Tag Archives: Freddie Mac

Friday Harbor’s AI pre-underwriting platform integrates to the Freddie Mac Income Calculator API

Lenders can now calculate qualifying income for wage earners with variable income more efficiently

SEATTLE, Wash., Sept. 10, 2026 (SEND2PRESS NEWSWIRE) — Friday Harbor, an AI pre-underwriting platform that helps loan officers assemble complete and compliant loan files in real time, today announced its integration to the Freddie Mac Income Calculator API. Lenders can now determine calculated monthly income for wage earners, including borrowers with variable income, in minutes while helping preserve eligibility for certain representation and warranty (R&W) relief tied to the income calculation.

Image caption: Friday Harbor.

The Friday Harbor product, which automatically digitizes borrower paystubs and W-2s from loan origination system (LOS) integrations or direct upload, generates and updates loan conditions as new documents are added and attaches them to the loan file through its dynamic needs list and Income & Asset Sandbox. Using the digitized borrower paystub and W-2 data, Freddie Mac’s Income Calculator API determines a calculated monthly income while Friday Harbor flags potential issues and provides findings tied to Freddie Mac Single-Family Seller/Servicer Guide requirements. The Freddie Mac Income Calculator Certificate is retained with the loan file to help preserve eligibility for applicable R&W relief.

“Having the Freddie Mac Income Calculator available inside Friday Harbor changes the conversation with borrowers,” said Rob Jewett, chief operating officer at NewFed Mortgage Corp. “We can give borrowers a straight answer sooner, keep files moving and avoid surprises later in the process.”

“Variable wage income remains one of the more complicated income scenarios loan production teams face,” said Theo Ellis, CEO and Founder of Friday Harbor. “We’re proud to bring the new Freddie Mac Income Calculator API to pre-underwriting, giving originators reliable qualifying income calculations earlier in the origination process. That means fewer surprises later, cleaner files for underwriting and greater confidence that loans are ready for sale.”

The Freddie Mac Income Calculator API uses borrower paystubs and W-2s to determine calculated monthly income for wage-earning borrowers, including borrowers with variable income. The resulting income calculation can be submitted through Loan Product Advisor® (LPA®), Freddie Mac’s automated underwriting system (AUS), to support eligibility for R&W relief related to the income calculation.

Friday Harbor now supports automated calculated monthly income assessments for loans delivered to both Freddie Mac and Fannie Mae. Lenders can learn more about Friday Harbor’s integrations or request a demo at https://fridayharbor.ai.

About Friday Harbor

Friday Harbor is an AI pre-underwriting platform that helps lenders identify and resolve potential issues earlier in the origination process. By analyzing borrower documents, appraisals and income calculations against investor guidelines and lender overlays, the platform helps teams deliver cleaner files, achieve fewer underwriting touches and improve individual productivity. For more information, visit https://fridayharbor.ai/.

Tags: #mortgagetech #AI #fintech @FreddieMac

NEWS SOURCE: Friday Harbor

This press release was issued on behalf of the news source (Friday Harbor), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/friday-harbors-ai-pre-underwriting-platform-integrates-to-the-freddie-mac-income-calculator-api/

Class Valuation verified by Fannie Mae and Freddie Mac to support new Uniform Property Data Report specification

Leading appraisal management company verified to support next-generation property data report standard

TROY, Mich., July 9, 2026 (SEND2PRESS NEWSWIRE) — Class Valuation, a leading real estate appraisal management company (AMC), has been verified by Fannie Mae® and Freddie Mac (the government-sponsored enterprises, or GSEs) to support the Uniform Property Data Report (UPDR) specification under Uniform Property Dataset (UPD) Version 1.0. Use of the UPDR is mandatory for mortgages with applications received on or after June 30, 2026.

Class Valuation logo.

The UPDR is a standardized report template introduced jointly by the GSEs as part of the Uniform Mortgage Data Program (UMDP) to bring greater efficiency and consistency to the underwriting and review process. The GSEs developed the report in direct response to industry feedback about the challenges of working with varying property data output formats. The standardized format is designed to streamline review processes, simplify training across the industry and enable automated data validation while delivering a cleaner, more consistent data delivery mechanism for underwriters and operations teams.

Class Valuation has provided property data collection services to clients delivering loans to the GSEs for more than 16 years. This verification reflects the company’s ongoing commitment to meeting evolving GSE requirements and positions its clients for a smooth transition to the new standardized report format.

“This verification reflects our team’s ongoing commitment to staying ahead of industry modernization rather than catching up to it,” said Chris Flynn, chief operating officer of Class Valuation. “As property data collection continues to evolve and UAD 3.6 approaches, the industry can count on Class Valuation to be ready with solutions that meet Fannie Mae and Freddie Mac’s new data standards and help clients move forward with confidence.”

ABOUT CLASS VALUATION:

Class Valuation is a leading nationwide appraisal management company (AMC) renowned for its commitment to fast turn times, exceptional quality and unparalleled client service. The company leverages a powerful combination of skilled professionals, innovative products, optimized processes and advanced technology to empower lenders in fulfilling homeownership dreams. Consistently recognized by top mortgage lenders for its outstanding performance, Class Valuation has also earned accolades as a top workplace and received numerous industry awards. Founded in 2009, Class Valuation is headquartered in Troy, Michigan. For more information, please visit https://www.classvaluation.com.

X: @ClassValuation #appraisal #valuation #lending

NEWS SOURCE: Class Valuation

This press release was issued on behalf of the news source (Class Valuation), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/class-valuation-verified-by-fannie-mae-and-freddie-mac-to-support-new-uniform-property-data-report-specification/

Vice Capital Markets Now Supports New Freddie Mac Cash-Specified Payup Types for 30-Year Fixed-Rate Mortgages

NOVI, Mich., April 6, 2026 (SEND2PRESS NEWSWIRE) — Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today that two new Freddie Mac Cash-Specified Payup Types (CSPTs) for 30-year fixed-rate mortgages are now available through Vice Capital for both mandatory and best-efforts executions. The new payup types became effective in production on April 6, 2026.

Image caption: Vice Capital Markets.

The new Cash-Specified Payup Types apply to 30-year fixed-rate mortgages in two maximum low loan balance (LLB) categories: loans with balances of $425,000 or less and $450,000 or less. With this update, Vice Capital clients can now incorporate the new CSPTs into their secondary marketing execution workflows as they evaluate pricing and commit eligible loans to Freddie Mac.

“Speed to market matters in secondary, especially when new execution options become available,” said Shawn Ansley, Chief Information Officer at Vice Capital Markets. “Our priority is to ensure clients can take advantage of investor and agency updates the moment they become available. By supporting these new Freddie Mac Cash-Specified Payup Types at launch, we’re enabling lenders to respond quickly to market changes and immediately incorporate new execution opportunities into their decision-making.”

As a long-standing Freddie Mac Secondary Market Advisor, Vice Capital continues to expand and enhance its execution capabilities, helping lenders navigate agency pricing, commitments and delivery strategies with greater efficiency and confidence. For more information, visit www.vicecapitalmarkets.com.

About Vice Capital Markets

Since 2001, Vice Capital Markets has expertly navigated interest rate risk and driven profitability on over $1 trillion in MBS trades and mortgage-related transactions for a diverse range of financial institutions. Utilizing proprietary risk-management models and an advanced investor and agency platform, Vice Capital has enabled clients to enhance their secondary market strategies and achieve optimal sales gains.

The company’s Vice Execution Portal™ (ViceEx) is an all-inclusive, whole-loan trading platform that enables lenders and secondary market managers to seamlessly send and receive aggregator bulk bids, compare agency executions with customizable retained or co-issue servicing values while guaranteeing the best execution that might otherwise be missed in a manual process.

With traders averaging over a decade of experience, Vice Capital brings the expertise necessary to tackle market challenges and consistently deliver secure and effective profit growth for its clients. For further information, visit www.vicecapitalmarkets.com or call (248) 869-8100.

LOGO Link for media: https://vicecapitalmarkets.com/wp-content/uploads/2020/05/VCMlogo.png

NEWS SOURCE: Vice Capital Markets

This press release was issued on behalf of the news source (Vice Capital Markets), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/vice-capital-markets-now-supports-new-freddie-mac-cash-specified-payup-types-for-30-year-fixed-rate-mortgages/

Argyle expands income verification with AIM Check integrated Doc VOI

Automated, document-based income analysis streamlines verification waterfalls-cutting costs and helping lenders determine eligibility for Freddie Mac representation and warranty relief related to income calculation

NEW YORK CITY, N.Y., Oct. 14, 2025 (SEND2PRESS NEWSWIRE) — Argyle, the leading provider of direct-source income, employment and asset verifications, today announced the launch of Doc VOI, a new paystub and W-2 based income verification report integrated with Freddie Mac’s AIM Check API. Lenders are cutting costs and gaining fast, automated income verifications from uploaded paystubs and W-2s when direct payroll or banking connections are not available. The launch also helps mortgage lenders unlock rep and warrant (R&W) relief from Freddie Mac on income calculations derived from documents.

