Mortgage software solution fintech OpenClose® announced that it has integrated its LenderAssist™ loan origination system with the DataVerify® DRIVE® platform to seamlessly validate borrower-provided data.
LenderAssist users can initiate a comprehensive data verification analysis within the system that compares borrower information across multiple data sources to validate their information. The lender receives a full DRIVE report and is alerted when variances occur during the origination process. Using the DRIVE platform, OpenClose customers can now cross check key borrower information. DataVerify automatically combs and compares the results from many different databases to pinpoint the same risk factor in order to confirm or deny its existence.
DRIVE also checks the borrower’s background for bankruptcies, foreclosures, liens and judgments, real estate property owned, driver’s license validity, and other information that affects lender and investor risk assessment.