INTEGRA, New Penn And Freddie Mac Set Out To Improve The Borrower Experience

INTEGRA Software Systems is collaborating with New Penn Financial and government sponsored enterprise (GSE) Freddie Mac to launch a one-click submission of loan data to Loan Product Advisor, the GSE’s automated underwriting system (AUS). The solution will provide seamless integration that will help New Penn increase efficiency and maximize secondary market execution by allowing data to be simultaneously submitted to both GSE AUSs at point of sale.

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“Our collaboration with New Penn and Freddie Mac will increase productivity, improve accuracy in the loan decisioning and underwriting process and reduce the overall origination cycle time,” said Rick Allen, Senior Vice President of Operations, INTEGRA Software. “The seamless integration between our systems will allow for more efficiency, including configuration to identify loans eligible for data validation for income, assets and collateral so New Penn can identify the loan that is most favorable to the borrower.”

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INTEGRA’s web-based Epic solution allows lenders to submit loan-data via a single click to both Freddie Mac and Fannie Mae’s AUSs, enabling lenders to see the full view of options available to their borrowers and ultimately leading to an improved borrower experience. The Epic solution provides real-time data information which improves lender efficiency while streamlining the residential real estate transaction.

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“We are always looking for technology that provides our team with tools to better serve our customers,” said Dena Kwaschyn, Chief Fulfillment Officer at New Penn Financial. “With results from both GSE AUSs, we can give borrowers access to more options, like appraisal waivers, so they can save money and shorten the time it takes to close a loan.”

“AUS-Neutral Design (#AND) is an innovative movement supporting the idea that lenders should run both underwriting systems to identify the best path for their borrowers and, in many instances, the optimal processing path for themselves. It is a win for everyone and we’re happy to support this positive change in the industry,” said David Fulford, Vice President of Strategic Technology Integration at Freddie Mac for the Single-Family Business.

About The Author

Tony Garritano

Tony Garritano is chairman and 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 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.