Cloudvirga Announces Expanded Integration with Informative Research's Verification Platform
Cloudvirga Announces Expanded Integration with Informative Research's Verification Platform
PR Newswire
IRVINE, Calif., March 12, 2024
IRVINE, Calif., March 12, 2024 /PRNewswire/ -- Cloudvirga, a leading provider of digital mortgage point-of-sale platforms, announced today that it has expanded its integration with Informative Research, a leading technology platform that delivers data-driven solutions to the lending community. Through the expanded integration, originators on Cloudvirga's Horizon Platform and Horizon TPO can now access Informative Research's Verification of Employment (VOE) and Verification of Income (VOI) data and analytics.
Verifying employment and income is frequently a stumbling block for lenders since not all electronic verification providers have access to the consumer data needed for a comprehensive VOE/VOI report. As a result, working with multiple providers can be useful but only if there is an automated and efficient process to do so. The Informative Research integration allows originators to create multiple configurable waterfalls with an unlimited number of VOE/VOI providers defined per waterfall within the Horizon Platform. If one provider is unable to provide a comprehensive verification report due to lack of data, it falls to the next provider on the list. This provides an efficient, cascading process that continues until the requisite information is delivered.
By creating a waterfall of providers, originators can ensure they're receiving the most accurate and complete VOE/VOI package. Originators will receive an in-depth transaction report of which providers were able to fulfill their requests and the full VOE/VOI results can be delivered to the originator within seconds. The data within this package is then automatically pre-populated in the loan file and can be delivered to underwriting, significantly streamlining the application process. This eliminates the need to request employment and income documentation from borrowers thereby saving time, reducing costs, and improving the overall experience for both the borrower and the originator.
"Verification of employment and income can be a time-consuming and often complex step in the origination process. Originators often have to wait for borrowers to collect documents and submit pay stubs, W2s, etc., or rely on providers that often have a lower hit rate because they don't have access to all the necessary data," said Maria Moskver, CEO of Cloudvirga. "Our new integration with Informative Research's Verification Platform means that originators can ensure they're getting the most complete and accurate data on a borrower's employment and income in seconds, further accelerating their underwriting processes."
About Informative Research
Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves over 3,000 mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with their straightforward service model, progressive solutions, and cutting-edge technology. To learn more visit https://www.informativeresearch.com
About Cloudvirga
Cloudvirga is a leading provider of digital mortgage point-of-sale platforms. With a focus on streamlining the loan origination process, Cloudvirga solutions are designed to enhance efficiency and accuracy in the mortgage industry. The company's commitment to continuous improvement and innovation has positioned it as a trusted partner for mortgage lenders and brokers across the nation. Cloudvirga is a subsidiary of Stewart Information Services Corporation (NYSE:STC), a customer-focused, global title insurance and real estate services company. For more information, visit www.cloudvirga.com
View original content:https://www.prnewswire.com/news-releases/cloudvirga-announces-expanded-integration-with-informative-researchs-verification-platform-302086431.html
SOURCE Cloudvirga
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
After Earnings, Is Tesla Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is GE Aerospace Stock a Buy, a Sell, or Fairly Valued?
-
3 Good Stocks to Buy with Your Tax Refund in 2024 (Or with Any Extra Money)
-
SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs
-
Tesla: Full Self-Driving Approval In China Supports Our View for Deliveries Growth In 2024
-
Philips Earnings: Firm Reaches $1.1 Billion Settlement Agreement
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track