Fannie Mae recently approved Origence’s mortgage lending platform to become part of its Day 1 Certainty program.
Origence, which provides lending technology and solutions to the financial services industry, designed its platform to automate the verification of a borrower’s identity, employment, income and assets, according to a press release. In doing so, it enables lenders to achieve Day 1 Certainty from Fannie Mae and accelerate the borrower's experience and closing loans faster.
Fannie Mae’s Day 1 Certainty initiative is designed to provide lenders with enhanced loan origination controls, improved processes and certainty around the borrower's assets, income and employment information, in addition to relief from representations and warranties on validated loan components.
Designed from the ground up to help lenders embrace digital mortgages, the Origence platform is a ground-breaking, end-to-end system that combines powerful point-of-sale and loan origination system tools that accelerate a lender's loan production and reduce process cycle time, while significantly reducing costs. The Origence platform was officially launched in October and has several key lenders already using the system.
“The ability to achieve Day 1 Certainty is a crucial advantage for lenders who must meet new consumer expectations for a faster, simpler mortgage experience,” Origence President and Chief Product Officer Roger Hull said in a press release.
“Our approval for Day 1 certification Certainty ensures our clients will be able to deliver faster responses to borrowers, while eliminating an enormous amount of manual effort behind the scenes. At the same time, they get a state-of-the-art platform that maximizes automation, so they can close loans faster and at a lower cost,” Hull added.
The company described its platform as the newest in the marketplace. It is designed to enable lenders to streamline the mortgage process, improve efficiency, increase sales opportunities and deliver a better customer experience. The platform was designed to be highly automated, scalable and configurable to meet the evolving needs of any mortgage organization.
The Origence platform includes tools that automate the borrower’s application process and overall lending journey as well as point-of-sale and fulfilment tools that empower lenders to reduce friction in the mortgage process, the release states. The platform is also equipped with an open application programming interface (API) and microservices architecture for smoother integrations with third-party technologies and services, in addition to best-in-class marketing automation tools that empower lenders to increase sales opportunities and pull-through rates.