Finicity's verification solution will power-up lender's origination process
American Financial Resources has announced a partnership with Finicity to provide a faster, simplified mortgage experience.
The partnership will enable AFR to provide its business partners and their borrowers with a faster, simpler and more secure way to verify assets and income while originating loans.
“We’re thrilled to partner with providers that simplify and accelerate the loan process for our business partners and the mortgage applicant.,” said Bill Packer, Executive VP and COO of AFR. “Finicity is at the forefront of the industry and its technology plays an important part in turning a time-intensive process into a simple, customer-friendly and therefore more satisfying experience for borrowers and their loan officers.”
New technology
Finicity’s verification platform facilitates borrower asset confirmation within minutes without paper documents.
It includes a new technology, the patent-pending TXVerify™ which extracts a borrower’s pay statement data from the paystub and then cross-verifies that key data with their income transactions from their financial institutions for a real-time picture of an applicant’s income and employment status.
“Today’s consumers expect simple, rapid experiences on their computers and phones, and the mortgage process should be no different,” said Steve Smith, CEO of Finicity. “AFR is embracing their role as a mortgage industry innovator, focused on meeting the expectations of the next gen consumer.”
