RELEASE: Floify Joins with Plaid to Automate the Collection of Mortgage Borrower Asset Reports
Integration simplifies the way mortgage professionals collect and verify borrower documents
BOULDER, COLO – March 08, 2019 – Floify, an innovative mortgage point-of-sale solution, announced today it has joined forces with Plaid, the technology platform and data network powering many of the largest and fastest-growing applications and businesses in financial technology. The partnership enables lenders and loan originators to order and receive Plaid’s Asset Reports from the Floify point-of-sale solution, simply by having consumers connect their bank account through Plaid.
Once integrated with Floify, Plaid can be configured to automatically trigger a request for borrower asset reports upon the conversion of a prospect into a loan file, or manually trigger from an active loan file. After a Plaid request is initiated, borrowers are prompted to select their financial institution and enter their credentials via Plaid’s front-end module. Upon successful login, the borrower’s asset report is securely transmitted and synced to their corresponding loan file, which saves valuable time in the loan origination process.
“Floify is thrilled to partner with Plaid as we continue to use our automation technology to improve the mortgage process for loan originators and borrowers,” said Dave Sims, CEO of Floify. “Our integration with Plaid further simplifies and accelerates loan origination for mortgage professionals who combine the power of Floify point-of-sale system with Plaid’s digital asset verification functionality.” Plaid is an Authorized Report Supplier of eligible verification reports for Fannie Mae’s Desktop Underwriter® (DU®) validation service.
Floify simplifies the way lenders collect, verify and manage loan documents; track loan progress; and communicate with borrowers and other loan stakeholders. With Floify, mortgage professionals have reported saving hours in the loan origination process, while increasing the profitability of their lending operation and improving borrower satisfaction
About Floify: Floify is a digital mortgage automation and point-of-sale solution that streamlines the loan origination process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Lenders use Floify to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. Floify is based in Boulder, Colorado. For more information, visit the company’s website at floify.com or on social media at Facebook, LinkedIn, or Twitter.
About Plaid: Plaid is the technology platform and data network providing the tools and access needed for the development of a digitally-enabled financial system. Plaid makes it easier and safer for developers-from the smallest startups to the largest financial institutions-to build innovative financial services and applications. Plaid’s infrastructure makes it possible for companies like Robinhood, Acorns, Betterment, Coinbase, Venmo and hundreds more to serve their customers, regardless of where they bank, allowing them more insight and control into their spending, investing, budgeting and their overall financial well-being. Today, one in four Americans with a US bank account use Plaid.
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