Finicity Delivers a Frictionless Digital Lending Experience with Cre8tech Labs’ Lender Price

Finicity’s asset verification solution to be integrated into Lender Price’s digital pricing platform

SALT LAKE CITY, Utah – July 12, 2018 – Finicity, a provider of real-time financial data aggregation and insights, announced today it has signed on to work with Cre8tech Labs, Inc., a provider of innovative technology products for the financial services industry, to streamline and speed up the verification process in mortgage lending. The initial focus is on the integration of Finicity’s Verification of Assets (VoA) solution into Cre8tech’s Lender Price Digital Lending™ platform to further digitize the mortgage experience for lenders and borrowers.

Finicity’s credit decisioning solutions allow lenders to free up resources, improve accuracy and reduce fraud, all while giving borrowers a paper-free, hassle-free experience that utilizes transaction data direct from financial institutions. Lender Price provides a digital application for the loan officer and borrower to collaborate to apply for a mortgage that is fully integrated with the Lender Price pricing and eligibility engine.

“Consumers understandably want the most accurate information when making a life-altering purchase like a new house. Lenders want to meet those expectations while improving efficiency and profitability,” said Steve Smith, CEO and co-founder of Finicity. “We’re excited to work with Lender Price, another disruptor that is enhancing the mortgage lending experience for borrowers and lenders with a smart, digital solution.”

“At Lender Price, we highly value speed and accuracy within the mortgage lending process, which directly correlates with Finicity’s mission,” said Lender Price president, Dawar Alimi. “Together, we’re equipping lenders with the innovative tools they need to streamline mortgage originations.”

The partnership has already seen success with a variety of customers, including Mountain West Financial, Inc.

“We’re excited to provide our borrowers with the exceptional customer experience of automated VoA reports,” said Cindy Douglas, Mountain West Financial implementation and onboarding specialist. “It makes our loan officers more efficient, providing them asset data faster and helping reduce the time to close. Improvements to our digital mortgage process are crucial to making homeownership a reality for our communities.”

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter® (DU®). This gives lenders a validated asset report through Fannie Mae’s Day 1 CertaintyTM initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

To stay up to date on all Finicity company and product announcements, visit the website at www.finicity.com.

About Finicity:

Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning in mortgage lending, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner.

About Cre8tech Labs Inc DBA Lender Price:

Cre8tech Labs, Inc. was founded by Dawar Alimi, Ly Kou Nhiayi, and Ly Kao Nhiayi to create simple, open, flexible technology to enable our partners to grow. For more information, please visit LenderPrice’s website.