page is oriented toward European financial services, not US residential brokers.
BorrowerDocs prices in USD, starts free, and moves to $19 per month for up to 10 active files. The jump from free to paid is sized for a solo broker who closes a handful of loans per month.
Mortgage-specific checklists
PlanetVerify does not include mortgage-specific document templates. You would need to build your own checklists for W-2 borrowers, self-employed borrowers, investment property deals, and every other loan type you work.
BorrowerDocs ships with pre-built templates for W-2, self-employed, and bank statement loan types. You can start a file and have the right checklist ready without building anything from scratch.
Per-item status tracking
One of the most important workflows in mortgage document collection is the re-upload cycle. A borrower sends a bank statement with pages missing. You need to tell them which item is wrong, why, and what to send instead. Then you need to track that it came back correctly.
BorrowerDocs tracks each item individually through five statuses and lets you leave a note on any item flagged for re-upload. The borrower gets an email that links directly to that item.
PlanetVerify does not have this model. It is not designed for the iterative back-and-forth of residential mortgage processing.
Who should use PlanetVerify
PlanetVerify makes sense if:
- You work at a bank, credit union, or institutional lender with KYC or AML obligations
- You need an ISO 27001 certified platform with a full audit trail
- You operate in the UK or EU mortgage market where GDPR compliance is a regulatory requirement
- You need built-in identity verification and liveness checks as part of your document intake process
Who should use BorrowerDocs
BorrowerDocs makes sense if:
- You are a solo mortgage broker originating residential loans in the US
- You want pre-built checklists for W-2, self-employed, and bank statement borrowers
- You need per-item status tracking and re-upload requests with notes
- You want to start free and pay $19-49 per month, not navigate euro-denominated pricing tiers
- You need a UW packet export when the file is complete
The verdict
PlanetVerify solves a real problem for regulated institutions that need compliance-grade document collection and identity verification. For that use case, it is a reasonable tool.
For a solo US residential mortgage broker, it is solving the wrong problem. The compliance overhead adds cost and complexity to a workflow that needs to be fast and simple for borrowers who are already stressed about closing on time.
BorrowerDocs is purpose-built for that workflow, at a price that makes sense for an independent broker.
Try BorrowerDocs free. No credit card required.
Ready to get started?
Try using BorrowerDocs to send a borrower portal, collect secure uploads, and track document status in one place.
Start for Free