{"id":460841,"date":"2021-03-18T10:33:29","date_gmt":"2021-03-18T14:33:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=460841"},"modified":"2021-03-18T10:33:29","modified_gmt":"2021-03-18T14:33:29","slug":"freddie-mac-enhances-the-digital-mortgage-experience","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/freddie-mac-enhances-the-digital-mortgage-experience\/","title":{"rendered":"Freddie Mac Enhances the Digital Mortgage Experience"},"content":{"rendered":"

\nReal-time payroll income verification improves underwriting, reduces risk
\n<\/h2>\n
\n

MCLEAN, Va., March 18, 2021 (GLOBE NEWSWIRE) — Freddie Mac<\/a>\u00a0(OTCQB: FMCC)\u00a0announced today that automated payroll income verification is broadly available to lenders so they can reduce the documentation burden on borrowers, close loans faster and simplify the lending process while meeting its strong credit underwriting standards.<\/p>\n

With the addition of Finicity, Freddie Mac\u2019s clients have another option when choosing a payroll provider for verification of a mortgage applicant\u2019s income through its Loan Product Advisor\u00ae<\/sup> (LPASM<\/sup>) asset and income modeler (AIM).<\/p>\n

\u201cThis is another win for borrowers and lenders as we continue our industry-leading advancements toward a true digital mortgage experience,\u201d said Andy Higginbotham, Single-Family Chief Operating Officer at Freddie Mac. \u201cBroad adoption of these digital solutions through LPA is helping our clients grow their business and provide today\u2019s borrowers with a vastly improved mortgage experience whether they\u2019re refinancing their current mortgage or buying a new home.\u201d<\/p>\n

\u201cFreddie Mac’s commitment to simplifying the mortgage experience, while providing best-in-class technology to enable its clients\u2019 decisioning, is significantly driving the adoption of a fully digital mortgage,\u201d said Lisa Kimball, SVP Product and Strategic Programs at Finicity. \u201cWorking with Freddie Mac on income verification that takes minutes and not days delivers a better experience for borrowers and lenders alike, while promoting accuracy and improvement to the bottom line.”<\/p>\n

In addition to payroll data for salaried employees, lenders can also now receive confirmation through LPA that a self-employed borrower\u2019s tax transcript data matches data from their IRS tax return processed through LoanBeam. Since 2019, Freddie Mac\u2019s clients have been leveraging LoanBeam through LPA to enable the automation of income calculations for self-employed borrowers on Sole Proprietorships, S-Corporations and Partnerships.<\/p>\n

\u201cWe are excited to extend our collaboration with Freddie Mac to include our latest product, APPSolute Transcripts,\u201d said Steve Puckett, LoanBeam\u2019s CEO. \u201cThis latest LPA integration will pair nicely with our APPSolute Tax integration to reduce income uncertainty faster than ever before.\u201d<\/p>\n

With today\u2019s announcement, Freddie Mac is also adding CoreLogic and LoanCraft as third-party service providers to its AIM for self-employed solution to give clients even more options.<\/p>\n

To learn more about Freddie Mac Loan Product Advisor, and how it can aid a lender\u2019s mortgage origination experience, visit http:\/\/www.freddiemac.com\/loanadvisorsuite\/loanproductadvisor\/<\/a><\/p>\n

\n About Freddie Mac<\/strong>
\n
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\u2019ve 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<\/a>, Twitter @FreddieMac<\/a> and Freddie Mac\u2019s blog FreddieMac.com\/blog<\/a>.<\/p>\n

MEDIA CONTACT: Chad Wandler
703-903-2446
Chad_Wandler@FreddieMac.com<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Real-time payroll income verification improves underwriting, reduces risk MCLEAN, Va., March 18, 2021 (GLOBE NEWSWIRE) — Freddie Mac\u00a0(OTCQB: FMCC)\u00a0announced today that automated payroll income verification is broadly available to lenders so they can reduce the documentation burden on borrowers, close loans faster and simplify the lending process while meeting its strong credit underwriting standards. With the addition of Finicity, Freddie Mac\u2019s clients have another option when choosing a payroll provider for verification of a mortgage applicant\u2019s income through its Loan Product Advisor\u00ae (LPASM) asset and income modeler (AIM). \u201cThis is another win for borrowers and lenders as we continue our industry-leading advancements toward a true digital mortgage experience,\u201d said Andy Higginbotham, Single-Family Chief Operating Officer at Freddie Mac. \u201cBroad adoption … <\/p>\n

Continue reading “Freddie Mac Enhances the Digital Mortgage Experience”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-460841","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFreddie Mac Enhances the Digital Mortgage Experience - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/freddie-mac-enhances-the-digital-mortgage-experience\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Freddie Mac Enhances the Digital Mortgage Experience - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Real-time payroll income verification improves underwriting, reduces risk MCLEAN, Va., March 18, 2021 (GLOBE NEWSWIRE) — Freddie Mac\u00a0(OTCQB: FMCC)\u00a0announced today that automated payroll income verification is broadly available to lenders so they can reduce the documentation burden on borrowers, close loans faster and simplify the lending process while meeting its strong credit underwriting standards. With the addition of Finicity, Freddie Mac\u2019s clients have another option when choosing a payroll provider for verification of a mortgage applicant\u2019s income through its Loan Product Advisor\u00ae (LPASM) asset and income modeler (AIM). \u201cThis is another win for borrowers and lenders as we continue our industry-leading advancements toward a true digital mortgage experience,\u201d said Andy Higginbotham, Single-Family Chief Operating Officer at Freddie Mac. \u201cBroad adoption … Continue reading "Freddie Mac Enhances the Digital Mortgage Experience"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/freddie-mac-enhances-the-digital-mortgage-experience\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-18T14:33:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MjY5MiM0MDcxMzQyIzIwODExNTY=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-enhances-the-digital-mortgage-experience\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-enhances-the-digital-mortgage-experience\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Freddie Mac Enhances the Digital Mortgage Experience\",\"datePublished\":\"2021-03-18T14:33:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-enhances-the-digital-mortgage-experience\\\/\"},\"wordCount\":473,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-enhances-the-digital-mortgage-experience\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE5MjY5MiM0MDcxMzQyIzIwODExNTY=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-enhances-the-digital-mortgage-experience\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-enhances-the-digital-mortgage-experience\\\/\",\"name\":\"Freddie Mac Enhances the Digital Mortgage Experience - 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