Image caption: Argyle.

Argyle can retrieve paystubs and W-2s directly from the eFolder within ICE Mortgage Technology’s Encompass® loan origination system and through the Argyle API for lenders with proprietary systems. Doc VOI then uses optical character recognition (OCR) technology to extract key income data and submits that data to Freddie Mac’s Loan Product Advisor® (LPA®) AIM Check for assessment. Within minutes, Argyle returns the automated income assessment results in a clear, structured report delivered directly into the LOS. Doc VOI provides visibility into an applicant’s AIM-eligible income earlier in the loan origination process without waiting for a full LPA submission or resorting to traditional manual reviews.

Key benefits of Argyle’s Doc VOI include:

Reduced cost by minimizing reliance on legacy providers: Lenders can shift away from expensive, static database solutions and instead access more timely, dynamic income data.
R&W relief eligibility on more loans: By enabling document-based verifications that would otherwise be handled manually, Doc VOI increases the share of loans assessed by LPA for eligibility of R&W relief.
Faster loan decisions through higher-quality data: Early income assessments accelerate underwriting by equipping lenders with verified income data sooner in the process while supporting cleaner automated underwriting system (AUS) submissions.
Improved operational efficiency: Automating document-based income analysis reduces manual reviews, freeing up teams to focus on higher-value activities.

“Working with Argyle has helped us streamline verifications for both our team and our borrowers. Including Doc VOI in our verification process gives us confidence that we can quickly qualify borrowers using documents when needed. This flexibility ensures a smooth borrower experience and supports timely processing,” said Cindy Keith, chief strategy officer at NFM Lending.

“Argyle’s Doc VOI integrated with Freddie Mac’s AIM Check enables mortgage lenders to maximize their verification waterfall,” said Brian Geary, COO of Argyle. “By combining payroll, banking and docs, Argyle enables customers to run their entire waterfall through one provider, driving more qualifications, less manual work, and higher conversion.”

Doc VOI complements Argyle’s direct-source payroll and banking verification solutions (VOIE, VOE, VOA), which are also integrated with Freddie Mac’s Loan Product Advisor AIM as well as with Fannie Mae’s Desktop Underwriter® validation service, a component of Day 1 Certainty®. Together, these capabilities provide comprehensive coverage across applicant profiles, giving providers more tools to meet GSE eligibility requirements and improve the applicant experience.

To learn more about Argyle’s verification platform, including Doc VOI, VOIE, and VOA, visit https://argyle.com or contact sales@argyle.com.

ICE APIs enable the integration of key third-party products and services with ICE mortgage technology solutions. ICE does not own, control, nor endorse any specific industry participant or the product/service provided. Loan originators and servicers are responsible for vetting, selecting, and contracting with the providers of their choosing.

About Argyle:

Argyle is the leading provider of direct-source, consumer-permissioned income, employment and asset verifications, making it fast and easy to gain secure and reliable access to the most complete real-time datasets stored in consumers’ payroll and bank accounts. With Argyle, lenders automate verification workflows to save time, reduce fraud and compliance risks, lower costs and build better product experiences. As an authorized report supplier for Fannie Mae’s Desktop Underwriter® validation service and an approved service provider supporting Freddie Mac’s Loan Product Advisor® asset and income modeler (AIM), Argyle empowers mortgage lenders to auto-retrieve paystubs and W-2s, understand consumers’ ability to pay and improve loan quality—all at up to 80% less cost. Named one of America’s Best Startup Employers of 2025 by Forbes, Argyle serves the mortgage, personal lending, tenant screening, government benefits and background check industries as well as the gig economy.

Providers can explore Argyle’s verification platform, including Doc VOI, VOIE and VOA, at argyle.com to schedule a demo.

Tags: @withArgyle #fintech #digitalmortgage

NEWS SOURCE: Argyle

This press release was issued on behalf of the news source (Argyle), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/argyle-expands-income-verification-with-aim-check-integrated-doc-voi/

Dark Matter Technologies achieves UCDP integration, driving appraisal innovation

New integration enables appraisal report submission to the GSEs with enhanced data fields, ZIP file support and modernized infrastructure

JACKSONVILLE, Fla., July 1, 2025 (SEND2PRESS NEWSWIRE) — Dark Matter Technologies (Dark Matter®), an innovative leader in mortgage technology, today announced it has established an integration with Uniform Collateral Data Portal® (UCDP®), a single portal jointly maintained by Fannie Mae and Freddie Mac (the GSEs). This expansion positions Dark Matter as an early adopter of the technology needed to support the Uniform Appraisal Dataset (UAD) 3.6 and Forms Redesign initiative.

Image caption: Dark Matter Technologies logo.

The new integration enables submission of appraisal report data to the GSEs via UCDP, supporting lenders in the mandate to adopt new appraisal standards and signaling Dark Matter’s readiness to meet the new initiative well in advance of lenders’ required adoption.

Innovations to work with this effort include both the Empower® and the ExchangeSM Network support for a brand-new appraisal report data file, ZIP file submissions, integrating six new data fields to enhance property detail and a streamlined process for extracting PDF and XML files. These capabilities allow Dark Matter to assist lenders in transitioning to new UAD 3.6, simplifying reporting across any residential property type.

The new UAD 3.6 is available for GSE-approved lenders during the limited production period, which begins September 8, 2025, and is required for all appraisal reports submitted to UCDP on or after November 2, 2026.

“By proactively adapting to these industry-driven updates, Dark Matter is demonstrating its technological leadership and commitment to driving efficiency in the mortgage ecosystem,” said Stephanie Durflinger, chief product officer at Dark Matter. “This achievement helps us better serve our lending partners and opens the door to broader capabilities in digital appraisal delivery.”

About Dark Matter Technologies:

Operating with the nimble nature of a startup and the disciplined maturity of one of the industry’s leading providers, Dark Matter Technologies delivers powerful technology with unparalleled automation and relentless innovation to leading mortgage lenders, servicers and companies nationwide. For more information, visit www.dmatter.com.

Tags: @dmattertech #fintech #mortgage

Logo link for media: https://dmatter.com/wp-content/uploads/dark-matter-tech-logo.svg

NEWS SOURCE: Dark Matter Technologies

This press release was issued on behalf of the news source (Dark Matter Technologies), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/dark-matter-technologies-achieves-ucdp-integration-driving-appraisal-innovation/

Dark Matter Technologies adds side-by-side results comparison and automated, rules-based reviews to dual AUS feature in the Empower LOS

New functionality helps originators quickly compare findings and see more options for borrowers

JACKSONVILLE, Fla., June 10, 2025 (SEND2PRESS NEWSWIRE) — Dark Matter Technologies (Dark Matter®), an innovative leader in mortgage technology, today announced enhancements to the dual automated underwriting system (AUS) submission feature within the Empower® loan origination system (LOS). When users submit loan data simultaneously to the AUS for both Freddie Mac and Fannie Mae (the government-sponsored enterprises, or GSEs), the Empower LOS will now display the GSEs’ respective AUS findings side by side along with rules-based loan recommendations powered by the AIVA® Rules engine.

Image caption: Dark Matter Technologies.

The side-by-side display of AUS findings helps loan originators quickly compare results from the GSEs to identify the most favorable option for each borrower. This can surface opportunities to save money or shorten the loan process. For example, if one GSE’s findings indicate the property qualifies for an appraisal waiver while the other does not, the borrower could potentially save hundreds of dollars in appraisal costs and close several days sooner.

Dual AUS functionality in the Empower LOS is further enhanced by the AIVA Rules engine, which analyzes AUS results and recommends the loan path that best fits the lender’s business rules. The engine comes pre-configured with default logic and can be tailored to align with company-specific policies, helping drive consistency and efficiency in loan production.

“Dark Matter’s approach to innovation is tightly focused on helping lenders curb the runaway time and expense of loan origination while delivering outstanding borrower experiences,” said Sean Dugan, CEO at Dark Matter. “Our enhanced dual AUS functionality within the Empower LOS gives originators timely, actionable insights to help borrowers secure the best loan — all while supporting faster, more efficient production.”

