WASHINGTON, Oct. 15, 2018 /PRNewswire/ -- At the
Mortgage Bankers Association's Annual Convention & Expo today,
Experian®, the world's leading information services
company, and Tavant, a leading digital mortgage products and
platforms company, announced an integration to digitize the loan
origination process and create a streamlined experience for
consumers and lenders.
Now, consumer-verified data from Experian will be integrated
into Tavant's VΞLOX platform, enabling a more streamlined
environment to help consumers satisfy mortgage originators'
information needs quickly and securely.
According to findings published by the Federal Housing Finance
Agency, 18 percent of home loan applicants were forced to redo
their paperwork in 2016, and nearly 24 percent ultimately had their
closing dates postponed. The new integration with Tavant eliminates
the need for consumers to enter and re-enter information manually,
saving time and reducing the potential for error.
"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 VΞLOX is the industry's leading AI-powered digital
lending platform that maximizes the use of data-driven processes in
the automation of the loan origination life cycle. Its components
include FinConnect, a mortgage data and services hub that connects
the internal and external systems of the mortgage network, and
FinXperience, a unified immersive experience platform for
borrowers, loan officers, wholesale brokers and correspondent
sellers.
"As more tech-savvy millennials and younger generations pursue a
mortgage, we believe lenders will find themselves falling behind if
they're not creating a user-friendly and digital experience for
borrowers," said Hassan Rashid,
chief revenue officer at Tavant. "Through this collaboration with
Experian, we are creating a simple, touchless and transparent
experience for future homeowners and mortgage lenders."
Several leading national lenders, such as Fairway Independent
Mortgage, Ditech Financial, CMG Financial and Sierra Pacific
Mortgage, are using Tavant VΞLOX to enable digital mortgage
transactions.
To learn more about Experian's mortgage business, visit Experian
at Booth #339 and Tavant at Booth #243 at the Mortgage Bankers
Association's Annual Conference & Expo or visit
www.experian.com/mortgage.
About Tavant Technologies
Headquartered in
Santa Clara, Calif., Tavant
Technologies is a digital products and platforms company that
provides impactful results to its customers across North America, Europe and Asia-Pacific. Founded in 2000, the company
employs more than 2,500 people and is a recognized top employer.
Tavant is creating an AI-powered intelligent lending enterprise by
reimagining customer experiences, driving operational efficiencies
and improving collaboration. Find Tavant Technologies on LinkedIn
and Twitter.
About Experian
Experian is the world's leading global
information services company. During life's big moments — from
buying a home or a car, to sending a child to college, to growing a
business by connecting with new customers — we empower consumers
and our clients to manage their data with confidence. We help
individuals to take financial control and access financial
services, businesses to make smarter decisions and thrive, lenders
to lend more responsibly, and organizations to prevent identity
fraud and crime.
We have 16,500 people operating across 39 countries and every
day we're investing in new technologies, talented people and
innovation to help all our clients maximize every opportunity. We
are listed on the London Stock Exchange (EXPN) and are a
constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global content
hub at our global news blog for the latest news and insights from
the Group.
Experian and the Experian marks used herein are trademarks or
registered trademarks of Experian Information Solutions, Inc.
Other product and company names mentioned herein are the
property of their respective owners.
Contact:
Amanda
Irving
Experian Public Relations
1 714
830 7923
amanda.irving@experian.com
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SOURCE Experian