MReport January 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 7 of 67

6 | M R EP O RT MTECH A One-Stop Certification Process FREDDIE MAC HAS ANNOUNCED AN INDUSTRY- FIRST ENOTE CUSTODY AND CERTIFICATION INTEGRATION DESIGNED TO BRING INCREASED EFFICIENCY AND LIQUIDITY TO SINGLE-FAMILY HOUSING. F reddie Mac announced that it has launched an au- tomated eNote certification solution for third-party eNote custodians, which includes a system-to-system integration from Freddie Mac's Loan Selling Advisor. The solution provides a seamless, one-stop shop for custodial needs, while also delivering risk management and eNote process efficiency benefits to loan Sellers and Servicers. "The ability to integrate with third-party eNote custodians for automated eNote certifica- tion is a digital needle mover for Freddie Mac eMortgage Sellers and Servicers," said Samuel E. Oliver III, VP, Single-Family Major Projects, Freddie Mac. "In addition to minimizing the need for the current bifurcated cus- tody model for eMortgage seller/ servicers, this integration lays the foundation for potential solutions to minimize some of the technol- ogy setup costs required in the eNote process." As a key component of Freddie Mac's Loan Selling Advisor, this integration enables third-party eNote custodians to digitally compare the lender- delivered loan data with data included in the borrower's signed eNote, and to provide results of the certification to the lender. Freddie Mac will remain as an eNote custodian option for its Sellers and Servicers, and will notify eMortgage Sellers and Servicers in advance of any changes to the custodian options. Integrating Credit Reporting Capabilities LENDERS WILL BE ABLE TO USE BLEND'S MORTGAGE APPLICATION PLATFORM WITH FACTUAL DATA CREDIT REPORTING SERVICES AS PART OF THE PROCESS. F actual Data, a provider of mortgage credit and data validation services to the mortgage lending industry, an- nounced the integration of its credit reporting capabilities with Blend's digital lending technology. The integration provides lenders using Blend's mortgage application platform with Factual Data credit reporting services as part of the process. "Both consumers and lenders are looking for reliable credit data as part of the mortgage process," Factual Data President Jay Giesen said. "This integra- tion helps to improve efficien- cies, lower risk and give modern borrowers the kind of experience they are looking for." Blend's Head of Business Development, Brian Martin, said integrating highly trusted credit data into the company's digital platform is a crucial aspect of meeting consumer expectations today. "Blend collaborates closely with banks and other lenders to give consumers a more intuitive, faster, and safer way to apply for Faster, Smarter, More Adaptable From eNote innovations for Freddie Mac to the continuing rise of iBuyers, here are the tech stories that the industry is talking about.

Articles in this issue

Archives of this issue

view archives of TheMReport - MReport January 2020