Offering Up Intelligent Identity And Data Collection

Digital mortgage provider Maxwell has released Maxwell ApplyID, its next generation mortgage loan application and data enrichment API. The new release will enable clients — from brokers to national mortgage lenders — to pre-populate loan application data and develop new customer intelligence capabilities.

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The Maxwell ApplyID API unifies a consumer’s data fragments from a host of sources into a structured loan application, enabling data-driven organizations to quickly build profiles of their customers. By collecting their consent and verifying the consumer’s identity with their mobile carrier, Maxwell ApplyID gathers the borrower’s information from its network of data providers to pre-populate fields in a loan application including personal information, employment history, income, real estate owned, financial assets and more. With this new API, clients receive a completed Fannie Mae 3.2 file with minimal input from a consumer.

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This new experience enables lenders of all sizes to dramatically streamline the lengthy loan application process by leveraging the API’s intelligent data-collecting technology. ApplyID completely transforms the loan application experience, shortening what was once an arduous form into a small number of simple questions.

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“We are committed to looking for every opportunity to minimize the complexity and friction in the mortgage process,” said Maxwell CEO John Paasonen. “Maxwell ApplyID accomplishes this by dramatically simplifying the application process, reducing the time it takes a borrower to begin a relationship with their lender. Furthermore, as an API, it fully enables data-driven organizations to optimize their businesses and processes in a new way.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.