Lodasoft, a Digital Workflow Platform designed by mortgage veterans to revolutionize loan origination and task automation, today announced it is now offering single-click submissions of loan data to both Freddie Mac and Fannie Mae’s automated underwriting systems (AUS), delivering greater transactional ease and operational efficiency.
Mortgage lenders leveraging Lodasoft will now have the ability to run an application through both systems, with a single click, to quickly identify the best option for the borrower up front. Additionally, the dual-AUS submission and review process will allow lenders to maximize loan fungibility in the secondary market and improve loan quality through automation.
“We’re excited to see Lodasoft build out dual-AUS submission integration that make it easier for our shared clients to implement capabilities like Loan Product Advisor asset and income modeler and automated collateral evaluation,” said David Fulford, Freddie Mac Single-Family Vice President of Lender Strategy and Integration. “These solutions help lenders who have committed significant investment provide borrowers with an even better end-to-end digital experience.”
The single-click dual AUS system not only save money by identifying the best product for the borrower as early as possible but can also reduce loan cycle times by days or even weeks.
“By submitting loan data via a single click to both Freddie Mac and Fannie Mae, lenders can see the full view of options available to their borrowers and ultimately deliver an improved experience. This also helps save money and allows lenders to close loans faster,” said Adam Batayeh, President of Lodasoft. “We’re excited about this partnership and how our new offering will positively impact our clients.”
Tony Garritano is the founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 20 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting PROGRESS in Lending Association was the next step for someone like Tony, who has dedicated his entire career to providing mortgage executives with the information that they need to make informed technology decisions to help their businesses succeed.