ABC announces the launch of DU/CDU import processMortgagePress.comAmerican Brokers Conduit
American Brokers Conduit (ABC), the wholesale division of
American Home Mortgage Investment Corporation, a publicly held
mortgage real estate investment trust, has announced that brokers
now have the ability to import their Desktop Underwriting (DU) and
Custom Desktop Underwriting (CDU) findings, 1003 and credit
directly to the company's Web site at www.abconduit.com.
Importing DU/CDU findings is another step that ABC has taken in
giving their broker partners a competitive edge. By importing their
DU/CDU findings directly to ABC, brokers can get a pre-approval
prior to loan submission, giving their clients a decision in
minutes instead of days. The DU/CDU findings include the 1003 and
credit report as well. By importing the broker's credit report
electronically, ABC can eliminate the need for re-pulling
credit—saving both the broker and his client the possibility
of the loan being re-priced or re-structured as the client's credit
scores are maintained.
"We are very excited about this enhancement, as we are one of
only a few lenders offering such an extensive product line through
CDU. Now that we have the ability to receive these files
electronically, we are confident that this technology will help our
broker partners close more loans and grow their business
significantly," noted Lisa Schreiber, executive vice president of
ABC. "Being able to offer clients a pre-approval letter in minutes
will give ABC broker partners a significant advantage in the
purchase market with their borrowers and their referral
partners."
In addition, as of Aug. 1, ABC now offers an online pricing
incentive of one-eighth for all DU/CDU finding imports. ABC is
looking to deliver exciting new capabilities before year end to
continue to bring value to their broker partners.
"This enhancement is already promoting increased broker
interaction with our ABC Web site, providing a more positive loan
process experience for our broker partners and their clients,"
Schreiber concluded.
Brokers can get ABC product-specific DU and CDU findings through
efanniemae.com, eMagic and AU Central, with FannieMae providing a
direct link to www.abconduit.com through "Link to Lender" and
giving brokers a more streamlined loan process.
For more information, visit www.abconduit.com.
