PCLender.com Inc. has announced an extended markup language (XML) data integration between its flagship loan origination system InHouse Mortgage and credit reporting company Avantus LLC. The companies previously shared a standard two-way interface for ordering credit within IHM and populating screens with the returning liabilities, but upgraded to a MISMO-compliant integration for two reasons.
“Fannie Mae and Freddie Mac will soon require that all transmission of sensitive borrower data on loans they purchase meet certain guidelines,” said Cy Brinn, chief operating officer of PCLender.com. “Our integration with Avantus adheres to those standards.”
PCLender.com is focused on continually finding new ways to use XML to increase automation in the production of mortgage loans through improved integration with other Web-based service providers. The integration with Avantus allows PCLender.com to extract much more data than is returned with a standard Fannie Mae 3.2-formatted interface, and the individual data elements can be used to drive business rules, data checks, and hard-stops that prevent a problem loan from moving forward.
Avantus specializes in providing customized mortgage credit reports, tax return verification, fraud identification tools, flood certification, automated valuation models (AVMs) and a host of other mortgage-related services and technology to the nation’s financial community.
“Our integration with PCLender.com will allow lenders to immediately increase their overall transactional efficiencies and improve the quality of their loan portfolios," said Kevin Rost of Avantus LLC. "Lenders will be able to capture and incorporate critical credit and mortgage information into the earliest stages of the loan origination process. Given the importance of having the right information available at the right time, this integration will significantly improve lenders’ ability to provide exceptional service to their borrowers and deliver a high quality loan into the secondary market."
For more information, visit www.pclender.com or www.avantus.com.