Mortgage automation software firm Capsilon and financial data provider Finicity have announced a partnership to improve the digital mortgage experience.
Finicity’s real-team Verification of Assets solution has been integrated into the Capsilon platform, improving the speed, user experience, and economics of the mortgage process.
It means that Capsilon borrowers’ bank-validated insights will replace the search for bank statements while loan officers will have more time to originate new mortgages.
“We’re excited to work alongside Capsilon with the shared goal of transforming the difficult manual mortgage origination processes of today into a modern and digital experience of the future,” said Steve Smith, Finicity CEO. “Finicity’s VoA reports are a key part of the next-generation mortgage process.”
Both Finicity’s asset and income solutions are delivered under the CRA framework, which allows borrowers to directly obtain information on reports or submit disputes.
“The mortgage industry is undergoing radical transformation driven by technology. Those who invest in the right technology now will gain a competitive advantage to help them minimize risk and accelerate growth as the market changes,” said Jim Obsitnik, Chief Operating Officer of Capsilon. “We’re thrilled to partner with Finicity to help mortgage companies speed up the application process and deliver better borrower and loan officer experiences.”
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