has announced the availability of DataVerify’s DRIVE
verification platform within ReverseVision’s flagship RV Exchange (RVX) loan origination system (LOS). DRIVE helps lenders improve efficiency and reduce repurchase risk by monitoring changes to borrower identity, loan application, and property data throughout the origination process.
“ReverseVision is committed to equipping our lender customers with top-of-the-line tools for optimizing loan quality and efficiency,” said ReverseVision Vice President of Sales and Marketing Wendy Peel. “DataVerify is one of the mortgage industry’s most trusted providers of data verification services, and we are proud to make its DRIVE system available to HECM lenders through RVX.”
DRIVE, available to customers of RVX as of December 2017, streamlines the loan review process by combining multiple data integrity, fraud and compliance risk evaluations in one state-of-the-art system. The DRIVE report can include more than a dozen services, including Social Security number and 4506-T tax return verifications. DataVerify’s proprietary DRIVE Score summarizes the level of risk associated with the loan, and results can be refreshed throughout the origination process for real-time monitoring of material loan data changes.
“At DataVerify, we believe in the power of sound, reliable risk mitigation for lenders in all facets of the mortgage industry,” said Brad Bogel, Senior Vice President of DataVerify. “By partnering with ReverseVision, we can provide easy to understand borrower and loan data to the reverse mortgage industry through their dynamic origination platform.”