Advanced Data Corporation (ADC), the leading provider of enhanced verification solutions to the mortgage industry, today 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.”
To learn more about Advanced Data’s borrower verification services, visit https://www.advanceddata.com/.
Ncontracts provides integrated risk management and compliance software to a rapidly expanding customer base of almost 4,000 financial institutions and mortgage companies in the United States. The company’s powerful combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly cloud-based solution suite that encompasses vendor risk, organizational risk, audit risk, and compliance risk management. The company is named to the Inc. 5000 fastest-growing private companies in America for the 2nd consecutive year and is a recipient of the Tennessean Top Workplaces Award.
About Advanced Data
Advanced Data is recognized as the standard for enterprise-wide mortgage data integrity, specializing in fraud prevention and enhanced verifications. Its proprietary technology is integrated with loan origination systems, and the firm offers a SaaS platform for clients that prefer a custom solution. Its services include eSign 4506-C, streamlined verifications and re-verifications of employment, fraud reports, and flood zone determinations. The firm prides itself on delivering superb customer service, hiring experienced employees, and developing customized, sophisticated technology. It’s one of the only firms in its sector to employ an in-house development group, which ensures its technology provides a competitive advantage to clients and can be customized to their needs. For more information, visit advanceddata.com.