Finicity has announced that it is working with Princeton Mortgage to automate borrower asset verification for lenders. The agreement will provide Princeton Mortgage Loan Officers and borrowers with a faster, simpler loan origination experience that reduces both paper chase and headache.
Princeton Mortgage’s digital mortgage platform, SnapApp, will leverage Finicity’s Verification of Assets (VoA) solution to give lenders access to the data insights they need to streamline the loan application process, reduce mortgage fraud, free up resources and shorten time to close. Automation cuts the verification process from days to minutes as borrowers no longer need to search for bank statements, and lenders have more time to focus on high-value activities, such as approving more loans.
“We’re thrilled to work with Princeton Mortgage and provide its customers with an innovative, paper-free and hassle-free experience,” said Steve Smith, Finicity Chief Executive Officer. “As the leading financial data aggregator in the mortgage lending industry, we are always looking for partners who share our goal of transforming outdated loan origination processes into seamless digital experiences.”
Princeton Mortgage Sales Enablement Manager Nicole Gordon said, “Borrowers want an effortless mortgage experience, and with our new SnapApp they get just that. Through SnapApp’s automated digital mortgage process, borrowers can apply, verify their income and assets, pull their credit, run an automated approval and even receive a pre-approval letter in the middle of the night, at their convenience. We are excited to partner with Finicity to help make this digital mortgage process seamless and simple.”