It’s the age of digital convenience, and borrowers expect their mortgage application to be as quick and easy as all their other online transactions. Facilitating a smooth, user-friendly borrower experience requires more than just an easy application. To avoid friction, slowdowns, and repetitive requests for documentation, lenders need accurate, verified data from the earliest stages of the loan process.
The solution? Verification embedded at the point of sale (POS).
Why Verification at POS Matters
Traditional verification processes often involve manual uploads, document chases, and ultimately, long delays. This leads to more borrower frustration and increased fallout as they lose homes in competitive markets due to uncertainty about qualification.
Early verification, powered by a POS built to enhance the borrower experience, helps lenders qualify borrowers faster, reduces loan officer (LO) busywork, and builds borrower confidence. It sets the tone for a smoother journey from day one.
Benefits for Everyone
- Borrowers apply faster and spend less time chasing down documents (sometimes repeatedly).
- LOs have access to verified data from day one, freeing time to build realtor partnerships and capture new leads instead of re-keying documents.
- Lenders see lowered costs, fewer early fee losses, stronger compliance, and better conversion rates.
How LiteSpeed Integrates Verification
LenderLogix’s LiteSpeed POS delivers integrations with three of the industry's largest providers of consumer-permissioned data: Argyle, Truv, and Informative Research’s AccountChek.
All three providers enable lenders to qualify for rep and warrant relief under Fannie Mae’s Day 1 Certainty® program and Freddie Mac’s Asset and Income Modeler (AIM) capability in Loan Product Advisor®. By providing access to multiple trusted solutions, LiteSpeed empowers lenders to work flexibly and tailor their verification solutions to effectively meet the needs of borrowers with diverse income and employment situations.
Using these integrations, borrowers can easily provide verified income, employment, and asset data within LiteSpeed as part of the mobile application. This method reduces errors and re-keying by pulling structured data that flows instantly to ICE Mortgage Technology’s loan origination system, Encompass®.
With more verified data earlier on, LOs can make faster, clearer decisions, creating a powerful first impression.
The Competitive Edge of a Verified Start
In a world of consumers accustomed to convenience, speed and accuracy aren’t just nice-to-haves. They’re critical competitive advantages. Lenders who fail to embed verification risk higher fallout and lost deals, while those who implement drive their business forward.
With verification embedded in the LiteSpeed POS, every application starts smarter, moves faster, and builds borrower confidence from the first click. Learn how LiteSpeed makes every application smarter from the start.
