INTEGRA Software Systems recently announced collaboration with New Penn Financial and Freddie Mac to launch a new solution to allow for one-click submissions of loan data to Loan Product Advisor, the automated underwriting system (AUS) for the government sponsored enterprises (GSE).
The solution is designed to provide a seamless integration to help New Penn increase efficiency and maximize secondary market execution by allowing data to be simultaneously submitted to both GSEs at the point of sale, according to a press release.
“Our collaboration with New Penn and Freddie Mac will increase productivity, improve accuracy in the loan decisioning and underwriting process and reduce the overall origination cycle time,” INTEGRA Senior Vice President of Operations said Rick Allen said in the release. “The seamless integration between our systems will allow for more efficiency, including configuration to identify loans eligible for data validation for income, assets and collateral so New Penn can identify the loan that is most favorable to the borrower.”
INTEGRA’s web-based Epic solution allows lenders to submit loan-data via a single click to both Freddie Mac and Fannie Mae’s AUSs, enabling lenders to see the full view of options available to their borrowers and ultimately leading to an improved borrower experience. The Epic solution provides real-time data information which improves lender efficiency while streamlining the residential real estate transaction.
“We are always looking for technology that provides our team with tools to better serve our customers,” New Penn Financial Chief Fulfillment Officer Dena Kwaschyn said. “With results from both GSE AUSs, we can give borrowers access to more options, like appraisal waivers, so they can save money and shorten the time it takes to close a loan.”
“AUS-Neutral Design (#AND) is an innovative movement supporting the idea that lenders should run both underwriting systems to identify the best path for their borrowers and, in many instances, the optimal processing path for themselves. It is a win for everyone and we’re happy to support this positive change in the industry,” Freddie Mac Single-Family Business Vice President of Strategic Technology Integration David Fulford said.