Freddie Mac collaborated with Dark Matter on this initiative. “By supporting dual AUS submission, Dark Matter is helping lenders recommend the best-fit loan for each borrower early in the process,” said Christina Randolph, vice president of distribution at Freddie Mac. This capability helps streamline decision-making and reduce costs while ultimately delivering a smoother, faster experience for borrowers — key outcomes we’re committed to supporting.”

About Dark Matter Technologies:

Tags: @dmattertech @freddiemac @fanniemae #fintech #financialservices #marketing #mortgage

Logo link for media: https://dmatter.com/wp-content/uploads/dark-matter-tech-logo.svg

NEWS SOURCE: Dark Matter Technologies

To view the original story, visit: https://www.send2press.com/wire/dark-matter-technologies-adds-side-by-side-results-comparison-and-automated-rules-based-reviews-to-dual-aus-feature-in-the-empower-los/

Informative Research’s AccountChek expands payroll provider network for mortgage lenders assessing income through Freddie Mac’s AIM

GARDEN GROVE, Calif., Feb. 20, 2025 (SEND2PRESS NEWSWIRE) — Informative Research, a premier technology provider delivering data-driven credit and verification solutions to the lending community, announced an enhancement to its integration with Freddie Mac’s Loan Product Advisor® (LPASM) asset and income modeler (AIM). This enhancement enables LPA to assess income and employment for eligibility of representation and warranty relief for lenders using AccountChek® for automated verification of income and employment (VOIE) across a broad range of supported payroll providers. As an approved third-party service provider, AccountChek enables lenders to obtain and transmit to LPA borrower data required for LPA’s automated assessment of income, assets and employment verification.

Image caption: Informative Research.

“AccountChek’s enhanced integration with AIM represents a major step forward for both mortgage lenders and borrowers,” said Brian Francis, Head of AccountChek at Informative Research. “By expanding payroll provider access, we’re helping lenders reduce risks, enhance loan quality and accelerate loan processing times, all while providing borrowers faster approvals, expanded access to credit and reduced documentation burdens.”

AIM automates the assessment of mortgage borrower assets, income and employment data through designated third-party service providers like AccountChek. Using consumer-permissioned technology to obtain direct-to-source data improves verification accuracy and efficiency, enabling lenders to streamline loan origination workflows, accelerate overall processing time and make better-informed lending decisions faster.

“We’re truly excited about our collaboration with Informative Research and this opportunity to expand access to LPA’s capabilities,” said Daniel Miller, Freddie Mac Single-Family Director of Strategic Technology Partnerships. “Informative Research’s approach to solving industry challenges aligns with Freddie Mac’s efforts to help lenders drive down the cost to originate, elevate loan quality and make homeownership more achievable for all.”

About Informative Research:

Informative Research, a Stewart company, is a premier technology provider delivering data-driven credit and verification solutions to the lending community. The solutions provider currently serves mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://www.informativeresearch.com/.

NEWS SOURCE: Informative Research

This press release was issued on behalf of the news source (Informative Research), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/informative-researchs-accountchek-expands-payroll-provider-network-for-mortgage-lenders-assessing-income-through-freddie-macs-aim/

Click n’ Close’s SmartBuy™ Shared Appreciation Mortgage Program expands to Freddie Mac 30-year conventional loans

Homebuyers can now access 5% down payment assistance without restrictions on first-time purchases

ADDISON, Texas, Feb. 6, 2025 (SEND2PRESS NEWSWIRE) — Click n’ Close (CNC), a multi-state mortgage lender, today announced its SmartBuy™ Shared Appreciation Mortgage (SAM) program now features a 30-year, fixed-rate conventional option approved by Freddie Mac.

Image caption: Click n’ Close, Inc.

“Regardless of what is admittedly a difficult market for buyers, our SmartBuy Shared Appreciation Mortgage tool puts homeownership in reach for people who may not have thought it possible,” said Jeff Bode, owner and CEO of Click n’ Close. “Buyers can increase their financial stability and realize the benefits of what is, for most Americans, the largest investment of a lifetime.”

Launched in April 2024, CNC’s SAM program offers a below-market interest rate for first-lien FHA, USDA and now conventional loans and a repayable DPA second lien in exchange for a portion of the home’s appreciation [*note 1] during the first five years. After the five-year accumulation period, the shared appreciation amount is added to the second lien and amortized over the remaining term. The program has no restrictions on first-time purchases or income levels.

“CNC’s Shared Appreciation Mortgage program (SAM) combines with the DPA SmartBuy program to provide homebuyers with additional flexibility, helping them secure a home with minimal upfront costs while benefiting from shared appreciation in the property’s value over time,” Bode added. “Having a conventional option in addition to FHA and USDA simply helps make homeownership more accessible for a broader range of buyers.”

Industry professionals interested in the SAM program should contact their Click n’ Close wholesale or correspondent account representative.

About Click n’ Close, Inc.:

Click n’ Close, Inc. is a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is also the nation’s leading provider of Section 184 home loans for Native Americans. In operation since 1940, Click n’ Close has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes.

Combining this culture of innovation with a risk management mindset enables Click n’ Close to deliver new products to market that address the challenges facing both borrowers and third-party originators (TPOs). These innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and reverse mortgage division. Its direct relationships with Fannie Mae, Freddie Mac, Ginnie Mae and private investors afford Click n’ Close direct access to the capital markets, thus ensuring maximum liquidity for its product innovations. By servicing its loan programs in-house, Click n’ Close provides its wholesale and correspondent partners with an additional level of certainty regarding loan salability and superior borrower service over the life of the loan.

Learn more at https://www.clicknclose.com/.

NOTES:
*NOTE 1: Shared appreciation amount will vary based on first-lien loan product type.

NEWS SOURCE: Click n' Close Inc.

This press release was issued on behalf of the news source (Click n' Close Inc.), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/click-n-closes-smartbuy-shared-appreciation-mortgage-program-expands-to-freddie-mac-30-year-conventional-loans/

Argyle is now an approved service provider supporting Freddie Mac’s AIM

NEW YORK CITY, N.Y. /ScoopCloud/ -- Argyle, a platform providing real-time income and employment verifications for some of the largest lenders in the United States, is now an approved third-party service provider supporting Freddie Mac's Loan Product Advisor® (LPA℠) asset and income modeler (AIM), a solution that simplifies the mortgage underwriting process for lenders. Argyle's verification of income and employment (VOIE) solution, which includes reports, pay stubs and W-2s, saves lenders 5-7 days per loan and 60-80% in costs compared to legacy VOIE providers.

* GSE-Approved: Argyle is now an approved service provider for Freddie Mac's LPA AIM, in addition to being an authorized report supplier for Fannie Mae's Desktop Underwriter®.

* Cost and Time Savings: Lenders using Argyle for VOIE can save 5-7 days per loan and 60-80% in costs compared to legacy providers.

* Improved Loan Quality: Lenders can now submit their Argyle reference number to LPA for immediate assessment of eligibility for representation and warranty relief.

* Timely Solution: The integration addresses increasing origination costs and helps maintain lender margins.

Effective immediately, lenders using Argyle's verification services will be eligible for automatic assessment of income and employment, including 10-day pre-closing verifications, through AIM. By submitting Argyle's reference number to LPA, lenders can receive an immediate assessment of eligibility for representation and warranty relief for the income calculation and accuracy and integrity of the data.

"Argyle is proud to collaborate with Freddie Mac to offer a comprehensive and efficient industry-leading solution for income and employment verification," said Argyle COO Brian Geary. "By automatically retrieving income data from a borrower's payroll accounts, our platform helps lenders close high-quality loans more quickly while reducing origination costs and improving loan quality. This solution is timely, especially as the industry faces increasing origination costs that erode already razor-thin margins."

"Our latest research shows the cost to originate has increased 35% since 2021. When lenders maximize LPA's digital capabilities like AIM, they can save $1,500 per loan," said Daniel Miller, Freddie Mac Single-Family Director of Strategic Technology Partnerships. "We're excited to welcome Argyle as a service provider supporting AIM, so we can help lenders drive down costs through digital innovation."

For more information about Argyle's integrations with automated underwriting systems (AUS), visit https://www.argyle.com/blog/freddie-mac-aim-provider/.

About Argyle:

Founded in 2018, Argyle is the leading provider of real-time income and employment verifications. As an authorized report supplier for Fannie Mae's Desktop Underwriter® validation service and an approved service provider supporting Freddie Mac's Loan Product Advisor® asset and income modeler (AIM), Argyle empowers mortgage lenders to auto-retrieve paystubs and W-2s, understand consumers' ability to pay and improve loan quality-all at 60-80% less cost. Argyle's commitment to innovation is backed by investors including Bain Capital Ventures, SignalFire, Checkr and Rockefeller Asset Management.

