This partnership features a package of Touchless Lending Automation designed to streamline the lender’s aggressive growth plans for 2023.
SANTA CLARA, Calif.–(BUSINESS WIRE)–#automation—Tavant, a Silicon Valley-based provider of industry-leading digital lending solutions for over 20 years, and Revolution Mortgage, a nationwide residential mortgage lender, today announced they have partnered to integrate Revolution’s digital mortgage experience with Tavant’s Touchless Lending® platform. This partnership will feature an end-to-end implementation of Touchless Lending Automation, starting with Decision Analysis, followed by Document, Credit, and Collateral Analyses in early 2023.
“As we get closer and closer to launch, it is clear to us that Decision Analysis is more than just a tool for underwriters and quality control. We see Touchless Lending as a way to get to market faster with a competitive advantage and work efficiently in the market as conditions fluctuate,” said Tony Grothouse, CEO at Revolution Mortgage. “We have aggressive growth plans for Revolution for 2023, and this technology is exactly the type of infrastructure and efficiency we need in place to expand and deliver quality assets into the secondary market.”
Touchless Lending Decision Analysis will allow Revolution Mortgage to automate and streamline its underwriting and application processes, thereby improving the lender’s overall borrower experience. This intuitive product allows lenders to optimize loan origination and processing by reviewing Multi-AUS (Automated Underwriting Systems) responses and comparing them with loan-specific data and Investor guidelines to generate multiple options to improve operational efficiency, including optimizing costs and decreasing processing times, among other potential avenues. Decision Analysis can integrate with any lender ecosystem and delivers a frictionless origination experience in the mortgage underwriting process for Borrowers, Loan Officers, Underwriters, and Capital Market teams.
“Lending transactions, especially in the residential mortgage space, don’t just take place between borrowers and lenders. Rather, there are several other parties in the mix,” said Mohammad Rashid, Head of Fintech Innovation at Tavant. “Therefore, more than simply having one source of truth – one lending interface for both the lender and borrower – is needed to make any digital lending platform out there in the market its true-to-word digitized and automatized self. We are confident that Touchless Lending is that truth and investing in the whole platform will render the most optimal results, and once we finish deploying Document, Credit, and Collateral for Revolution Mortgage, our partnership will prove just that.”
As of today, Revolution Mortgage has fully deployed Tavant’s Decision Analysis solution into production. This is the first step in the nationwide residential mortgage lender’s integration with Touchless Lending, which will feature implementations of the platform’s Document Analysis, Credit Analysis, and Collateral Analysis automations starting in early 2023.
As a leading Fintech software and solutions provider for more than 20 years, Tavant proactively anticipates customer needs and adjusts accordingly to provide the right configurable solutions. Tavant’s Touchless Lending® product suite, which now includes Credit and Collateral Analysis, maximizes data-driven decision-making to solve even the most complex lender and borrower challenges.
Headquartered in Santa Clara, Calif., Tavant is a digital products and solutions company that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Tavant’s growing customer base originates one out of every three loans in the United States. Founded in 2000, the company employs over 3000 people and is a recognized top employer. Tavant has created an AI-powered intelligent lending enterprise by reimagining customer experiences, driving operational efficiencies, and improving collaboration.
About Revolution Mortgage
Revolution Mortgage is a nationwide lender that offers lower rates and payments for refinancing and home purchase loans. We leverage technology to boost efficiencies in the loan process to give you a lower rate, faster closing, and a brand experience that’s ridiculously amazing. Founded in Columbus, Ohio, we have brick-and-mortar offices nationwide, and a digital lending platform with a seamless online lending experience. We offer a range of loans customized to fit a variety of needs.