Informative Research (IR) Waterfall

Overview

The Informative Research (IR) Waterfall feature automates the process of running Verification of Employment and Income (VOE/VOI) with multiple vendors. Companies and LO Teams can create Waterfall Priority Lists with IR’s platform, so the system can automatically run VOE/VOI with different vendors until a successful result is reached. With this feature, you no longer have to manually try each VOI/VOE vendor to realize cost savings and won’t have to leave Floify to run the waterfall. 

 

This integration does require a subscription at our Enterprise level. If you have questions regarding our Enterprise plans, please contact our sales department at  or 720.316.8343. An account with Informative Research is also required. 

 

How to Set Up and Use

Prior to installing in Floify, you will need to set up your Waterfall account with Informative Research. These steps all need to be performed between directly with Informative Research.

    1. A contract with Informative Research is required
    2.  Verification Waterfall with valid VW setups must be enabled in IR
      • This is managed by your IR Account Manager
    3. Informative Research will issue credentials for implementation.
      • IR can provide test credentials for any testing environments

To perform these steps, they can be contacted at service@informativeresearch.com.

 

Once the above have been confirmed, this integration can be set up at either the company level or team level. If no team credentials are set, then the company credentials will be used for orders. If company credentials exist and there are team level credentials set, then the team credentials will be used for orders. 

 

Company-Level Installation

Navigate to the Company Dashboard. From here, go to Company Settings

 

 

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Go to Integrations and locate the Informative Research Waterfall section

 

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To install the company-level integration with credentials, select Enable IR Verification for all Teams at Floify Disclosures.  

 

 

Screenshot 2023-09-22 at 4.02.09 PM.png

 

 

Enter credentials provided by IR and press Install Integration.

 

 

Screenshot 2023-09-22 at 4.03.25 PM.png

 

 

Installation is now complete. Team level and Company level credentials can be used with this setup.

 

 

Team-Level Only Installation

To install at the team level only, in the same place in Company Settings, select the option to Require Teams to use their own IR account credentials to enable and select Install Integration.

 

 

Screenshot 2023-09-22 at 4.02.45 PM.png

 

 

 

Once completed, your teams will need to input their own credentials. If the other option is selected, they will still have the option, too.

 

 

Team-Level Setup

Navigate to the Team Settings

 

 

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Go to Integrations settings

 

 

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Locate the Informative Research Waterfall Integration section and press Edit IR Verification Waterfall Integration

 

 

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Select the option to Use your own Informative Research account credentials, enter your credentials, and press Save.

 

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Note that the Company-Level integration can be selected for use only if that option is enabled at the company level

 

Using the Integration

Click into a loan flow

 

 

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Select Add New Doc 

 

 

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Select Verification Waterfall

 

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From here, you will see the modal for placing the order

 

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The first step to place the order will be to edit the information by selecting the Edit button

 

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A modal will pop up. Enter all borrower details and press Save. 

IR Waterfall needs the following information:

    1. Legal Name
    2. Current Addresses
    3. Date of birth
    4. SSN

 

 

Screenshot 2023-09-22 at 4.31.17 PM.png

 

 

Select the IR Waterfall workflow from the drop down. The specific workflows vary depending on your account settings in the IR system

 

 

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Press the button to Place Order with Informative Research once your parameters have been set and you will be taken back to the loan where you can view the document and the history for the verifications that are completed

 

 

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In the case that the Waterfall is pending with Truv, one of the options available through IR, the documents will be in docs owed until the borrower confirms their payroll provider through an email sent from Informative Research. Once the borrower confirms their provider, the Waterfall processing finishes and the documents will be moved from docs owed to pending docs. Truv is the only provider as of right now to also send a W2.

 

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