For more information on Argyle's industry-leading platform, please visit https://argyle.com/.

To stay up to date on all Argyle news, sign up for our newsletter here: https://argyle.com/blog/.

Tags: @withArgyle @FreddieMac #fintech #financialservices #innovation #mortgage #mortgagelending

Brand Assets: https://brand.argyle.com/downloads#logo

Argyle, a platform providing real-time income and employment verifications for some of the largest lenders in the United States, is now an approved third-party service provider supporting Freddie Mac's Loan Product Advisor® (LPA℠) asset and income modeler (AIM), a solution that simplifies the mortgage underwriting process for lenders. Argyle's verification of income and employment (VOIE) solution, which includes reports, pay stubs and W-2s, saves lenders 5-7 days per loan and 60-80% in costs compared to legacy VOIE providers.

Related link: https://www.argyle.com/

The Mortgage Collaborative Advocates for Lender Concerns at Federal Housing Agencies During June DC Visits

WASHINGTON, D.C. /ScoopCloud/ -- The Mortgage Collaborative (TMC) hosted its second Advocacy Committee trip to Washington, DC June 4-6, 2024, with 13 of its IMB and depository Lender Members meeting with key federal agencies, including the Consumer Financial Protection Bureau (CFPB), the U.S. Department of Housing and Urban Development (HUD), Ginnie Mae, Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac to discuss the impact of recent and upcoming policy changes on small to mid-size lenders.

Tom Sullivan, SVP, First Commonwealth Bank, speaking on the TMC webcast "Last Week in Mortgage Today," shared insights from his experience in DC: "Being a part of both trips has shown me that repeating similar efforts yields better results. My favorite part was hearing how different regions impact each other. The sincere conversations we had with each agency will influence the industry in a phenomenal way."

At TMC's meeting with the Consumer Financial Protection Bureau (CFPB), TMC Lender Members asked about "junk fees" in response to the recent CFPB shift in focus to monitoring third-party transaction fees including credit bureau fees and appraisals and increases in soft pulls. Loan officer compensation was also discussed with attending lenders requesting greater flexibility in compensation regulations to improve margins on affordable lending products and market competition. The CFPB signaled it is open to solutions, and TMC will draft a follow-up response with member input. TMC also shared concerns about rising credit verification costs and their impact on consumers, with the CFPB committing to further investigation.

At TMC's meeting with HUD, Lender Members talked about Federal Housing Administration (FHA) life of loan mortgage insurance premium (MIP), in follow-up to a recent TMC advocacy letter. Lenders expressed concerns over high APRs and the need for refinancing to remove MIP. HUD reiterated its stance on maintaining current policies but expressed its aims to reduce FHA loan costs. Lenders asked HUD if they were open to expanding FHA guidelines for 100% financing. HUD said they were open to exploring new programs, albeit requiring congressional approval.

TMC discussed repurchases with the FHFA, which promised to investigate the issue. FHFA announced they are creating an advocacy advisory committee in response to advocacy letters and visits like TMC's. FHFA gave feedback on the Bi-merge credit model ensuring lenders do not have to process loans differently for various agencies. FHFA reiterated that the move to bi-merge credit is optional. Homeowners/Flood Insurance costs were also discussed with FHFA pointing to its ongoing efforts to address affordability and replacement costs, particularly in high-cost areas.

During its meeting with Ginnie Mae, TMC Lender Members discussed the impact of rising insurance costs and consumer credit card debt on delinquencies. Ginnie Mae is monitoring the situation and collaborating with other agencies for solutions.

In TMC's respective meetings with Freddie Mac and Fannie Mae, those agencies committed to investigating the increase in appraisal-related repurchase requests and providing tools for appraisal certainty. Additionally, the discussions covered the rollout of the new credit model, with Freddie Mac confirming their preparedness for the transition to bi-merge credit and introduced the upcoming LPA Choice, which will offer clearer feedback on borrower assessments. They indicated that no major changes are anticipated in how their Automated Underwriting System (AUS) will assess credit during this transition. The TMC advocacy contingent also asked about second home pricing, to which Fannie Mae indicated, no new changes are expected for second home pricing variances.

About The Mortgage Collaborative:

The Mortgage Collaborative (TMC) is a membership-driven* organization dedicated to empowering mortgage lenders across the United States through networking, education, and advocacy. Our goal is to support the success of our members by fostering an environment of collaboration and innovation. For more information, visit https://www.mortgagecollaborative.com/

*TMC Lender Members, we want to hear from you! If you have seen an increase in repurchase requests, please send your data to Melissa Langdale so we can forward all feedback to our agency contacts. Your input is highly valued.

The Mortgage Collaborative (TMC) hosted its second Advocacy Committee trip to Washington, DC June 4-6, 2024, with 13 of its IMB and depository Lender Members meeting with key federal agencies, including the Consumer Financial Protection Bureau (CFPB), the U.S. Department of Housing and Urban Development (HUD), Ginnie Mae, Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac to discuss the impact of recent and upcoming policy changes on small to mid-size lenders.

Related link: https://www.mortgagecollaborative.com

Vice Capital Markets Releases Integration with Freddie Mac Income Limits API

NOVI, Mich. /ScoopCloud/ -- Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today it is one of the first Freddie Mac-integrated Secondary Market Advisors (SMAs) to release an integration with Freddie Mac's Income Limits application programming interface (API). The API grants Vice Capital customers easy access to area median income (AMI) information to quickly determine if a loan meets the AMI percentage eligibility criteria for certain Credit Fee Caps.

"Affordability is top of mind for all lenders these days, and our clients are no exception," said Vice Capital President Troy Baars. "With the new integration to Freddie Mac's Income Limits API, Vice Capital allows our shared clients balance the desire to provide home financing options for mortgage-ready low to-moderate income borrowers while still meeting their secondary execution goals."

In late 2022, Freddie Mac announced targeted pricing changes, including eliminating upfront credit fees for certain borrowers and affordable mortgage products with specific limits on the borrower's income as a percentage of AMI. Integration with the Income Limits API empowers Vice Capital's clients to send income information and the property address to easily assess whether the borrower may qualify for the waiver of certain upfront credit fees. The API identifies loan criteria for the following conditions: High-Cost Area, 120% AMI, High Needs Rural Region Indicator and Rural Area Indicator.

Additionally, the API allows clients to access the area median income limit percentage for loans not currently locked in the pipeline by entering the state and zip code. Lenders can then use this information, along with Exhibit 19 Credit Fees and Exhibit 19A Eligibility Criteria for Credit Fee Caps, to determine if the loan may be eligible for a Freddie Mac Credit Fee Cap.

Income Limits is one of several integrated Freddie Mac APIs that Vice Capital leverages to help its clients extract maximum value from their relationship with Freddie Mac. Other integrated Freddie Mac APIs include Cash Purchase Settlement Statement and Cash-Released Xchange®.

"As an advisor to numerous Freddie Mac Seller/Servicers, these APIs make it tremendously easier for organizations like ours to access pricing and execute cash and guarantor commitments on behalf of our clients," Baars added. "Our long-standing SMA relationship with Freddie Mac is a point of pride for us, and we look forward to continuing to work alongside Freddie Mac to find new and innovative ways to meet our shared clients' individual secondary and capital markets needs."

About Vice Capital Markets:

Since 2001, Vice Capital Markets has successfully managed interest rate risk and maximized profitability on MBS trades and mortgage-related transactions for banks, credit unions and mortgage lenders of all sizes. With an average of more than 10 years' experience behind each of the traders on our team, Vice Capital has helped its clients realize, on average, a 25 to 55 bps improvement over their best effort execution, and Vice Capital's proprietary risk-management models and complex investor and agency best execution platform have consistently yielded safe and effective profit maximization for its clients. Learn more at https://www.vicecapitalmarkets.com/ or call (248) 869-8100.

Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today it is one of the first Freddie Mac-integrated Secondary Market Advisors (SMAs) to release an integration with Freddie Mac's Income Limits application programming interface (API).

Related link: https://www.vicecapitalmarkets.com/

MCT First to Integrate with Freddie Mac’s Income Limits API

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, is pleased to announce it is the first secondary marketing platform to integrate with Freddie Mac's Income Limits application programming interface (API) created for the first-time home buyer area median income (AMI) limits. Income Limits allows for the accurate pricing of Credit Fee in Price (Exhibit 19, or "Credit Fees") waivers. This is the latest in a series of successful API integrations between MCT and Freddie Mac, and helps promote both pricing transparency and housing affordability.

