DENVER, Colo. /ScoopCloud/ -- Maxwell, the emerging leader of digital mortgage automation software, unveiled today a partnership with Equifax Inc., a global information solutions provider, that will provide Maxwell customers and their borrowers with a faster, more seamless experience, beginning with automated employment and income verification through its proprietary database, The Work Number(R) (TWN). Equifax is a launch partner for Maxwell's newly released "Connected Apps" platform built on its powerful API, enabling lenders to customize the experience for their borrowers.
The integration of TWN, the database of income and employment records from Equifax, will enable lenders to access employment and income verifications directly through Maxwell as well as enhance the borrower's loan application experience. TWN is the largest source for up-to-date employment data, providing access to 290 million payroll records from thousands of employers nationwide, including more than 80 percent of Fortune 500 companies.
"Our partnership with Maxwell affirms our commitment to accelerate innovation in mortgage origination," said Gaurav Khanna, general manager of Fraud, Mobile & FinTech partnerships at Equifax. "Lenders using Maxwell will benefit from greater speed of origination and confidence in the information being used for loan decisioning. As the partnership continues to evolve, our access to differentiated assets, advanced analytical tools, and technology will become essential to helping partners like Maxwell drive the mortgage industry forward."
Maxwell revolutionizes the way that mortgage lenders work with their clients to close a mortgage. Lending teams on Maxwell collaborate with homebuyers in an elegant digital workspace, on any device, with connectivity to thousands of data and lending resources. What's more, Maxwell's proprietary algorithms, built on its network of data aggregated across loans, will enable its lenders to move efficiently by delivering insights and workflow adjustments. Maxwell reports that loans on its platform close 22 days faster than the industry average.
"Profitability in the mortgage industry must first be driven by access to reliable data," said John Paasonen, CEO of Maxwell. "Our goal has always been to increase the efficiency of our customers by streamlining access to data for their front-line teams and their borrowers. This partnership with Equifax is a significant step to transform the way the industry originates loans -- most notably in speed, quality and satisfaction."
Maxwell empowers mortgage lenders to be more connected, productive and successful by intelligently automating their workflow with homebuyers and real estate agents. The platform is used by lenders nationwide to serve their customers. Founded in 2015, Maxwell has been named as one of the housing economy's most innovative companies by HousingWire, is a member of the Mortgage Bankers Association, and is proud to be built in Denver, Colorado. Learn more about Maxwell at https://www.himaxwell.com/.
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Maxwell, the emerging leader of digital mortgage automation software, unveiled today a partnership with Equifax Inc., a global information solutions provider, that will provide Maxwell customers and their borrowers with a faster, more seamless experience, beginning with automated employment and income verification through its proprietary database, The Work Number(R) (TWN).
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