Advanced technology is critical to the many custom solutions Informative Research provides. While many entities within the mortgage industry still utilize outdated legacy systems, Informative Research has opted to build more efficient, forward-thinking systems that speed up the loan process for lenders by incorporating more digitization and automation.
This supplies the much-needed flexibility and customization that the market’s been looking for in product development, especially when it comes to their unique verification bundle.
IR’s verification bundle can incorporate multiple products from its wide range of solutions and data partners, from an enhanced fraud solution to social verifications; basically, everything but the credit report and non-consumer charged fees.
“Informative Research’s verification bundle gives clients better security and accuracy in the disclosure amounts and it keeps more money in their pocket because it has a more affordable, straightforward credit report fee and helps them manage additional spend throughout the loan life cycle,” explained Patrick Kelly, executive vice president of national sales for Informative Research.
During the funding process IR also eases the logistical stress of correlated fees from multiple vendors with non-variable fees. Not only is this more cost-effective for the lending community, it also helps create a more streamlined process since it delivers just a single invoice for all solutions.
For Informative Research, understanding the competitive environment lenders operate in is key to developing future-proof solutions that assist in bringing a more qualified borrower into the loan process. One of these solutions is SoftQual – a more affordable mortgage scored, mortgage tradelined soft inquiry credit report that features either one or two FICO scores.
“By cutting costs by 30% to 40%, it’s an inexpensive alternative that accurately reviews a consumer’s ability to qualify for a mortgage loan based on their current credit profile. We’ve noticed that lenders utilizing this tool have seen a dramatic reduction in their credit spending, as well as lowered the number of nonqualified loans entering their system.”
IR also provides an enhanced lead generation solution utilizing predictive modeling and propensity scoring, allowing a lender to market to consumers who are actually in or about to enter the home mortgage arena. This solution is based on historic patterning and offers a score – not unlike a FICO score – that helps guide a lender to the right consumer.
“In essence, the top 20% of consumers scored have an 80% likelihood to pursue a mortgage. Especially as we shift into a purchasing market, this is huge for lenders looking to build a more effective marketing effort with better spend,” commented Tony D’Eccliss, executive vice president of regional sales.
Informative Research’s agile technology also comes with a robust compliance context. With their Merged Logic and dedication to customer protection, IR has taken definitive steps to being one of the only providers to achieve EI3PA and PCI certifications, as well as passing the SOC 2 audit.
“These certifications prove why the industry considers Informative Research as a company that does everything necessary to protect consumer data,” stressed Kelly. “Compliance is at the heart of our operating process and we are steadfast in our resolve to stay at the forefront of this effort.”
Patrick Kelly, Executive Vice President of National Sales
With over 45 years of experience in the mortgage industry, Patrick Kelly has played an important part in building Informative Research’s current sales team. Having been with the company for over three years, his expertise covers all aspects of the mortgage industry and process, from appraisal and operations to loan production and support.
Previously, Kelly worked as a vice president of sales for both First American and CoreLogic Credco.
Tony D’Eccliss, Executive Vice President of Regional Sales
For over 30 years, Tony D’Eccliss has been vital to growing and managing many of IR’s long-term, key accounts. Focused on developing customer and partner relationships, D’Eccliss supplies strategic guidance to the regional sales team with his leadership and business development skills. He first joined Informative Research as an account executive.