Maxwell Revolutionizes Loan Application with ApplyID, the Intelligent Loan App & Enrichment API

intelligent loan application

We are relentless in our dedication to improving the mortgage loan experience. We are constantly scrutinizing the loan process from end to end to identify pain points that we can help lenders alleviate with digital mortgage technology.

Our simple, customizable 1003 has long been lauded by borrowers and lenders alike for its ease of use and ability to speed up the application process. But we’ve found a way to make our loan application even better.

We are thrilled to introduce our new intelligent loan application and data enrichment API, ApplyID, which uses data-collection technology to aggregate borrower information and auto-populate the borrower’s 1003, minimizing the burden on the borrower and dramatically reducing the time it takes to complete the mortgage loan application.

The Maxwell ApplyID API unifies a consumer’s data fragments from a host of sources into a structured loan application, enabling data-driven organizations to quickly build profiles of their customers.

By collecting their consent and verifying the consumer’s identity with their mobile carrier, Maxwell ApplyID gathers the borrower’s information from its network of data providers to pre-populate fields in a loan application including personal information, employment history, income, real estate owned, financial assets and more. With this new API, clients receive a completed Fannie Mae 3.2 file with minimal input from a consumer.

This new experience enables lenders of all sizes to dramatically streamline the lengthy loan application process by leveraging the API’s intelligent data-collecting technology. ApplyID completely transforms the loan application experience, shortening what was once an arduous form into a small number of simple questions.

To learn more, read the full press release here.