Lodasoft says it is now offering single-click submissions of loan data to both Freddie Mac’s and Fannie Mae’s automated underwriting systems (AUS), delivering greater transactional ease and operational efficiency.
Mortgage lenders leveraging Lodasoft will now have the ability to run an application through both systems, with a single click, to quickly identify the best option for the borrower up front. Additionally, the dual-AUS submission and review process will allow lenders to maximize loan fungibility in the secondary market and improve loan quality through automation.
“We’re excited to see Lodasoft build out dual-AUS submission integration that makes it easier for our shared clients to implement capabilities like Loan Product Advisor asset and income modeler and automated collateral evaluation,” says Freddie Mac’s David Fulford. “These solutions help lenders who have committed significant investment provide borrowers with an even better end-to-end digital experience.”
The single-click dual AUS system not only save money by identifying the best product for the borrower as early as possible but can also reduce loan cycle times by days or even weeks, the company says.
“By submitting loan data via a single click to both Freddie Mac and Fannie Mae, lenders can see the full view of options available to their borrowers and ultimately deliver an improved experience,” says Adam Batayeh, president of Lodasoft. “This also helps save money and allows lenders to close loans faster.”
Photo: Adam Batayeh