Digital verification report speeds up lending process while improving digital experience for lenders and borrowers

SALT LAKE CITY, Utah – Dec. 4, 2019 – Finicity, a provider of real-time financial data access and insights, and Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, today announced that Finicity’s digital Verification of Assets (VoA) solution is now available through Ellie Mae’s Encompass® Consumer Connect, part of the Encompass® Digital Lending Platform. 

Today’s consumers expect an increasingly simple, fast and accurate application process. This has been made possible by digital solutions such as Finicity’s Verification of Assets which can shorten the application process by as many as 6 days. Now borrowers can access this solution through Encompass Consumer Connect matching an automated, enhanced customer experience with the efficiency of digital verification.

“We believe that consumer expectations are driving the mortgage lending experience to one that is simple and intuitive,” said Steve Smith, CEO and co-founder of Finicity. “We’re excited to partner with Ellie Mae through the Encompass Consumer Connect platform to deliver a next gen experience to borrowers while helping lenders create a more efficient origination process.”

Tedious applications and piles of paperwork detracts from the excitement of buying a first home. Integrating the Finicity solution into Consumer Connect streamlines the application and origination process for borrowers and helps lenders be more efficient and engaging while closing loans faster.

In addition to the availability of digital verification functionality in Consumer Connect, the companies have enabled data mapping for required fields into the 1003 application and loan officer notifications, as well as other enhancements, in Encompass.

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter® (DU®), giving lenders a validated asset report through Fannie Mae’s Day 1 Certainty™ initiative, and the company is part of Fannie’s Single Source Validation (SSV) pilot. Finicity is also an authorized Freddie Mac Asset and Income Modeler (AIM) validation report provider within Freddie Mac’s Loan Product Advisor.

Finicity VOA reports in Encompass and Consumer Connect are available from our resellers including through our Experian partnership and their CRA resellers. To stay up to date on all Finicity company and product announcements, visit the website at www.finicity.com.

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 About Finicity:

Finicity’s mission is to help individuals, families and organizations make smarter financial decisions through safe and secure access to fast, high-quality data. The company, which launched its first financial product in 2000 and has since grown to provide financial data APIs, credit decisioning tools and financial wellness solutions, partners with influential financial institutions and disruptive FinTech providers alike to give consumers a leg up in a complicated financial world. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018, 2019 HousingWire Tech100 winner. To learn more or test drive its API, visit www.finicity.com.