DataVerify®, a provider of data verification, risk mitigation and workflow automation services, has integrated with Rocket Companies’ Nexsys Technologies.
DataVerify will directly connect with Nexsys Clear HOIsm, a tool from Nexsys Technologies that automates the verification of homeowners insurance (HOI) for mortgage lenders.
“This integration greatly expands what we can offer to our customers,” said Brad Bogel, president of DataVerify. “Automating what have traditionally been manual steps in the lending process is our mission at DataVerify and this integration does just that. It will help our customers increase efficiency and reduce the overall timetable of the lending process.”
In early December of 2020, Nexsys Technologies announced that it made its Clear HOI product – a component of Rocket Companies’ FinTech platform – available to all lenders nationwide.
Before the release of the technology, lenders were forced to contact each insurance company individually to request insurance verification data. This process was cumbersome and could delay loan processing by several days.
“We have had great response to Clear HOI since it was introduced, and we believe lenders will find even more reasons to leverage it with the DataVerify integration,” said Mike Lyon, executive vice president of Nexsys Technologies. “This is a critical tool that significantly modernizes and simplifies the mortgage experience.”