The mortgage industry has largely remained unchanged with regard to the loan manufacturing process for decades. Mortgage verifications, particularly, have seen little innovation until now. While industries like retail, healthcare, and even banking have embraced digital transformation, mortgage lending has been slow in its adoption. Outdated legacy systems, fragmented workflows, and a general resistance to change have kept the industry stuck in the past—reliant on paper-heavy processes, manual verifications, and clunky customer experiences.
But the tides are shifting. Rising costs, competitive pressures, and increasing borrower expectations are forcing lenders to rethink the way they operate. The market is demanding efficiency, automation, and a seamless digital experience. And Xactus is accelerating this shift by introducing a new class of technology that is built on valuable insights which are derived from verification data. It is called Intelligent Verification.
Intelligent Verification replaces rigid, cost-intensive scenarios with easy-to-configure, automated solutions, while improving risk evaluation, loss mitigation, customer retention, and helping ensure the ability to repay. It utilizes a data-driven scalable platform to reframe how, what, and when we verify.
Intelligent Verification Platform SM (IVP): What It Is, What It Does, and How Lenders Benefit
An Intelligent Verification Platform (IVP) is a user-centric technology platform that integrates with existing Point of Sale (POS), Loan Origination System (LOS), Servicing platform and Customer Relationship Management (CRM) technologies to realize the enhanced decisioning and efficiency benefits inherent to Intelligent Verification. Essentially, an IVP delivers the data lenders and servicers need, when they need it, so they can make smarter decisions more quickly while reducing waste and friction. They can dynamically transform their workflows, replacing inflexible, costly scenarios with easy-to-configure, automated and scalable solutions. The results are faster decisions, flexible processes, and significantly reduced waste—all powered by the IVP.
Let’s look at the specific benefits an IVP, such as Xactus360, delivers:
- Increased Focus on More Valuable Work – By automating manual processes that were previously managed by human capital, employees can spend time on more meaningful tasks that require human discernment, personal interaction, and critical thought.
- The Ability to Scale Flexibly to the Needs of the Market – An IVP enables lenders and servicers to pivot their operations quickly to meet the needs of the market as volumes ebb and flow – without having to increase or decrease their headcount.
- Dynamic Workflows That Respond to Context – An IVP allows lenders to make superior loan decisions regardless of circumstance, expertise, and experience, enabling more junior employees to operate at a more advanced level.
Intelligent Verification encompasses much more than verifying credit, income, and employment. It includes critical attributes required to qualify for a mortgage such as verifying identities, flood plains, home valuations, etc.
We envision Xactus360 as a critical platform that wraps around the existing mortgage ecosystem, serving as a vital connection to the industry and the verification products that lenders need and desire. We strategically partner with other providers, expanding our product capabilities by utilizing our platform to distribute their solutions. We aim to go beyond the basic needs of our customers, ensuring they have access to the solutions that best fit their unique landscapes. By strategically partnering with other providers, Xactus enhances its product offerings, leveraging our platform to deliver even more valuable solutions.
Ultimately, Xactus360 is a comprehensive and flexible fulfillment vessel that is focused not only on originations, but also on servicing systems integrations –technology that looks across the mortgage lifecycle.
To learn more about Intelligent Verification Platforms, AI, APIs, and other emerging technologies in the mortgage space visit xactus.com/ivp.