The API, a critical technological advancement for AMI-based pricing, allows the connecting party (either a lender or Secondary Markets Advisor (SMA)) to send income information and the property address through the API to return an answer on whether the borrower qualifies for the Credit Fees waiver. The API provides a more accurate confirmation than can be derived with a ZIP code estimation. The Credit Fees waiver is based on borrower income being less than 100% of AMI, and the API can also confirm whether the subject property is in a high-cost county, which allows for 120% of AMI. Other Duty to Serve elements are supported in this API, including rural and high needs rural areas.

"Freddie Mac continues to be incredibly responsive from a service standpoint for lenders and vendors, as well as from a capital markets technology standpoint," said MCT COO, Phil Rasori. "Freddie Mac values relationships and rapid innovation, both of which have become more critical with affordability issues, due to high interest rates and home prices plaguing the mortgage industry despite the robust credit profiles of potential borrowers."

As a refresher, a borrower's annual qualifying income must be less than or equal to 80% of the AMI for the location of the mortgaged premises for the loan to be eligible under Freddie Mac Home Possible®, Freddie Mac's flagship mortgage product. For Freddie Mac Refi PossibleSM mortgages, the borrower's annual qualifying income must be less than or equal to 100% of the AMI for the location of the mortgaged premises for the loan to be eligible. The Federal Housing Finance Agency (FHFA) directive included a key piece on Credit Fees waivers for first-time home buyers in cases where borrower income was less than or equal to 100% of AMI in the subject property census tract or 120% of AMI for high-cost areas.

Previously, price differences and best execution were difficult and tedious to calculate for lenders, as the MSA census tract (which goes within the ZIP code) for the given property address had to be geocoded into the loan file. The AMI API returns eligibility automatically from Freddie Mac's database after the subject property address and borrower income are entered, enabling lenders to accurately price Credit Fees waivers. This API is the latest in a series of enhancements to pricing, benefitting and incentivizing borrowers at a time when affordability in the housing market has waned.

MCT thanks Freddie Mac for bringing the Income Limits API to market in its Developer Portal, enabling MCT to be the first secondary market platform to put this API into production. As the most active user of the API, MCT is happy to offer this technology to clients, allowing for more accurate and transparent pricing which ultimately passes through to the borrower.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Media Contact:

mct@fullyvested.com

RELATED LINKS:

https://guide.freddiemac.com/app/guide/exhibit/19

https://mct-trading.com/software/freddie-mac-integrations-for-mutual-clients/

Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, is pleased to announce it is the first secondary marketing platform to integrate with Freddie Mac's Income Limits application programming interface (API) created for the first-time home buyer area median income (AMI) limits. Income Limits allows for the accurate pricing of Credit Fee in Price (Exhibit 19, or "Credit Fees") waivers.

Related link: https://mct-trading.com/

FormFree’s AccountChek can now be used by mortgage lenders to satisfy Freddie Mac’s assessment of income requirement for loan applicants paid through ADP

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that mortgage lenders can now use AccountChek® to automate income assessment using Freddie Mac Loan Product Advisor® (LPA℠) asset and income modeler (AIM) for borrowers who are paid through ADP.

AIM automates the assessment of borrower income using direct-source employer and payroll service data furnished by a Freddie Mac designated third-party service providers like FormFree. ADP is the first payroll provider eligible for automated verification of income (VOI) through AIM. AccountChek supports this expansion by enabling borrowers to authorize electronic verification of their ADP payroll data.

FormFree is a leading provider of consumer-permissioned verification of asset (VOA) and verification of income and employment (VOI/E) data to the mortgage industry. The company's flagship verification service, AccountChek, enables consumers to verify income and employment with more than 50 payroll providers and 100,000 employers. The company's extensive payroll partnerships enable AccountChek to furnish payroll data and W-2s that meet Freddie Mac selling requirements.

"FormFree applauds Freddie Mac for its continuous innovation that helps lenders execute a simpler, more efficient loan origination process," said FormFree Founder and CEO Brent Chandler. "Giving lenders the ability to automatically assess income dispersed by the world's largest payroll provider will extend the convenience of digital VOI to an expansive cohort of homebuyers. We look forward to supporting Freddie Mac as it adds more payroll providers to AIM."

"Automation of a mortgage applicant's income using payroll provider data has numerous benefits for our clients and their customers - it's really a win all around," said Kevin Kauffman, Single-Family Vice President of Client & Partner Delivery at Freddie Mac. "Our partnership with FormFree is helping our clients reduce costs through process efficiencies, which can lead to savings for their customers, and it also delivers better risk management in all economic cycles."

About FormFree®

As the industry's go-to provider for direct-source VOA and VOI/E data, FormFree helps lenders understand credit risk like never before. Our patented AccountChek® and Passport® products open doors to more inclusive credit decisioning by revealing each customer's true ability to pay (ATP®). We have completed over $3 trillion in loan verifications that help lenders lower operating costs while improving the borrower experience.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® today announced that mortgage lenders can now use AccountChek® to automate income assessment using Freddie Mac Loan Product Advisor® (LPA℠) asset and income modeler (AIM) for borrowers who are paid through ADP.

Related link: https://www.formfree.com/

Vice Capital Markets Releases API for Freddie Mac Cash Purchase Statement

NOVI, Mich. /ScoopCloud/ -- Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today that it is one of the first Freddie Mac-integrated Secondary Market Advisors (SMAs) to release an integration for Freddie Mac's Cash Settlement Purchase Statement application programming interface (API). The API simplifies the funding reconciliation process by providing direct access to cash purchase statement data for the loans sold to Freddie Mac, enabling lenders to quickly review and export purchase advice information.

"With the new Cash Settlement Purchase Statement API, Vice Capital provides our Freddie Mac-approved clients with streamlined access to cash purchase statement data, including funding details and loan-level credit fees," said Vice Capital President Troy Baars. "As a long-time integrated SMA, we deeply value our relationship with Freddie Mac and applaud them for continuously innovating to meet lenders' unique and varied secondary and capital markets needs."

Using the Cash Settlement Purchase Statement API, Vice Capital clients can access the full contract and loan level detail of each loan committed on a particular date directly through the Vice Capital client portal, leading to a faster and more accurate reconciliation process.

Founded in 2001, Vice Capital serves independent mortgage lenders and financial institutions of all sizes, with monthly mortgage production volumes ranging from $10 million to $5 billion a month. Last year, the company set a new internal trade volume record, trading more than $202 billion on behalf of its full-service clients, and experienced a marked increase in its client base, including more than 50% growth in the credit union space. Today, one in every 15 mortgages originated in the United States are traded by Vice Capital or hedged using its proprietary software.

About Vice Capital Markets:

Since 2001, Vice Capital Markets has successfully managed interest rate risk and maximized profitability on MBS trades and mortgage-related transactions for banks, credit unions and mortgage lenders of all sizes. With an average of more than 10 years' experience behind each of the traders on our team, Vice Capital has helped its clients realize, on average, a 25 to 55 bps improvement over their best effort execution, and Vice Capital's proprietary risk-management models and complex investor and agency best execution platform have consistently yielded safe and effective profit maximization for its clients.

Learn more at https://www.vicecapitalmarkets.com/ or call (248) 869-8100.

Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today that it is one of the first Freddie Mac-integrated Secondary Market Advisors (SMAs) to release an integration for Freddie Mac's Cash Settlement Purchase Statement application programming interface (API).

Related link: https://www.vicecapitalmarkets.com/

MCTlive! Capital Markets Platform Becomes First to Integrate with Freddie Mac’s Whole Loan Purchase Advice Seller API

SAN DIEGO, Calif. /ScoopCloud/ -- MCT's award-winning capital markets platform, MCTlive!, is the first to integrate with Freddie Mac's Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Freddie Mac purchase data directly, instead of waiting to run reports through a Loan Origination System (LOS).

By removing manual data entry into the LOS the connection to this API will provide more accurate and timelier 'Held For Sale' reporting. The integration also allows MCTlive's Loan Commitment Tracker to automatically draw down outstanding commitments as loans are purchased by Freddie Mac.

"We really appreciate Freddie Mac on their continued drive to improve the efficiency in which data is communicated back to lenders," said Paul Yarbrough, Senior Director of MCT's Client Success Group. "With Freddie's new Cash Settlement Purchase Statement API, MCT clients are now able to automatically pull in any purchase advice statements posted by Freddie Mac. Subsequently, MCT clients can utilize our state-of-the-art data writeback to update the LOS quicker and more accurately saving the valuable time of critical staff at the lender."

As a top purchaser of whole loans from the MCT lender client base, integrating with the Freddie Mac Whole Loan Purchase Advice Seller API completes a large step in MCT's roadmap for automating and independently verifying performance reporting. MCT is in the process of working with many whole loan buyers to automate the delivery of their purchase advices into MCTlive! Please contact MCT today to start the process of automating the delivery of purchase advices for whole loan buyers and sellers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark-to-market services, and an award-winning comprehensive capital markets software platform called MCTlive!

MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MCT's award-winning capital markets platform, MCTlive!, is the first to integrate with Freddie Mac's Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Freddie Mac purchase data directly, instead of waiting to run reports through a Loan Origination System (LOS).

Related link: https://mct-trading.com/

Housing Finance Strategies Names Industry Leader Jeff Jaffee as Senior Advisor

WASHINGTON, D.C. /ScoopCloud/ -- Housing Finance Strategies Founder & CEO Faith Schwartz today announced she has recruited industry veteran Jeff Jaffee to join her firm as a Senior Advisor focusing on fair lending and consumer protection compliance.

In naming Jaffee to this critical role, Schwartz said, "Our clients are committed to addressing the structural issues that have caused disparities in access to housing finance over many decades. Jeff's experience in Fair Lending, Community Reinvestment Act Compliance and Special Purpose Credit Programs offer transformative opportunities for our clients seeking to build compliant programs to reach all members of a lender's community."

Jeff brings more than 30 years' experience in fair lending, consumer protection, compliance and mortgage to Housing Finance Strategies. Most recently, Jeff led Consumer Protection and Fair Lending Compliance at Freddie Mac.

Prior to his role at Freddie Mac, Jeff served at Bank of the West where he headed CRA and Fair Lending. Previously, Jaffee was at Saxon Mortgage where he built an early fair servicing model. And Jeff spent 27 years at Citi where he had multiple roles including head of CRA and Fair Lending.

Of the new position, Jaffee said "I am very excited to be joining Faith's team and sharing my knowledge and skills with key mortgage industry participants seeking to build access to housing finance for all communities. As regulators focus on new tools such as Special Purpose Credit Programs, there are opportunities to leverage technology and expertise to develop programs to serve new homebuyers in diverse communities across the country."

Housing Finance Strategies was established by Faith Schwartz in 2016 as a professional services and advisory firm specializing in mortgage modernization, housing policy, compliance and legislative and regulatory affairs. Schwartz serves on a number of bank and fintech boards and has a lengthy record of hosting and moderating housing industry events. Schwartz has created and delivered national housing policy conferences with #HousingDC22 registration now open with the virtual event being streamed on September 27-28, 2022.

Media may contact:

Faith Schwartz, President,

https://www.housingfinancestrategies.com/

(202) 384-5887

RELATED LINKS:

https://housingfinancestrategies.com/housingdc22/

https://www.linkedin.com/in/faithschwartz/

https://www.linkedin.com/in/jeffjaffee/

Housing Finance Strategies Founder & CEO Faith Schwartz today announced she has recruited industry veteran Jeff Jaffee to join her firm as a Senior Advisor focusing on fair lending and consumer protection compliance.

Related link: https://housingfinancestrategies.com/

FormFree announces support for new Freddie Mac Loan Product Advisor enhancement aimed at expanding sustainable homeownership for renters

ATHENS, Ga. /ScoopCloud/ -- FormFree® announced that mortgage lenders using AccountChek® verification of asset (VOA) reports in conjunction with a Freddie Mac Loan Product Advisor® (LPA℠) solution will soon benefit from an enhancement that takes loan applicants' 12-month on-time rent payment history into consideration when assessing eligibility for qualified first-time homebuyers.

The enhancement, which is effective once announced in the Freddie Mac July Guide Bulletin, is designed to expand sustainable homeownership for the millions of Americans by taking their rent payment history into account when assessing eligibility. The expansion of rent payment history can increase the number of mortgage loan applicants who receive an Eligible/Accept recommendation in LPA.

"Freddie Mac is focused on offering value to our clients and improving the borrower experience as we continue to modernize the mortgage process," said Kevin Kauffman, Freddie Mac Single-Family Vice President of Client and Partner Delivery. "FormFree has been a strong partner on this journey by helping lenders assess credit eligibility for qualified first-time homebuyers."

LPA will automatically identify on-time rent payments - including those made via mobile apps like Venmo, Zelle and Paypal - within AccountChek VOA reports and take them into consideration when assessing eligibility for qualified first-time homebuyers. Only on-time rent payments will be considered; LPA will not assess late or missing rent payments.

"Freddie Mac's move to have Loan Product Advisor consider rent payment history in its assessment is part of a much larger push for more equitable home financing practices," said FormFree Chief Customer Officer Christy Moss. "People of color, who have disproportionately low homeownership rates and are overrepresented among credit invisible consumers will be most positively impacted by this enhancement to LPA."

"FormFree takes great pride in helping borrowers communicate their ability to pay and equipping lenders with the tools to confidently and efficiently verify borrower credentials," continued Moss. "We look forward to supporting Freddie Mac as it continues to deploy technology that improves access to sustainable credit for homebuyers."

Lenders can leverage rent payment history assessment through LPA asset and income modeler (AIM) when they order AccountChek reports of any length, including 30-, 60-, 90- and 180-day reports. In supplying LPA with 12 months of rent payment history, AccountChek has established safeguards that ensure the collection of extended rent payment history does not expose lenders to non-rent transactions, such as large gift deposits, that occurred more than 90 days in the past.

"FormFree remains committed to developing and supporting solutions that correct the racial homeownership gap," said FormFree Founder and CEO Brent Chandler. "Using FICO scores alone to evaluate creditworthiness excludes a large swath of minority homeowners who pay their rent on time and responsibly manage their finances without borrowing money from creditors. Direct source financial data is the key to understanding consumers' true ability and FormFree applauds Freddie Mac's efforts to help lenders finance homeownership more equitably."

For more information, visit https://www.formfree.com/rent/.

About FormFree:

FormFree® is a market-leading fintech company whose revolutionary products AccountChek® and Passport® make for a more inclusive credit decisioning landscape by enabling lenders to understand people's true ability to pay (ATP®). Our vision is to leverage source data and data-driven intelligence to usher in a new era of transparent, fair and liquid credit markets. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing trillions of dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, dramatically reduces origination timelines and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey®. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

FormFree® announced that mortgage lenders using AccountChek® verification of asset (VOA) reports in conjunction with a Freddie Mac Loan Product Advisor® (LPA℠) solution will soon benefit from an enhancement that takes loan applicants' 12-month on-time rent payment history into consideration when assessing eligibility for qualified first-time homebuyers.

Related link: https://www.formfree.com/

FormFree’s AccountChek joins forces with Freddie Mac for industry-first automated assessment of direct deposit income

ATHENS, Ga. /ScoopCloud/ -- FormFree® today announced that its AccountChek® digital asset verification service will support a first-of-its-kind solution from Freddie Mac that allows mortgage lenders to assess a prospective homebuyer's income using direct deposit data. Available to mortgage lenders nationwide, Freddie Mac's Loan Product Advisor® (LPASM) asset and income modeler (AIM) solution fulfills mortgage verification of assets (VOA) and verification of income (VOI) requirements.

FormFree's AccountChek leverages tens of thousands of data connections with more than 16,000 financial institutions to instantly deliver consumer-permissioned asset and income verification all in one report. With an estimated 93% or more of U.S. workers paid via direct deposit, collapsing asset and income verification into a single, paperless step provides cost-saving efficiencies for lenders, reduces the risk of fraud and manual errors and helps borrowers get approved for - and into - their homes more quickly.

"We have long contended that a consumer's data - in particular, asset data sourced directly from financial institutions and extending over 12 months or more - holds the key to better understanding consumers' financial DNA, streamlining lenders' underwriting processes and driving inclusion in homeownership," said FormFree Founder and CEO Brent Chandler. "This latest enhancement to Freddie Mac's AIM brings lenders money-saving process efficiencies by making income assessment instantaneous."

"We're pleased to have FormFree's AccountChek product support this game-changing enhancement to our AIM offering," said Christina Randolph, Director, Strategic Technology Partnerships at Freddie Mac. "Partnering with FormFree has helped unlock more consumer financial data that allows us to uphold our risk management standards while streamlining the mortgage process and increasing homeownership opportunities."

A March Freddie Mac Single-Family Seller/Servicer Guide Bulletin will provide lenders additional requirements and information about when the solution will be available. Once Freddie Mac releases AIM for income using direct deposits, it will be available to lenders using LPA v5.06 or higher.

To learn more, visit https://www.formfree.com/direct-deposit-income/.

ABOUT FORMFREE:

FormFree® is a market-leading fintech company whose revolutionary products AccountChek® and Passport® make for a more inclusive credit decisioning landscape by enabling lenders to understand people's true ability to pay (ATP®). To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing trillions of dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, dramatically reduces origination timelines and offers automated analysis and standardized delivery to lenders and investors using a secure ReissueKey®.

