Experian and Tavant join forces to modernize and improve the mortgage origination process for consumers and lenders
Washington, D.C., Oct. 15, 2018 At the Mortgage Bankers Association’s Annual Convention & Expo today, Experian®, the world’s leading information services company, and Tavant, a leading digital mortgage products, and platforms company announced an integration to digitize the loan origination process and create a streamlined experience for consumers and lenders. Now, consumer-verified data from Experian will be integrated into Tavant’s VΞLOX platform, enabling a more streamlined environment to help consumers satisfy mortgage originators’ information needs quickly and securely. According to findings published by the Federal Housing Finance Agency, 18 percent of home loan applicants were forced to redo their paperwork in 2016, and nearly 24 percent ultimately had their closing dates postponed. The new integration with Tavant eliminates the need for consumers to enter and re-enter information manually, saving time and reducing the potential for error. “Traditional mortgage processes are cumbersome. We’re constantly innovating to find new ways to improve the mortgage experience for everyone involved,” said Michele Pearson, general manager, Experian Mortgage. “Through this integration with Tavant, we’re leveraging the power of data to create the secure, efficient experience consumers are looking for while helping lenders make the right decisions, faster.” Tavant VΞLOX is the industry’s leading AI-powered digital lending platform that maximizes the use of data-driven processes in the automation of the loan origination life cycle. Its components include FinConnect, a mortgage data and services hub that connects the internal and external systems of the mortgage network, and FinXperience, a unified immersive experience platform for borrowers, loan officers, wholesale brokers and correspondent sellers. “As more tech-savvy millennials and younger generations pursue a mortgage, we believe lenders will find themselves falling behind if they’re not creating a user-friendly and digital experience for borrowers,” said Hassan Rashid, chief revenue officer at Tavant. “Through this collaboration with Experian, we are creating a simple, touchless and transparent experience for future homeowners and mortgage lenders.” Several leading national lenders, such as Fairway Independent Mortgage, Ditech Financial, CMG Financial and Sierra Pacific Mortgage, are using Tavant VΞLOX to enable digital mortgage transactions. To learn more about Experian’s mortgage business, visit Experian at Booth #339 and Tavant at Booth #243 at the Mortgage Bankers Association’s Annual Conference & Expo or visit www.experian.com/mortgage. Find Tavant on LinkedIn and Twitter. About Experian Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime. We have 16,500 people operating across 39 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index. Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group. Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
Tavant VΞLOX Helps Support PennyMac Loan Services
SANTA CLARA, Calif., October 15, 2018 Tavant, a leading digital products, and platforms company announced today that it has launched an advanced digital mortgage solution for PennyMac Loan Services (PLS). Fueled by Tavant VΞLOX, a leading lending technology platform, the solution supports a data-driven mortgage platform and is expected to drive a superior experience for customers and partners through more streamlined automation, improved loan fulfillment efficiency and overall digital simplification. “We are proud of our partnership with PennyMac, one of the leading residential mortgage companies in the United States,” said Hassan Rashid, Tavant’s CRO. “We have developed an intuitive mortgage origination process by simplifying and personalizing the customer experience.” By optimizing online engagement, the new platform delivers a fluid experience to customers and maximizes the use of data-driven processes. It is expected to enhance the loan application intake through the consumer and broker channels, further improve operations productivity and reduce loan cycle times. “Our vision is to deliver superior value to our customers and business partners,” said Jim Follette, Senior Managing Director and Chief Mortgage Fulfillment Officer for PennyMac Loan Services, LLC, an indirectly controlled subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). “We believe Tavant’s digital experience will help contribute to long-term customer excitement. We are optimistic that, with future enhancements, this product will continue to support our drive to successfully grow and strengthen our leadership position in the market.” About Tavant VΞLOX Tavant VΞLOX is the industry’s leading AI-powered digital platform that maximizes the use of data-driven processes in the automation of the loan origination lifecycle. It brings true digital disruption to the mortgage industry with an immersive omnichannel experience and high-velocity execution: from loan discovery to loan funding to loan servicing. Find Tavant on LinkedIn and Twitter. Media Contact: Vibhor Mishra Tavant 408.519.5400 | [email protected]