TheMReport

8 | TH E M R EP O RT MTECH "As the consumer's bureau, our goal is to help empower consum- ers and to give better access to credit for more consumers, all while promoting fair lending," said Alex Lintner, President, Consumer Information Services, Experian. "Through this project, we've found a new way to use consumer-per- missioned data that allows lenders to make better decisions and helps consumers gain access to credit." "This approach allows Americans to benefit from positive financial behaviors," said Steve Smith, CEO, Finicity. "We are proud to have created a new way for consumers to share financial information safely and securely so that a new UltraFICO Score can be created." A Simpler Approach EQUIFAX AND YODLEE VERIFICATION PRODUCTS ACCELERATE THE DIGITAL MORTGAGE PROCESS. E quifax Inc., an Atlanta- based global information- solutions company, an- nounced that it is working with Yodlee, a financial data aggrega- tion and data analytics platform, to help simplify the mortgage loan process by making it easier for lenders to derive insights from borrowers' financial data. This collaboration provides Equifax with access to real-time asset and income information on prospective customers who have granted permission and helps streamline loan production, reduce fraud exposure in the application process, and give banks, loan origi- nators, and lenders additional tools to assess risks in underwriting and portfolio management. "Changing buyer behaviors, as well as advanced data and in- sights, are transforming the lend- ing industry," said Craig Crabtree, SVP and General Manager, Equifax Mortgage Services. "Complementing the robust suite of data and analytics that Equifax offers, this collaboration with Yodlee advances the mortgage process to ensure that prospecting, qualifying, and verifying processes keep pace with evolving customer needs and become more inclusive for creditworthy borrowers." Equifax manages the nation's largest centralized repository of income and employment verifi- cations powered by The Work Number, a proprietary data asset containing more than 350 million payroll records. Through the col- laboration with Yodlee, Equifax is enhancing its already-robust verifi- cation offering. The addition of as- set data will help Equifax provide the industry with a fully rounded solution for verifying borrower in- come, assets, and employment, all delivered in a seamless electronic document and API flow. "By utilizing our data intel- ligence, based on comprehensive consumer and small-business financial data available across banking, credit and wealth management, this collaboration can quickly move the mortgage lending industry to the next level of actionable, paperless processes," said Brandon Rembe, SVP, Products, Yodlee. "While this col- laboration begins in mortgage, we believe it will eventually benefit the entire lending ecosystem." Equifax is a global information solutions company that uses trusted unique data, innovative analytics, technology, and industry expertise to power organizations and indi- viduals around the world by trans- forming knowledge into insights that help make more informed business and personal decisions. Empowering Mortgage Professionals DEEPHAVEN NON-QM MORTGAGE PRODUCTS NOW AVAILABLE THROUGH CALYX POINT. C alyx Software, a California- headquartered provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale, and correspondent lenders and brokers, announced that all Calyx Point users can now access Deephaven's non-QM mortgage products, enabling them to serve more borrowers and capi- talize on the growing opportuni- ties for non-QM. This integration furthers Deephaven's mission to empower mortgage professionals serving borrowers who face challenges securing a traditional government- financed mortgage. As an is- suer of non-QM mortgage-backed securities, Deephaven provides nonagency loans to the origination community, offering expanded prime, near-prime, nonprime, bank statement loan, investment prop- erty, and interest-only products. Originators are able to de- termine fit across Deephaven's non-QM loan programs and help borrowers that might not qualify for agency programs. Originators can run Deephaven's IDENTI- FI AUS Findings Report on any loan file in Point without having to import/export a 1003 or credit information. Originators do not have to be preapproved with Deephaven to see a detailed breakdown of the qualification criteria applied, along with docu- mentation requirements. "At Deephaven, our mission is to rebuild the nonagency mortgage market by providing common sense-driven underwriting decisions centered around a borrower's ability to repay," said Mike Brenning, Chief Production Officer at Deephaven. "Our integration with Point will allow us to help even more origina- tors reach underserved, yet credit- worthy borrowers and confidently originate non-QM products." "More and more of our origina- tion customers are looking to take advantage of the growing non-QM market," said Bob Dougherty, VP of Business Development at Calyx Software. "By integrating with Deephaven, a leader in non-QM lending, our customers will have access to even more loan options to responsibly expand their busi- nesses." Calyx Software is an estab- lished provider of compliant mortgage software solutions used by banks, credit unions, mortgage lenders, and brokerages nation- wide. The company's technology, including its borrower interview platform, loan origination systems, and secure electronic signature software, is designed to stream- line, integrate, and optimize all phases of the loan process for customers of various sizes, work- flows, channels, and complexities. Deephaven is a full-service, multichannel, long-term investor in the non-QM space. The company provides access to financing to millions of underserved clients throughout the U.S. Deephaven was founded in 2012 to help re- build the nongovernment mortgage market. At that point, mortgage credit had dramatically tightened in response to the housing crisis and millions of creditworthy bor- rowers were still locked out of the mortgage market. "Changing buyer behaviors, as well as advanced data and insights are transforming the lending industry." — Craig Crabtree, SVP and General Manager, Equifax Mortgage Services

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