Fintech Rundown: Floify, Ellie Mae, Tavant Technologies and more

This week's moves in mortgage technology

This week's Fintech Rundown covers a couple integrations and a new product update in mortgage technology.

Mortgage point-of-sale system provider Floify announced today that its end-to-end loan platform is now available for use with Ellie Mae's Encompass digital mortgage solution.

Floify explained that this two-way integration allows lenders to access Encompass directly through Floify to boost quality and efficiency in the loan origination process.

“Floify is delighted to partner with Ellie Mae,” said Dave Sims, CEO of Floify. “Our secure, seamless integration with Encompass enables our clients to simplify the process of using their favorite LOS with Floify, so they can more efficiently process mortgage loans and grow their business. We look forward to a long, successful relationship with Ellie Mae.”

Digital solutions provider Tavant Technologies announced it has expanded its VELOX platform to work with a lender’s home equity line of business.

“Borrowers are increasingly tapping into home equity, and the number of consumers taking out HELOCs or home equity installment loans is significantly rising. It reaffirms our mission to expand VELOX to include this rapidly growing market by combining our industry expertise with deep technical capabilities,” said Hassan Rashid, CRO of Tavant.

VELOX is an AI-powered, data-driven digital lending platform that streamlines business processes with intelligent automation, improved fulfilment efficiency, and overall digital simplification.

LoanLogics announced a new update to its LoanHD Loan Quality Management platform to simplify running automated checks for data validation prior to loan delivery through Fannie Mae’s EarlyCheck application on loans sold to Fannie.

LoanLogics is an approved Fannie Mae technology vendor. The company explained it has created an interface with the GSE’s EarlyCheck application that enables lenders to run EarlyCheck during the audit process to ensure loan data accuracy.

“Our EarlyCheck integration allows our clients to ensure every loan file has the right data points in the right place before delivery to Fannie Mae,” said Don Smith, LoanHD product manager. “Only by automating quality control checks can lenders improve loan quality, ensure data accuracy, and reduce the amount of time and money spent in the process.”

Valligent Technologies recently announced it completed integration with Veros Real Estate Solutions.

The companies’ partnership began in March 2018 to provide a complete solution in collateral valuation and analytics that will enable mortgage lenders to cut costs and increase operational efficiency.

With the integration, lenders on Veros’ VeroSELECT platform now have direct access to Valligent’s innovative Evaluations, property inspections and alternative appraisals.

“The lending environment is very competitive, and margins are razor thin,” said Jeremy McCarty, Valligent CEO and chief valuation strategist. “Fully integrated solutions such as this enable the efficiencies that are fast becoming the future of residential mortgage.”

VeroSELECT provides Valligent with access to AVM application VeroPRECISION, which informs the user if the subject property is a viable property for an AVM valuation. In cases when an AVM is not appropriate for the subject property, Valligent will seamlessly provide one of its Evaluation products, providing a complete home equity lending valuation solution, Veros explained in a statement.

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