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Mortgage Cadence Integrates with DataVerify

Mortgage Cadence’s new integration with DataVerify, announced this week, will enable the Denver, Colorado-based mortgage tech company to enhance its loan origination system, boost data verification and fraud prevention, and provide compliance assistance.

The combination of DataVerify’s functionality and Mortgage Cadence’s Enterprise Lending Center (ELC) will improve the customer experience by streamlining authentication and automating the data verification process for borrowers. Lenders benefit, as well. The integration will enable them to avoid the cumbersome process of extracting data from institutions like the IRS, and instead request and access the necessary information without leaving the ELC platform.

“Optimized workflows and increased automation are essential to reducing time and cost to close,” EVP and MD of Product Management at Mortgage Cadence Paul Wetzel said. “This latest integration between our Enterprise Lending Center and Data Verify is yet another example of how we help lenders improve operating performance.”

DataVerify leverages advanced analytics to provide risk mitigation, data validation, and workflow management solutions for the mortgage industry. The company’s platform helps lenders make better decisions by recognizing data integrity errors and misrepresentations, as well as identity theft, and property and application risk. DataVerify was named to the 2018 Ellie Mae Hall of Fame after winning the Lenders’ Choice for Best Service Provider award that year. The Chesterfield, Missouri-based company was founded in 1948.

“(O)ur mission is to deliver flexible solutions tailored to meet the ever-changing needs of our customers,” DataVerify president Brad Bogel said. “Our integration with Mortgage Cadence furthers this mission by providing convenient access to secure verification processes that address industry compliance regulations all within the lender’s origination platform, Enterprise Lending Center.”

Founded in 1999, Mortgage Cadence demonstrated its Collaboration Center at FinovateFall 2017. The solution offers financial institutions a secure, multi-channel communication portal that brings all the participants, workflow, and data for a loan into a single location for greater efficiency and security.

Last month, Bank of the West announced that it had teamed up with Mortgage Cadence to improve its loan origination operations. The bank also deployed Mortgage Cadence’s Borrower Center to enhance the experience for both borrowers and loan officers. Named to the 2019 HousingWire Tech 100 this spring, Mortgage Cadence includes partnerships with Radian Mortgage Insurance and MGIC among its more recent integrations, both of which enabled the companies to streamline the mortgage insurance process during loan origination.

A wholly-owned subsidiary of Accenture, Mortgage Cadence has processed more than 17 million loans from point-of-sale through post-closing. Trevor Gauthier is President and COO.