Integration between leading mortgage technology providers will help lenders eliminate lengthy, frustrating paper chase to verify borrowers’ assets
SALT LAKE CITY, Utah – May 30, 2018 – Finicity, a leading provider of real-time financial data aggregation and insights, announced it has signed an integration agreement with Blue Sage Solutions, an innovative, cloud-based digital mortgage lending platform. Under terms of the agreement, Blue Sage will integrate Finicity’s Verification of Assets (VoA) solution into its multi-channel digital lending platform to accelerate the credit decisioning process for mortgage lenders.
Finicity’s credit decisioning solutions allow lenders to free up resources, improve accuracy and reduce mortgage fraud, all while giving borrowers a paperless and hassle-free experience. By partnering, Blue Sage and Finicity can provide mortgage lenders with validated insights of a borrower’s assets in seconds.
“Our goal is to find top-notch partners who are also committed to creating a frictionless experience for lenders and borrowers through a digitized process,” said Steve Smith, Finicity CEO. “We’re excited to work with Blue Sage to accelerate the process of verifying a borrower’s assets, which has traditionally been a painful paper chase that takes several days or longer.”
Blue Sage’s digital lending platform allows mortgage lenders and borrowers to collaborate together in real-time to communicate, exchange required information and track progress. Since Blue Sage operates as a cloud-based platform, both parties can access VoA reports at virtually any time during the process.
“We look forward to working with Finicity as an asset verification provider,” said Joe Langner, CEO of Blue Sage. “The company’s credit solutions align well with our mission to empower mortgage lenders with best-in-class, consumer-centric tools to achieve an excellent origination performance—every time.”
Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae Desktop Underwriter® (DU®). This gives lenders a certified asset report through Fannie Mae’s Day 1 Certainty™ initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.
Finicity is also an authorized Freddie Mac asset validation report provider, and Freddie Mac and Finicity are working together on new methods to validate income from payroll deposit data from bank statements.
Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning in mortgage lending, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner. To stay up to date on all Finicity company and product announcements, visit www.finicity.com.
About Blue Sage:
Blue Sage is an innovative, cloud-based digital lending platform for retail, wholesale and correspondent lenders that provides a superior lending experience for every borrower. The company’s technology is 100% browser-based and provides end-to-end functionality for the entire lending and fulfillment process, regardless of channel. All Blue Sage solutions include mobile applications and are delivered through a secure, fully managed cloud service. The company’s technology was developed over the past four years by the founders of Palisades Technology Partners, developers of Impact, the first end-to-end web-based loan platform which was used by five of the 10 largest U.S. originators. Blue Sage Solutions is headquartered in Englewood Cliffs, New Jersey. For more information about Blue Sage’s products and services, visit www.bluesageusa.com.