New features give loan officers more time to engage with their buyers
Pulte Mortgage has entered a partnership with financial data provider Finicity to streamline home financing process.
Finicity’s verification platform assesses up to 24 months of bank, brokerage, and 401k data to confirm assets within minutes, removing the need for borrowers to find, copy, and scan heaps of paper verifications. This could shorten the mortgage origination time by over a week, Pulte Mortgage said.
“The mortgage lending industry has changed dramatically over the decades, but never more so than over the past 10 years,” said Debra Still, president and CEO of Pulte Mortgage. “The average loan file used to be about 300 pages, but today’s regulatory and compliance demands have pushed this figure to more than 800 pages. The need for ever-increasing volumes of supporting data puts an incredible burden on the borrower, which is why we strategically invest in integrated technology solutions, like Finicity, to reduce the time and complexity associated with securing a mortgage.”
Along with the instant verification feature, Pulte Mortgage customers can also upload a photo of important documentation from their mobile device, as well as e-sign regulatory disclosures and use a customized digital dashboard to stay updated on their loan’s progress.
“Today’s consumers have come to expect simple and rapid experiences enabled by digitization,” said Finicity CEO Steve Smith. “Pulte is an innovator that is embracing digital solutions to further deliver a superior borrower experience by giving their loan consultants more time to engage with their buyers.”
“Whether it’s your first house or your last, building a new home is an exciting process. It is a time where you get to create a space that is uniquely personalized for your lifestyle and taste. That is why we are continuously working to simplify home financing for our customers, so they can spend more time focusing on building their dream home,” Still said.
