{"id":100332,"date":"2023-09-19T16:24:03","date_gmt":"2023-09-19T20:24:03","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=100332"},"modified":"2023-09-19T19:06:36","modified_gmt":"2023-09-19T23:06:36","slug":"floify-announces-launch-of-verification-of-income-and-employment-waterfall-technology","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/floify-announces-launch-of-verification-of-income-and-employment-waterfall-technology\/","title":{"rendered":"Floify announces launch of verification of income and employment waterfall technology"},"content":{"rendered":"

BOULDER, Colo., Sept. 19, 2023 (SEND2PRESS NEWSWIRE) — Floify<\/a>, the mortgage industry’s leading point-of-sale solution and subsidiary of Porch Group, Inc. (“Porch Group\u201d) (NASDAQ: PRCH), today announced the launch of verification of income (VOI) and verification of employment (VOE) waterfall technology. The new features will help lenders and brokers save time and reduce costs during the loan origination process.<\/p>\n

\"Floify\"
Image Caption: Floify.<\/em><\/p>\n

Running employment and income verification reports is an important yet expensive step in the mortgage process and designed to reduce loan risk during underwriting. The new VOI and VOE features in the Floify platform enable mortgage professionals to view the results of multiple verification reports from different providers, starting with the least expensive, rather than having to run each one individually. This is expected to save Floify clients time while also realizing cost savings.<\/p>\n

\u201cWe are pleased to launch the VOI and VOE waterfall with Informative Research. This unique technology will help our clients reduce costs, which is especially important today as verification-related fees increased significantly in the past three years,\u201d said Sofia Rossato, Floify\u2019s president and general manager. \u201cAs an added benefit, because these waterfalls can be run within the Floify platform, our clients can bypass loan origination system add-on fees that often come with enabling new features.\u201d<\/p>\n

\u201cThe Floify and Informative Research VOE\/I waterfall solution helps us accelerate the application-to-close timeline while delivering significant cost reductions to our branches and clients,\u201d said John Norris, vice president of technology and innovation at Benchmark Mortgage, a Dallas-based mortgage lender.<\/p>\n

\u201cInformative Research\u2019s Verification Waterfall and AccountChek technologies work together with Floify\u2019s platform to enhance the asset, employment and income verification processes. The partnership seeks to eliminate redundant orders and to streamline what used to be a cumbersome procedure for lenders,\u201d said Craig Leabig, SVP of marketing and product management for Informative Research.<\/p>\n

To learn more about Floify, please visit https:\/\/floify.com\/<\/a>.<\/p>\n

About Floify:<\/strong><\/p>\n

Floify is a digital mortgage automation solution that streamlines the loan process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Loan originators use the platform to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. The company is based in Boulder, Colorado and is a subsidiary of Porch Group, Inc. (“Porch Group\u201d) (NASDAQ: PRCH). For more information, visit the company\u2019s website at https:\/\/floify.com\/<\/a> or on social media at Facebook<\/a>, LinkedIn<\/a>, or Twitter \/ X<\/a>.<\/p>\n

About Informative Research:<\/strong><\/p>\n

Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves over 3,000 mortgage companies, banks and lenders throughout the United States. The company is recognized for streamlining the loan process with their straightforward business model, progressive solutions and cutting-edge technology. Learn more at https:\/\/informativeresearch.com\/<\/a>.<\/p>\n

Forward-Looking Statements:<\/strong><\/p>\n

Certain statements in this release may be considered \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. Although the Company believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Generally, statements that are not historical facts, including statements concerning the Company\u2019s possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cprojects,\u201d \u201cforecasts,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cseeks,\u201d \u201cplans,\u201d \u201cscheduled,\u201d \u201canticipates,\u201d \u201cintends,\u201d or similar expressions.<\/p>\n

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Porch and its management at the time they are made, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) expansion plans and opportunities, and managing growth, to build a consumer brand; (2) the incidence, frequency, and severity of weather events, extensive wildfires, and other catastrophes; (3) economic conditions, especially those affecting the housing, insurance, and financial markets; (4) expectations regarding revenue, cost of revenue, operating expenses, and the ability to achieve and maintain future profitability; (5) existing and developing federal and state laws and regulations, including with respect to insurance, warranty, privacy, information security, data protection and taxation, and management\u2019s interpretation of and compliance with such laws and regulations; (6) the Company\u2019s reinsurance program, which includes the use of a captive reinsurer, the success of which is dependent on a number of factors outside management\u2019s control, along with reliance on reinsurance to protect us against loss; (7) uncertainties related to regulatory approval of insurance rates, policy forms, insurance products, license applications, acquisitions of businesses or strategic initiatives, including the reciprocal restructuring, and other matters within the purview of insurance regulators; (8) reliance on strategic, proprietary relationships to provide the Company with access to personal data and product information, and the ability to use such data and information to increase transaction volume and attract and retain customers; (9) the ability to develop new, or enhance existing, products, services, and features and bring them to market in a timely manner; (10) changes in capital requirements, and the ability to access capital when needed to provide statutory surplus; (11) the increased costs and initiatives required to address new legal and regulatory requirements arising from developments related to cybersecurity, privacy, and data governance and the increased costs and initiatives to protect against data breaches, cyber-attacks, virus or malware attacks, or other infiltrations or incidents affecting system integrity, availability and performance; (12) retaining and attracting skilled and experienced employees; (13) costs related to being a public company; and (14) other risks and uncertainties discussed in Part I, Item 1A, \u201cRisk Factors,\u201d in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2022, and in Part II, Item 1A, \u201cRisk Factors,\u201d in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, as well as those discussed in subsequent reports filed with the Securities and Exchange Commission (\u201cSEC\u201d), all of which are available on the SEC\u2019s website at www.sec.gov.<\/p>\n

Nothing in this release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. Porch does not undertake any duty to update these forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may be required by law.<\/p>\n

MULTIMEDIA:<\/strong><\/p>\n

LOGO link for media: https:\/\/www.Send2Press.com\/300dpi\/23-0919-s2p-Floify-logo-300dpi.jpg<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BOULDER, Colo., Sept. 19, 2023 (SEND2PRESS NEWSWIRE) — Floify, the mortgage industry’s leading point-of-sale solution and subsidiary of Porch Group, Inc. (“Porch Group”) (NASDAQ: PRCH), today announced the launch of verification of income (VOI) and verification of employment (VOE) waterfall technology. The new features will help lenders and brokers save time and reduce costs during the loan origination process.<\/p>\n","protected":false},"author":9689,"featured_media":100331,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,12804,32,1,29,38,10711,559,99,6,5],"tags":[205,687,8997,19566],"class_list":["post-100332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-ap","category-boulder-news","category-business-news","category-colorado-news","category-finance-news","category-fintech","category-products-news","category-public-company-news","category-software-news","category-technology-news","tag-depthpr","tag-informative-research","tag-loan-origination-solution","tag-nasdaq-prch","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":5902,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/100332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/9689"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=100332"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/100332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/100331"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=100332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=100332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=100332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}