Advanced Data And Ncontracts Develop Strategic Partnership
More than 70 clients successfully migrated to new platform for verification services.
Advanced Data Corporation (ADC), the leading provider of enhanced verification solutions to the mortgage industry, announced a strategic partnership with Ncontracts, the leading provider of integrated risk management solutions for the financial services industry. The partnership is the result of Ncontracts scaling up operations on the back of its QuestSoft acquisition, in January 2021.
This partnership allows Ncontracts clients to access verification services through Advanced Data. Together, the two companies have migrated more than 70 mortgage lending clients to the Advanced Data platform, providing seamless access to ADC’s full suite of consumer verification services. This group of lenders can now connect to ADC through an array of integrations with industry leading loan origination systems such as Encompass®, or through Advanced Data DirectTM via the web.
Regulations and best practices require lenders to verify an array of sensitive information about their borrowers including employment, income, assets, social security number, and income tax data. Advanced Data has provided these services (which include pre- and post-closing fraud investigation and flood zone determination) to lenders across the country for more than a decade and is a member of the DU® Validation Service group, authorized to provide reports compliant with Fannie Mae’s Day 1 Certainty® initiative.
“We’re extremely pleased with this strategic partnership. The people at Ncontracts have been fantastic to work with,” said Jon Maynell, President of Advanced Data Corporation. “Our ability to seamlessly transitions these clients to our platform without significant downtime is emblematic of the high level of synergy in this collaboration.”
Leveraging proprietary technology, ADC maintains the best service levels in the industry and is proud to have completed this large-scale migration in record time with minimal disruption to client workflow and productivity.
One nationally recognized mortgage lender described their migration experience this way, “There were system enhancements and technical areas of the transition that needed to be tweaked and adjusted, and the team at Advanced Data has efficiently updated these in a timely manner. All of these have been ‘wins’ for our team, we are very appreciative of the quick responses to our requests and follow through to implement these updates. The team at Advanced Data has been extremely receptive to our needs and is willing to meet us as they work to make sure we are satisfied.”
Topics: News & Updates