Tech 100 winner Maxwell just launched a new loan application and data enrichment API it has dubbed Maxwell ApplyID.
According to Maxwell, the new tech enables clients to pre-populate loan application data and develop new customer intelligence capabilities with little to no hassle.
ApplyID unifies a consumer’s data fragments and compiles them into a structured loan application, which gives users of the API a clearer picture of their customers.
Thanks to a host of automated data finding functions, ApplyID is capable of providing clients with a completed Fannie Mae 3.2 file with minimal input from a consumer. According to Maxwell, the whole loan application process can now be completed by answering a few simple questions, drastically decreasing the time spent on the loan application process and taking the ache out of a rather vexing task.
“We are committed to looking for every opportunity to minimize the complexity and friction in the mortgage process,” Maxwell CEO John Paasonen said in a statement.
“Maxwell ApplyID accomplishes this by dramatically simplifying the application process, reducing the time it takes a borrower to begin a relationship with their lender. Furthermore, as an API, it fully enables data-driven organizations to optimize their businesses and processes in a new way,” he added.
