Credit agencies in further push for digital mortgage process

by Steve Randall15 Oct 2018

Two of the largest consumer credit bureaus have announced partnerships to further streamline the digital mortgage process this week.

At the Mortgage Bankers Association's Annual Convention & Expo, Experian said it will integrate its consumer-verified data into digital mortgage products firm Tavant’s AI-powered VΞLOX platform.

"Traditional mortgage processes are cumbersome. We're constantly innovating to find new ways to improve the mortgage experience for everyone involved," said Michele Pearson, general manager, Experian Mortgage. "Through this integration with Tavant, we're leveraging the power of data to create the secure, efficient experience consumers are looking for while helping lenders make the right decisions, faster."

Tavant’s platform is used by mortgage lenders including airway Independent Mortgage, Ditech Financial, CMG Financial and Sierra Pacific Mortgage.

Equifax partners with Freddie Mac
Meanwhile, Equifax has announced that it is partnering with Freddie Mac to integrate its income verification tool The Work Number into the Freddie Mac Loan Advisor.

"We're thrilled to be working with Freddie Mac to reimagine and automate the mortgage experience and to ultimately provide the industry with insights to help drive more informed lending decisions," said Jennifer Henry, Vice President of Equifax Mortgage Services. "We now support the two most prominent GSEs which gives lenders the flexibility they require to deliver a superior digitally-empowered customer experience."

The Work Number was made available to a limited number of Freddie Mac clients last year but it intends to roll it out later this year.


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