The conference’s new format featured a full-day of product and solution demos by both mature tech companies and fintech startups. Many of the presenters were third-party data sources like Finicity, FormFree, Equifax, and others that offer access to the data mortgage lenders need.
FormFree, for example, announced and demoed Verification of Employment and Income services for Fannie Mae’s Day 1 Certainty (I heard some of the cool kids say “D1C”). Last year, lenders and vendors were concerned over the D1C workflow and adoption. The big story this year is that we are definitely seeing adoption progress. Lenders and vendors are both trying to make sure that D1C is well understood, is integrated into clear workflows, and can be efficiently leveraged—whether at the point of sale or within in the loan origination system.
It’s clear that this year will be a big year for D1C as lenders drive adoption in order to get the benefits of the efficiencies that accompany digital data: speed and accuracy.