For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

Twitter: @RealFormFree @FreddieMac #mortgage #fintech #automation #homeownership

RELATED LINKS:

https://freddiemac.gcs-web.com/news-releases/news-release-details/freddie-mac-announces-first-automated-assessment-direct-deposit

https://www.linkedin.com/company/formfree/

FormFree® today announced that its AccountChek® digital asset verification service will support a first-of-its-kind solution from Freddie Mac that allows mortgage lenders to assess a prospective homebuyer's income using direct deposit data. Available to mortgage lenders nationwide, Freddie Mac's Loan Product Advisor® (LPASM) asset and income modeler (AIM) solution fulfills mortgage verification of assets (VOA) and verification of income (VOI) requirements.

Related link: https://www.formfree.com/

SimpleNexus is certified as eClosing solution provider by Fannie Mae and Freddie Mac

LEHI, Utah /ScoopCloud/ -- SimpleNexus (https://simplenexus.com/), developer of the leading homeownership platform for loan officers, borrowers, real estate agents and settlement agents, is now a Fannie Mae- and Freddie Mac-reviewed eClosing solution provider. The designation affirms that SimpleNexus' Nexus Closing™ eMortgage solution meets both GSEs' technical requirements for eClosing, eNote and eVault functionality and has been tested for compatibility with the GSEs' respective eNote delivery systems.

eMortages are faster, offer improved data quality and can be cheaper to execute than traditional mortgages. Now, approved Fannie Mae and Freddie Mac Seller/Servicers desiring to deliver eMortgages to Fannie Mae and Freddie Mac can use Nexus Closing to create and submit eMortgages to both GSEs. Lenders that work with a pre-tested eMortgage vendor like SimpleNexus can expedite the GSE approval process to deliver eMortgages.

"Nexus Closing gives lenders the flexibility to make the closing experience as digital as they want," said SimpleNexus CEO Cathleen Schreiner Gates. "In addition to giving borrowers more time to review and understand closing documents, Nexus Closing offers lenders substantial ROI with improved operational efficiency, increased data integrity and faster delivery of loans to the secondary market."

Nexus Closing™ provides borrowers a memorably modern closing experience as part of an end-to-end, single-sign-on homebuying experience that increases repeat and referral business. The solution comes with integrated remote online notarization (RON) and eSigning, automatic generation of a tamper-sealed eNote document and delivery of the eNote into a secure eVault for delivery to the MERS® eRegistry.

To view Fannie Mae's complete eClosing Technology Service Provider List, visit: https://singlefamily.fanniemae.com/applications-technology/eclosings-emortgages

To view Freddie Mac's Reviewed Vendor List for eMortgage, visit: https://sf.freddiemac.com/working-with-us/electronic-loan-documents/reviewed-vendor-list

For more information about Nexus Closing™ eMortgage, visit: https://www.simplenexus.com/emortgage/

About SimpleNexus, LLC:

SimpleNexus is a homeownership platform transforming the mortgage experience and connecting borrowers, loan officers, real estate agents and settlement service providers throughout the homebuying process. The platforms' native mobile toolset enables lenders to originate, process and close home loans from anywhere with increased efficiency and convenience. Loan officers can manage their loan pipelines, order credit, run pricing, send pre-approvals, sign disclosures and execute eClosings - all on the go. SimpleNexus provides borrowers with a single sign-on experience from home search to the application, document upload, eClose and beyond for a more streamlined homeownership journey.

Learn more at: https://www.simplenexus.com/

Twitter: @SimpleNexus #digitalmortgage #mortgageindustry #mortgagelending #eMortgage #eClosing

SimpleNexus, developer of the leading homeownership platform for loan officers, borrowers, real estate agents and settlement agents, is now a Fannie Mae- and Freddie Mac-reviewed eClosing solution provider. The designation affirms that SimpleNexus' Nexus Closing™ eMortgage solution meets both GSEs' technical requirements for eClosing, eNote and eVault functionality and has been tested for compatibility with the GSEs' respective eNote delivery systems.

Related link: https://simplenexus.com/

FormFree and Freddie Mac Partner to Automate Income and Asset Assessment to Safely Speed Origination Process

ATHENS, Ga. /ScoopCloud/ -- Freddie Mac has named FormFree(R) a designated third-party service provider for automated income and asset assessment capabilities. The announcement came as the GSE unveiled new enhancements to Loan Advisor(SM) at the Mortgage Bankers Association's Annual Convention and Expo in Washington, D.C.

Loan Advisor is Freddie Mac's set of integrated software applications designed to take cost out of the origination process and help mortgage lenders acquire relief from certain representations and warranties. By fully automating the assessment of borrower income and assets with data from FormFree and other approved third-party sources, Freddie Mac can offer lenders rep and warranty relief when the data meets its underwriting and eligibility requirements.

Freddie Mac's automated asset and income assessment capabilities are currently available in limited release, and the GSE said it plans to make its asset offering broadly available before the end of the year. FormFree direct deposit income assessment capabilities are expected to debut in early 2019. Both capabilities will be accessed through Loan Product Advisor(R), Freddie Mac's automated underwriting system that is part of Loan Advisor.

"Speeding up the origination process by automating the assessment of borrower assets and income is just one way we are giving our clients the Freddie Edge(SM)," said Samuel E. Oliver III, Freddie Mac Vice President, Major Project Execution, Single-Family Business. "Through our partnership with FormFree, we're helping lenders provide their borrowers with an easier and faster mortgage experience."

"This is a long-anticipated announcement that should excite lenders who are looking to add efficiency and choice to their origination and secondary market workflows," said Brent Chandler, founder and CEO of FormFree. "As the industry's original provider of automated asset and income verification, we are a proud partner in Freddie Mac's efforts to reimagine the mortgage experience and deliver an origination process that is easier and more efficient for lenders and consumers alike."

"This partnership with FormFree and Freddie Mac is another step toward realizing the true digital mortgage," said Parvesh Sahi, senior vice president of business development, Ellie Mae. "By offering asset verification services through our Encompass Lending Platform, we're maximizing efficiency and adding value for our lenders while streamlining the application process for borrowers."

Ellie Mae's Encompass Consumer Connect(tm) is among the more than 100 mortgage technology platforms that currently integrate FormFree's flagship AccountChek asset verification service. FormFree's end-to-end integration with Encompass Consumer Connect gives lenders a fully streamlined mortgage application and automated validation of asset and income through Ellie Mae's partnership with Freddie Mac's Loan Product Advisor.

About FormFree(R):
FormFree is a fintech company whose market-leading AccountChek(R) Asset Reports are used by lenders nationwide to verify borrower assets, employment and income in minutes. To date, more than 1,000 U.S. lenders have ordered over 1.25 million AccountChek Asset Reports, delighting their customers with a paperless experience and reducing origination timelines by up to 20 days. FormFree offers automated analysis and standardized delivery to lenders and their investors using a secure ReIssueKey(tm). A HousingWire TECH100(tm) company for four consecutive years, FormFree is based in Athens, Georgia. For more information, visit https://www.formfree.com or follow FormFree on LinkedIn.

About Freddie Mac:
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.

Freddie Mac has named FormFree a designated third-party service provider for automated income and asset assessment capabilities. The announcement came as the GSE unveiled new enhancements to Loan Advisor(SM) at the Mortgage Bankers Association's Annual Convention and Expo in Washington, D.C.

Related link: https://www.formfree.com/

Freddie Mac Expands eMortgage Solutions with DocMagic’s eVault Technology to Store and Control eNotes

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced today that Freddie Mac has implemented its SaaS-based eVault technology and SmartREGISTRY(TM) platform.

DocMagic's eVault provides a secure electronic repository for storing documents and performing automated eNote certification to Freddie Mac eMortgage lenders via Loan Selling Advisor(R). By automating the eNote certification process, Freddie Mac will speed the funding process, thereby improving liquidity in the mortgage markets and reducing lender's warehouse line costs.

"Freddie Mac is committed to streamlining the mortgage process for lenders and borrowers, and has been a leader in purchasing eMortgages since 2006," said Andy Higgenbotham, Freddie Mac's Single Family Chief Operating Officer. "We rolled out our automated certification process in 2015 to speed up the funding process, thereby improving liquidity in the mortgage markets and reducing lender's warehouse line costs. We are now expanding this process to include the DocMagic platform."

