Tavant powers Ditech’s new mortgage POS system
Technology from Tavant is playing a role in the comeback of US mortgage lender Ditech, reports David Penn at Finovate.
♫ Baby, come back ♫
Having completed a financial restructuring that helped bring it out of Chapter 11 bankruptcy in February, Ditech has unveiled a mortgage point of sale (POS) solution geared toward millennial and Generation Z borrowers.
The new technology was developed as part of a joint effort between Ditech’s own in-house team and Tavant Technologies, with its digital lending platform, Velox.
Founded in 1958, Ditech Holdings is a Fort Washington, Pennsylvania-based independent servicer and originator of mortgage loans, as well as a reverse mortgage loan servicer. With 3,700 employees, the company has a market capitalisation of $27 million.
Tavant’s partnership news comes just days after the company announced another collaboration, this time working with ComplianceEase, an automated compliance solutions provider. The company will integrate with Tavant’s Velox technology to let lenders close loans.
Tavant teamed up with Freddie Mac in May to enable one-click submission of loan data to Freddie Mac’s automated underwriting system.
That same month, Factual Data, a US credit and data validation services provider to the mortgage industry, announced credit integration with the Velox solution.
Headquartered in Santa Clara, California, Tavant’s Velox product suite consists of four elements: FinXperience, a suite of portals and companion mobile apps; FinCapture, an autonomous document ingestion platform; FinConnect, a mortgage data and services hub; and FinSight, an analytics engine for predictive insights.
Tavant was founded in 2000. Sarvesh Mahesh is CEO.
