Finicity is simplifying the mortgage process for borrowers and lenders. Through digital verification solutions, Finicity allows lenders to gain insights quicker, make more accurate decisions and improve customer experiences. Finicity is an approved report provider for Fannie Mae’s Day 1 Certainty and Freddie Mac’s Automated Income and Asset validation programs. Finicity’s new Verification of Income and Employment solution erases the pain points of what has been, until now, a labor intensive process.
- While the success rate for existing automated solutions hovers around 15% to 25%, Finicity’s VOIE solution is anticipated to provide successful income and employment verification coverage of over 70%.
- Digital verifications can shave as much as 12 to 14 days off the origination process, helping to push the industry to a rapid closing with increased accuracy, while improving profitability.
- Finicity’s Verification of Income and Employment solution triples the success rate of current automated verification products and introduces digital technologies to the origination process.