Mortgage, Open Banking
Smarter mortgage origination in 3 steps with Finicity Mortgage Verification Service
Finicity’s Mortgage Verification Service is the one-touch, GSE-accepted digital verification of assets, income, and employment that shortens the time it takes to originate a mortgage.
According to ICE Mortgage Technology, as of June 2021, the average loan closes in 49 days. Verifying assets, income, and employment digitally can save up to 20 days on that time, helping lenders close loans in less than a month.
What makes MVS unique, and how does it help lenders? Download our MVS infographic to learn more.
MVS uses data from bank account, payroll provider, and pay stub, three separate data sources, to provide the most accurate verification as well as the broadest coverage and highest success rate of income and employment verification solutions.
MVS is a single-vendor solution approved by both Fannie Mae and Freddie Mac for use in verification, one of only two such solutions on the market.
MVS provides a one-touch experience for borrowers for verification in only one session, so they don’t have to hassle with a second time. Once the verification is permissioned, it’s also available to be refreshed if the lender needs to update the information without bothering the borrower.
If you’re ready to explore how to incorporate MVS into your asset, income and employment verification for mortgage lending, sign up for a demo today.