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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 6 November 2024 M T E C H the company, the alliance will also allow business users and data analysts to safe- ly access, share, and query data within Google Cloud's infrastructure. "At Equifax, we believe that more data drives smarter decisions," said Todd Horvath, President of U.S. Infor- mation Solutions at Equifax. "By mak- ing our differentiated data available on Google Cloud's Analytics Hub, we are not only helping our customers make predictive and informed decisions, but we are increasing the speed and agility of those decisions by meeting them on their channel of choice." Through the Google Cloud Analyt- ics Hub, customers may securely access anonymized Equifax datasets through search and discovery on the Google Cloud Marketplace. The first datasets will consist of: • U.S. Consumer Credit Trends, which provides a unique perspective into anonymized, time-series credit data. These datasets cover the U.S. consumer credit population and are specifically attributed for trending, market analysis, benchmarking, and research purposes across loan types such as auto loans and leases, bank cards, first mortgage originations, and student or personal loans. • Equifax Analytic Dataset, which is an unbiased, anonymized statistical sample of loan-level credit data and a representation of the U.S. credit active population. These insights enable users to better model delin- quency, default, loss severity, and prepayment. • B2bConnect Commercial Market- ing Data, which includes verified firmographic information on more than 61 million U.S. businesses and 185 million global businesses, such as vertical industry coding, revenues, number of employees, corporate hierarchy, and many other valuable attributes for better targeting of sales and marketing activities. "Google Cloud and Equifax have a longstanding commitment to improving business decision-making with data," said Stephen Orban, VP of Migrations, ISVs, and Marketplace at Google Cloud. "Our expanded partnership will bring powerful new datasets to Analytics Hub, such as credit trends that financial insti- tutions can easily apply in BigQuery to better evaluate market and credit perfor- mance to enable smarter decisions." NEW FLOIFY VERIFY PLATFORM DESIGNED TO SIMPLIFY THE MORTGAGE ORIGINATION PROCESS F loify has announced the launch of Floify Verify, a native elec- tronic verification of income and employment (VOIE) service powered by Argyle. Floify Verify, which was created to expedite the mortgage origination process, enables brokers and lenders to verify employment and income at a reasonable rate without having to deal with extra third-party vendors. Lenders can prioritize their business goals, such as expediting loan process- ing or maximizing cost savings, thanks to Floify Verify's built-in features. To cut down on delays and speed up loan approval, lenders that prioritize speed can incorporate Floify Verify straight into the loan application process. Lenders who want to control expenses can also set up Floify Verify to be started by loan teams at a later stage, like following a financial pre-screening. This way, they can strike a balance between borrower experience, cost-effectiveness, and efficiency. "VOIE has been a pain point for many of our customers, with legacy verification methods achieving low success rates at a high price point. These methods are ill-suited to today's work- force and too expensive at a time when origination costs have risen to untenable levels," said Sofia Rossato, President and General Manager of Floify. "In response, we've partnered with Argyle to offer an elegant and cost-effective way for lend- ers to verify income and employment in the Floify environment without the hassle of managing additional vendors." Reports issued by Floify Verify may be eligible for representations and war- ranty relief from Freddie Mac and Fannie Mae about qualified loan components. This is because Argyle, the company that powers Floify Verify, is an approved report supplier to Freddie Mac's Loan Product Advisor (LPA) asset and income modeler (AIM) and Fannie Mae's Desktop Under- writer (DU) validation service. Lenders can see borrower-permis- sioned documents, like pay stubs and W-2s, at 60–80% less expense with Floify Verify compared with legacy suppliers and manual verification techniques. Additionally, the system offers free on-demand re-verification for things like agency loans, which require 10-day pre-closing verification. "Argyle is proud to extend a mod- ern verification experience to more borrowers and originators through our collaboration with Floify," said Shmulik Fishman, Founder and CEO of Argyle. "Floify Verify, powered by Argyle, equips lenders with a faster, more efficient way to handle VOIE, shaving up to a week off closing times and dramatically cut- ting costs—all while reducing the risk of loan buybacks." FIRST AMERICAN TITLE LAUNCHES TECHNOLOGY PLATFORM FOR TITLE AGENTS F irst American Title Insurance Company has announced the launch of a reimagined AgentNet, a technology platform that offers the goods and services that First American title agents value most in a centralized, user-friendly location. Title agents may now more readily access business-critical capabilities thanks to the new platform's easy navigation,