Floify and Plaid collaborate to offer automation of asset reports
Automation can be a way to make the mortgage process streamlined and more efficient, but that can’t happen without being very strategic about when, where and why that automation takes place.
Document collection is one of the areas that sees great benefit from automation, and integration simplifies the way mortgage professionals collect and verify borrower documents.
Mortgage point-of-sale solution Floify recently announced its collaboration with Plaid, a technology platform and data network powering many of the largest and fastest-growing applications and businesses in financial technology. The partnership enables lenders and loan originators to order and receive Plaid’s Asset Reports from the Floify point-of-sale solution, simply by having consumers connect their bank account through Plaid.
Once integrated with Floify, Plaid can be configured to automatically trigger a request for borrower asset reports upon the conversion of a prospect into a loan file, or manually trigger from an active loan file. After a Plaid request is initiated, borrowers are prompted to select their financial institution and enter their credentials via Plaid’s front-end module. Upon successful login, the borrower’s asset report is securely transmitted and synced to their corresponding loan file, which saves valuable time in the loan origination process.
“Floify is thrilled to partner with Plaid as we continue to use our automation technology to improve the mortgage process for loan originators and borrowers,” said Dave Sims, CEO of Floify. “Our integration with Plaid further simplifies and accelerates loan origination for mortgage professionals who combine the power of Floify point-of-sale system with Plaid’s Day 1 Certainty®-approved digital asset verification functionality.”
Floify simplifies the way lenders collect, verify and manage loan documents; track loan progress; and communicate with borrowers and other loan stakeholders. With Floify, mortgage professionals have reported saving hours in the loan origination process, while increasing the profitability of their lending operation and improving borrower satisfaction.
