DataVerify Announces CondoTek to Provide Condo Data and Document Solution

ST. LOUIS--(BUSINESS WIRE)--DataVerify^®, a leading provider of workflow solutions, data verification, and risk mitigation services to the mortgage industry, announced today that they are now able to direct clients to CondoTek™ for access to its CondoPak™ service.

CondoPak allows lenders to easily acquire and service a complex array of data and documents required for underwriting and approving condominium eligibility and qualification of homeowner association properties.

DataVerify clients will benefit from the qualification of property eligibility, while allowing clients to realize a net benefit in streamlined processing and cost containment, said DataVerify president Brad Bogel.

“Our clients come to us not only for the services we provide but for the relationships and access to other vendors we have within the mortgage industry,” he said. “Loan originators and resellers – and especially those originating and servicing loans for condominiums and other multi-family properties – face a barrage of required documentation that can stress both patience and resources. Our clients may benefit from services offered by CondoTek.”

CondoPak offers nationwide and industrywide coverage, provides easy order tracking, monitoring and scans for red flags (litigation, flood zone, insufficient reserves, insurance questions). It offers transparency to borrowers and works seamlessly with all investor review types as well as the following benefits:

• Includes Certified Questionnaire, governing documents, budget, certification of insurance and other documents as needed
• Features flat-rate pricing and streamlines pass-through pricing to borrowers
• Provides LOS access through Encompass^®, Meridianlink^® and LendingQB^®
• Features fast turn times (3-5 days)
• Provides robust after-sale support
• Includes a QA/QC screening process for consistency and completion

“We have the technology, data, expertise, focus, and quality output that simplify the review process for your staff,” said CondoTek Operations Management & Business Development Director Lisa Geloso. “Our CondoPak assists your team in powering through and expediting condo warrants. With mortgage volume at unprecedented levels, CondoTek is a 'fast pass' for your project underwriting needs.”

About DataVerify

DataVerify is a premier provider of workflow solutions, risk mitigation, and data validation solutions for the mortgage industry. DataVerify harnesses advanced analytics and technology to create automated and configurable workflow solutions. Our highly responsive platform empowers lenders through an engine that helps to identify and measure potential threats such as data integrity errors and misrepresentations, identity theft, and property and application risk. Engineered to offer optimal flexibility, the DataVerify platform (which incorporates 4506, SSA, and employment and income verification) allows lenders to manage risks according to their institution’s tolerance level.

About CondoTek

CondoTek is a technology and information firm that provides lender-focused real estate-related products and services in the condominium space. With an emphasis on creating efficiency for lenders when underwriting condominium loans, CondoTek’s products and services are the perfect solutions for small, mid-sized and large lenders.