Author Archives: Brimma Tech Inc.

Brimma Tech Unveils Advanced AUS Sandbox Solution for Enhanced Mortgage Underwriting

WAKE FOREST, N.C., Sept. 26, 2024 (SEND2PRESS NEWSWIRE) — Brimma Tech, a pioneering software development company specializing in AI-driven solutions for the mortgage industry, proudly announces the latest release of its Vallia AUS Sandbox. This innovative tool is designed to streamline the mortgage underwriting process, offering simultaneous risk and eligibility assessment capabilities with both Fannie Mae’s Desktop Underwriter® (DU®) and Freddie Mac’s Loan Product Advisor® (LPA℠).

Brimma Tech Inc
Image caption: Brimma Tech.

The Vallia AUS Sandbox provides lenders with comprehensive risk and eligibility assessments, enabling them to make more informed decisions about loan approvals. By integrating the capabilities of DU and LPA, the Vallia AUS Sandbox allows for a more efficient underwriting process, potentially reducing the time and costs associated with mortgage origination.

Key Features of Vallia AUS Sandbox:

  • Dual AUS Submission: Lenders can simultaneously submit to both DU and LPA, ensuring thorough risk evaluation.
  • Scenario Creation and Comparison: Loan scenarios can be quickly and easily developed and assessed against the AUSs to ensure their viability. Once created, scenarios can be compared to ensure the best option is selected for the borrower.
  • Automated Updates: Integration with Loan Origination Systems (LOS) ensures that all updates, findings, and recommendations are seamlessly incorporated into existing workflows.
  • User-Friendly Interface: Designed with loan officers and underwriters in mind, the Vallia AUS Sandbox simplifies the submission process with intuitive navigation and clear prompts.

Fannie Mae Integration

The Vallia AUS Sandbox is now integrated with Fannie Mae’s DU automated underwriting system, reinforcing its reliability and effectiveness in the field.

“Integrating with technology service providers can help advance a faster and more seamless loan origination process,” said Peter Skarnulis, Fannie Mae’s VP of Single-Family Digital Management Solutions, “one that creates a better experience for consumers and lenders alike and is part of our continued focus on delivering value through the products and services that we offer.”

Mario DiBenedetto, President of Brimma Tech, commented:
“The Vallia AUS Sandbox is a game-changer for the mortgage industry. By enabling users to develop multiple loan scenarios and simultaneously submit them to both DU and LPA, we are providing lenders with a powerful tool to enhance their underwriting processes, reduce costs, and improve efficiency. This reflects Brimma’s commitment to delivering innovative solutions that address the real needs of mortgage professionals.”

About Brimma Tech

Founded in 2016, Brimma Tech has been at the forefront of delivering AI-driven solutions that modernize and optimize the mortgage lending process. With a focus on deep domain expertise and scalable enterprise-grade solutions, Brimma Tech serves a growing list of satisfied clients by addressing key challenges in mortgage origination and compliance.

For more information about Brimma Tech and the Vallia AUS Sandbox, please visit https://www.brimmatech.com/ or contact media relations at media@brimmatech.com.

NEWS SOURCE: Brimma Tech Inc.


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FormFree and Brimma Tech announce partnership to expedite matching of prospective homebuyers with best-fit loan products and lenders

RALEIGH, N.C. /ScoopCloud/ -- Mortgage software development and solutions firm Brimma Tech (Brimma) today announced a strategic collaboration with ability-to-pay fintech FormFree®. The integration of Brimma's AI-enabled chatbot service into FormFree's Passport® mobile app will make it possible for prospective homebuyers to find their ideal loan product from the convenience of their mobile device, without the need to first complete a detailed loan application.

Passport gives consumers one place to manage their complete Financial DNA® - including assets, employment, income, public records, credit score and rent payment history - and makes it easy to securely share this information with lenders when shopping for a mortgage loan or other financial service.

Founded in 2016, Brimma is a sanctioned Solution Provider Partner for ICE Mortgage Technology® that helps mortgage lenders optimize their investments in technology through bespoke business optimization solutions. Brimma's Vallia Chat bridges the gap between the information in a lender's loan origination system (LOS) and the people who need it by allowing loan officers and consumers to ask questions and get answers in plain English.

"We're thrilled to partner with Brimma Tech to enhance our Passport mobile app with conversational interactions that expedite the matching of prospective homebuyers with best-fit loan products and the lenders that provide them," said FormFree Founder and CEO Brent Chandler, who will join Brimma's advisory board as part of the deal. "Together, we can provide consumers and lenders with even more accurate and timely data to make informed lending decisions."

Said Brimma CEO Supree Periasamy, "We are excited to join forces with Brent and his team to combine FormFree's industry-leading ability-to-pay analytics with Vallia Chat's comprehensive understanding of loan underwriting guidelines and sophisticated parsing of borrower interactions. We also welcome Brent to our advisory board, where his experience will be invaluable as we continue to innovate and enhance our offerings in the financial technology space."

About Brimma Tech:

Brimma Tech is a software development company that specializes in building innovative software products, including enterprise software, web applications, and mobile apps. The company's global team of developers and engineers have expertise in a wide range of technologies, including artificial intelligence and machine learning. Brimma Tech works with clients across industries to leverage its broad solution catalog as well as to develop custom software solutions that meet their unique needs. Learn more: https://brimmatech.com/.

About FormFree®:

FormFree helps lenders understand credit risk like never before with its patented Passport® product, which opens doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®), and patent-pending Residual Knowledge Income Index™ (RIKI™), an innovative method for evaluating consumer creditworthiness based on residual income analysis. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Twitter: @FollowBrimma @RealFormFree

RELATED LINKS:

https://vallia.brimmatech.com/

https://www.formfree.com/passport/

News from Brimma Tech Inc.

Mortgage software development and solutions firm Brimma Tech (Brimma) today announced a strategic collaboration with ability-to-pay fintech FormFree®. The integration of Brimma's AI-enabled chatbot service into FormFree's Passport® mobile app will make it possible for prospective homebuyers to find their ideal loan product from the convenience of their mobile device, without the need to first complete a detailed loan application.

Related link: https://brimmatech.com/

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