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NAMB supports home loan guarantee reforms
Cogent Road debuts new underwriting productMortgagePress.comFunding Suite credit management software, Underwriting Conditions Scan, Fannie Mae, Freddie Mac
Cogent Road announced
that its Funding Suite credit management software now includes a
free Underwriting Conditions (UC) Scan that automatically detects
underwriting conditions and translates those into easily
interpreted language.
The new economic stimulus plan that raises Fannie Mae and
Freddie Mac loan limits from $417,000 to as high as $730,000 may
result in many brokers dealing a higher percentage of loans through
these automated underwriting systems in 2008. For many originators,
this may be their first experience with the various underwriting
conditions presented by Fannie Mae's Desktop Underwriter (DU) or
Freddie Mac's Loan Prospector.
Funding Suite's UC Scan, which is currently compatible with
Fannie Mae's DU, not only educates the broker as to what conditions
exist and what they are, it also helps resolve them more
effectively and get the loan moved through the Fannie Mae system
more efficiently.
Cogent Road, based in San Diego, Calif., is a provider of
Internet-based applications for the mortgage industry. For more
information, call (800) 848-2514 or visit www.cogentroad.com.
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