In The NewsIntegration

Integration Provides Digital Multi-Language Resources To Multi-lingual Borrowers

Talk’uments, a digital language and limited English proficiency (LEP) technology provider, announced an integration with nCino, Inc. (NASDAQ: NCNO), a provider of cloud banking for the global financial services industry, that offers multi-language resources to users of nCino’s Mortgage Suite, an end-to-end digital mortgage solution that provides borrowers a seamless, single login experience from home search to the final closing. This is Talk’uments’ first integration into a POS solution in the financial services industry.

Mortgage lenders using nCino will now be able to offer their LEP loan applicants additional transactional clarity during the mortgage application process, a longstanding challenge in the industry. A Savanta Research study1 found that only one in five homebuyers understand all the documents they are required to sign at closing and the Consumer Financial Protection Bureau2 estimates that more than 26 million people in the United States have limited proficiency of English. By deploying Talk’uments functionality, users of nCino will now be able to make use of critical mortgage resources and educational materials in multiple languages including Spanish, Vietnamese, Korean, Mandarin, among others.

LEP borrowers face unique challenges learning about and accessing financial products. The integration between nCino and Talk’uments can help lenders address the ever-evolving requirements pertaining to LEP borrowers, and further enables these borrowers to better understand key mortgage-related terminology and documentation. LEP borrowers using nCino’s Mortgage Suite can now access dual language explanatory information relating to a Loan Estimate, Closing Disclosures, and booklets such as Your Home Loan Toolkit, the Consumer Handbook on Adjustable-Rate Mortgages and the Home Equity Line of Credit booklet.

nCino’s Mortgage Suite helps financial institutions capture more leads, streamline the customer journey, enhance stakeholder collaboration and execute origination and closing processes with improved efficiency. The integration with Talk’uments expands on nCino’s native support for Spanish-language purchase and refinance loans.

“At nCino, we want to make it better and easier for borrowers and lenders to work together,” said Ben Miller, Executive Vice President of U.S. Mortgage for nCino. “We are proud to continue pioneering transformation in the financial services industry with the addition of Talk’uments to our Mortgage Solution, using multilanguage tools to help our customers and their applicants understand, access and trust the process and overcome a key challenge in buying a home.”

“We anticipate the mortgage origination market will soon begin to rebound, but it will likely remain highly competitive, especially with regard to purchase loans, for some time,” said George Baker, CEO and Founder of Talk’uments. “Lenders are already moving quickly to better understand and market to a number of emerging markets, including LEP borrowers, but it all starts with staying compliant and offering products in the terms and language potential customers can easily understand.”