A partnership between Floify, a mortgage point-of-sale solution, and Plaid, a technology platform and data network used by numerous fintechs, will enable lenders and loan originators to order and receive Plaid’s Asset Reports from the Floify point-of-sale solution by having consumers connect their bank account through Plaid.
By integrating 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, according to a press release. After a Plaid request is initiated, borrowers are prompted to select their financial institution and enter their credentials via Plaid’s front-end module. Once logged in, the borrower’s asset report is transmitted and synced to their corresponding loan file, which saves 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,” Floify CEO Dave Sims said in the release. “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 Day 1 Certainty-approved digital asset verification functionality.”
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.