Blue Sage Solutions LLC announced its partnership with PointServ Technologies, a specialist in providing borrower asset and income data, to integrate PointServ’s borrower verification products into the Blue Sage digital lending platform.
Currently, most lenders use separate third-party providers to verify their borrowers’ income and assets, paying between $70 and $80 per loan to do so, Blue Sage said.
Clients can now order PointServ’s digital verification of asset (VOA), verification of employment (VOE), and verification of income (VOI) reports from directly within the Blue Sage platform.
“With the current high interest rate environment, every lender is trying their best to lower costs while still providing borrowers with great service,” said Carmine Cacciavillani, Blue Sage founder and president, in a release. “By integrating PointServ’s technologies into our cloud-based platform, we’re helping them do both.”
PointServ provides lenders with access to complete VOA data directly from all major U.S. financial institutions as well as fast, digital payroll and tax return data directly from payroll providers, tax preparers and the IRS.
“We’re delighted to partner with Blue Sage and share their vision of creating faster, more accurate and cost-efficient mortgages,” said Matt Ellis, senior vice president of PointServ. “We look forward to helping other lenders lower their loan production costs and create happier borrowers, which is possible even in today’s housing market.”
As an authorized report supplier for Fannie Mae and Freddie Mac, PointServ’s verification products allow lenders to achieve rep and warrant relief when originating Fannie Mae and Freddie Mac loans while also enabling lenders to achieve faster closing times.
PrimeLending, a Blue Sage client, recently began leveraging PointServ’s products through the Blue Sage digital lending platform. The results have been “game-changing,” according to Kimberly Hartsough, senior vice president, national production operations manager for PrimeLending.
“Having a technology edge over our competitors is another way to win customers and referral partners,” she said. “Blue Sage and PointServ have catapulted our ability to stay on the cutting edge with direct integrations and automation that are helping to reduce cost per-loan, maximize efficiencies within the loan process, and greatly enhance our customer’s experience. It’s been a game changer for our team and our customers.”