DocMagic's eVault provides safe and secure storage for sensitive loan documents. It also automatically parses and validates data in a SmartDoc eNote against data in the user's core system of record. Additionally, DocMagic's SmartREGISTRY platform enables holders of eNotes to securely transfer these electronic documents to other eVault systems, such as those used by investors, conduit aggregators and servicers. Ultimately, it facilitates real-time access, delivery, storage and much needed control of electronic loan files.

"Freddie Mac has been a long-time visionary and champion of eMortgages over the years and has made great strides with their unwavering commitment to automation across the supply chain," stated Dominic Iannitti, president and CEO at DocMagic. "Now, with the successful rollout of SmartDoc eNote data validation prior to funding, this demonstrates the advantages and a clear-cut ROI of going completely 'e.' We look forward to ongoing collaboration with Freddie Mac and to further adoption of the digital mortgage process."

Notable is that that Freddie Mac encourages the use of 'SMART' (securable, manageable, archivable, retrievable, transferable) eNotes because static documents do not contain source data, and thus make it difficult, costly and time consuming to confirm the data on documents match.

DocMagic established a process that guides lenders on how to begin using SmartDoc eNotes. The company's eVault technology is integrated with its Total eClose(TM) platform, which is a comprehensive eClosing solution that creates a 100 percent paperless digital mortgage process - from origination through eClosing, eWarehouse lending, investor eDelivery and eServicing.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit http://www.docmagic.com.

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced today that Freddie Mac has implemented its SaaS-based eVault technology and SmartREGISTRY(TM) platform.

Related link: https://www.docmagic.com/

MCT Integrates its MCTlive! Secondary Marketing Software with Freddie Mac for Automated Loan Sale Pricing and Commitment

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced new functionality that delivers real-time pricing and automates loan committing for Freddie Mac clients. MCT's lender clients receive the pricing information seamlessly via its integrated capital markets technology platform, MCTlive! MCT is the first vendor to have successfully completed the first commitment via Freddie Mac's new API technology.

After completing Best Execution Analysis and determining loans to be sold to Freddie Mac, lenders use Rapid Commit functionality which intelligently completes product selection and delivers commitments for all loans with a single click. MCTlive! Rapid Commit interfaces bi-directionally with Freddie Mac's Loan Selling Advisor system in real-time.

"We are proud to leverage the system-to-system Pricing and Commitment functionalities within the newly released Freddie Mac APIs," stated Phil Rasori, COO at MCT. "This integration is a significant step on our road map for increased technology collaboration with Freddie Mac for the benefit of our mutual lender clients."

MCTlive! Rapid Commit functionality speeds up the committing process, ensures data integrity, and optimizes best execution for all commitments. Working within MCTlive!, users leverage Rapid Commit to run initial best execution, confirm Freddie Mac eligibility, and analyze the optimal subset sizes and products to deliver as individual commitments. MCTlive! has converted a once manual process to a completely automated and efficient solution.

MCT and Freddie Mac look forward to continuing to collaborate for the benefit of mutual clients. Lenders interested in leveraging MCT Rapid Commit to improve their loan sale process should schedule a consultation.

About MCT:
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive!

MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

About Freddie Mac:
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at www.FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog.

Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced new functionality that delivers real-time pricing and automates loan committing for Freddie Mac clients. MCT's lender clients receive the pricing information seamlessly via its integrated capital markets technology platform, MCTlive!

Related link: https://mct-trading.com/

Cloudvirga and Freddie Mac Team Up to Deliver a Better Borrower Experience, Maximize Fungibility

IRVINE, Calif. /ScoopCloud/ -- Cloudvirga(TM), a leading provider of digital mortgage point-of-sale (POS) software whose enterprise technology is powered by the intelligent Mortgage Platform(R), today launched single-click submission of loan data to both GSEs' automated underwriting systems (AUS) in a collaborative effort with Freddie Mac, delivering on the industry need for greater transactional ease.

The dual-AUS submission and review process allows lenders to maximize loan fungibility in the secondary market and improve loan quality through automation. Cloudvirga works behind the scenes to automate review of each GSEs' AUS' findings report, applying rules-based logic and predictive analytics to determine the best path for a loan without adding manual review tasks or interfering with a loan team's preferred origination workflow.

"We're empowering loan officers and back-office teams with data and augmented intelligence and making it effortless to deliver the best possible borrower experience while maximizing loan performance in the secondary market," said Kyle Kamrooz, Cloudvirga Co-founder.

Running loan data through both AUSs up front allows loan officers to identify opportunities to help borrowers save money and close loans faster. For example, a loan may not qualify for an automated appraisal waiver from both GSEs. Avoiding the need for an appraisal can save borrowers anywhere from $300 to over a thousand dollars and shorten loan cycle times by days or weeks. Dual-AUS submission will ensure loan officers have a full picture of the options available for their borrowers and can provide the best borrower experience.

"Freddie Mac is committed to helping all lenders maximize loan fungibility while maintaining transactional ease, reducing origination costs and improving the borrower experience," said Rick Lang, Vice President, Loan Advisor Suite Strategy and Integration for the Single-Family business at Freddie Mac. "We're confident Cloudvirga's 'AUS agnostic' submission will demonstrate that selecting Loan Product Advisor on a per-loan basis will add value for both lenders and borrowers."

The functionality will be available to Cloudvirga customers with Freddie Mac Loan Product Advisor's 4.8 release. Loan Product Advisor 4.8 also adds new support for automated validation of borrower asset and income data.

About Cloudvirga(TM):

Cloudvirga's digital mortgage point-of-sale (POS) software, powered by the intelligent Mortgage Platform(r), uniquely combines a world-class borrower experience with a truly automated lender workflow that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's initial customer roster includes nine of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $27 million from some of the country's top lenders and venture capital firms.

For more information, visit http://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn.

REF: OTCMKTS:FMCC / OTC:FMCC

Cloudvirga, a leading provider of digital mortgage point-of-sale (POS) software whose enterprise technology is powered by the intelligent Mortgage Platform, today launched single-click submission of loan data to both GSEs' automated underwriting systems (AUS) in a collaborative effort with Freddie Mac (OTCMKTS: FMCC), delivering on the industry need for greater transactional ease.

Related link: http://www.cloudvirga.com/

IDS Receives Certification from Fannie Mae, Freddie Mac for Its UCD XML File

SALT LAKE CITY, Utah /ScoopCloud/ -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced its Uniform Closing Dataset (UCD) XML file has been certified to meet all UCD requirements by both Fannie Mae and Freddie Mac ahead of the GSE's September 25 deadline for UCD delivery. To have its UCD XML file certified by the GSEs, IDS underwent an extensive testing process to ensure the dataset was delivered in a GSE-acceptable format.

"With the implementation deadline for UCD looming, we knew we wanted to get ahead of the changes to ensure our clients have a seamless transition once implementation is required, and having our XML file certified by the GSEs is a major step in that direction," said Mark Mackey, vice president and general manager of IDS. "To be the first mortgage document vendor to have its XML file certified by the GSEs is a testament to IDS's commitment to keeping our clients ahead of the compliance curve and enhance their ability to deliver defect-free loan documents and data."

According to the GSEs, the UCD "is a component of the Uniform Mortgage Data Program(R) (UMDP(R)), an ongoing effort by Fannie Mae and Freddie Mac at the direction of our regulator, the Federal Housing Finance Agency, to provide a common industry dataset to support the Consumer Financial Protection Bureau's (CFPB) Closing Disclosure."

Beginning this fall, lenders selling to the GSEs will be required to submit the XML file, which includes a PDF copy of the Closing Disclosure (CD), prior to delivery of the final loan package for all loans with a Note Date on or after September 25, 2017. In this initial phase, the GSEs will only require the borrower CD and associated data. After a year, lenders will then have to provide the seller CD and associated data in the UCD file as well. The UCD XML file created by IDS is already capable of embedding and delivering the CD and data for both the borrower and the seller.

"The aim of the UCD is to provide the mortgage industry with consistency, clarity and transparency - all of which are also long-held goals for the mortgage industry - so this is one of the few instances where change is welcome," Mackey added. "IDS has always strived to provide our clients with strong LOS integrations to deliver a uniform experience that maintains the integrity of the data being exchanged, and the UCD simply helps us take that enterprise to the next level."

About IDS, Inc.:

IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes. Information: http://info.idsdoc.com/.

Mortgage document preparation vendor International Document Services, Inc. (IDS), announced its Uniform Closing Dataset (UCD) XML file has been certified to meet all UCD requirements by both Fannie Mae and Freddie Mac ahead of the GSE's September 25 deadline for UCD delivery. To have its UCD XML file certified by the GSEs, IDS underwent an extensive testing process to ensure the dataset was delivered in a GSE-acceptable format.