DataVerify® Announces Integration with Rocket Companies’ Nexsys Technologies®

12
DataVerify® Announces Integration with Rocket Companies’ Nexsys Technologies®-01

DataVerify®, a leading provider of data verification, risk mitigation and workflow automation services, today announced an integration with Rocket Companies’ (NYSE: RKT) Nexsys Technologies®. DataVerify will directly connect with Nexsys Clear HOIsm, a tool from Nexsys Technologies that automates the verification of homeowners insurance (HOI) for mortgage lenders.

“This integration greatly expands what we can offer to our customers,” said DataVerify President Brad Bogel. “Automating what have traditionally been manual steps in the lending process is our mission at DataVerify and this integration does just that. It will help our customers increase efficiency and reduce the overall timetable of the lending process.”

In early December of 2020, Nexsys Technologies announced that it made its Clear HOI product – an important component of Rocket Companies’ industry leading FinTech platform – available to all lenders nationwide. Before the release of the breakthrough technology, lenders were forced to contact each insurance company individually to request insurance verification data. This process was cumbersome and could delay loan processing by several days.

Also Read: How CIOs and CISOs Should Share Cybersecurity Responsibility

Nexsys Technologies has already added three of the top five homeowners insurance providers to the platform. The integration with DataVerify allows lenders to instantaneously access information directly from a single data source.

“We have had great response to Clear HOI since it was introduced, and we believe lenders will find even more reasons to leverage it with the DataVerify integration,” said Mike Lyon, Executive Vice President of Nexsys Technologies. “This is a critical tool that significantly modernizes and simplifies the mortgage experience.”

Clear HOI can be integrated into a lender’s loan origination system through an application programming interface (API) or lenders can use Nexsys Technologies’ online portal. The company spent more than a year perfecting and growing the Clear HOI platform. The tool is now available for any lender looking to streamline and simplify the HOI verification process.

For more such updates follow us on Google News ITsecuritywire News.