# Unlock Efficiency in Mortgage Lending
source: https://developer.mastercard.com/blog/mortgage-lending/index.md

Authors: Layton Checketts, Michael Goyne. Meet the game-changer Mortgage lending has traditionally been a complex and time-consuming process, often fraught with inefficiencies and high costs. Borrowers typically face lengthy approval times, extensive paperwork, and uncertainty about their loan status. However, Mastercard's Mortgage Verification Service (MVS), powered by Finicity, a Mastercard company, is transforming this landscape making mortgage lending better, safer, and faster. By leveraging real-time financial data and advanced analytics, MVS provides lenders with the tools they need to make more informed and confident lending decisions, ultimately enhancing the borrower experience and expanding access to home loans. Discover what makes the MVS use case different Mastercard's MVS is designed to streamline the mortgage lending process by providing lenders with comprehensive and up-to-date financial data about borrowers. This service integrates seamlessly into lenders' workflows, allowing them to verify assets, income, and employment information efficiently. If you'd like to learn more, click here to view the demo. Understand the key benefits of MVS: Increased Efficiency: MVS reduces the time and resources needed to assess a borrower's financial situation, speeding up the loan approval process. Cost Reduction: By automating the verification process, lenders can significantly cut down on operational costs. Enhanced Decision-Making: Access to detailed financial data enables lenders to make more confident lending decisions. Read a case study: Intercoastal Mortgage Intercoastal Mortgage has a simple mission---to provide a seamless customer experience with the least hassle when customers apply for a mortgage. To make life easier for customers buying a home, Intercoastal decided to refresh their mortgage application process by creating a seamless, digital customer experience using Mastercard's Open Finance MVS solution1. The result? Now, Intercoastal offers customers a streamlined application process, approves and closes a mortgage loan within a week or two, as opposed to the industry standard of about 45 days. Access the full success story here. See how Open Finance Improved the Traditional Lending Experience Open Finance is a game-changer for the mortgage industry because it provides unprecedented access to real-time financial data. This shift enhances transparency, personalizes solutions, and streamlines processes, ultimately benefiting both lenders and borrowers. Know the advantages of Open Finance in Mortgage Lending: Financial Inclusion: Open Finance allows lenders to assess the creditworthiness of individuals with non-traditional income sources, such as freelancers and gig economy workers Real-Time Data Integration: Lenders can access up-to-date transaction histories, account balances, and income data, ensuring accurate and timely assessments Improved Customer Experience: The efficiency and transparency of Open Finance reduces anxiety for borrowers, positioning lenders as reliable partners in the home-buying process Enhanced Process Efficiency: By automating verification processes, lenders can reduce overheads and improve the speed of identity confirmation and customer onboarding Take action View the full use case to learn more about MVS There's no question that Mastercard's Mortgage Verification Service, powered by Finicity, a Mastercard company, is transforming the mortgage lending industry. By leveraging comprehensive financial data and real-time insights, lenders can offer more competitive and customer-centric mortgage products, ultimately enhancing the overall lending experience. This innovative approach not only improves efficiency and reduces costs but also promotes financial inclusion, making homeownership accessible to a broader range of individuals. As the mortgage industry continues to evolve, Mastercard's MVS stands out as a powerful tool for lenders looking to stay ahead of the curve and provide exceptional service to their borrowers. If you're ready to get started with Mortgage Lending, check out the full use case page here.