Blueberry Systems LLC and Kroll Factual Data Inc. have announced the release of several advanced Kroll Factual Data product integrations into Blueberry Systems’ Relay, the company’s enterprise loan origination system (LOS). Kroll Factual Data’s Loan Review Report (LRR), a product specifically designed to help clients comply with Fannie Mae’s Loan Quality Initiative (LQI), is now available through Blueberry Systems. Kroll Factual Data Bureau Express Credit Reports and Flood Determination Reports are already integrated with Relay. Next steps include integrating additional services throughout the remainder of the year, including Third Party Verifications and Risk Mitigation services.
Kroll Factual Data’s Loan Review Report simplifies the process of identifying undisclosed liabilities, helping lenders comply with the guidelines established in the LQI and mitigate the risk of buy-back requests. Loan Review Report is an efficient and cost-effective solution that includes a credit report, updated tradeline balances and a Mortgage Electronic Registration System (MERS) search.
“Providing valuable solutions to our partners and the industries we support is important to Kroll Factual Data. Working with Blueberry Systems and integrating our services, like the Loan Review Report, with their system is very beneficial to our mutual customers,” said Damon Littlejohn, Director, Channels and Alliances at Kroll Factual Data. “With the heightened scrutiny from investors on the accuracy and completeness of information supporting loan decisions, having Loan Review Report, as well as our Third Party Verifications and Risk Mitigation Services, available within Blueberry Systems is timely for lenders concerned with mitigating this risk.”
Relay features both a universal data model to ensure the highest data integrity and a data audit framework that collaborates with a dynamic business rules engine to ensure strict fulfillment of state, federal, investor and agency compliance requirements. The universal data model eliminates data silos and the need for duplicate or staggered data entry. Meanwhile, the data audit framework allows for the creation of sophisticated business processes based on the state and evolution of loan data. Analysis by an independent firm recently demonstrated that Relay’s efficiencies save the typical mid-tier lender approximately $288 per loan.
“Blueberry Systems is relentless about pursuing the competitive advantage for our clients,” said Dominick Marchetti, COO at Blueberry Systems. “In this case, we are able to leverage our technology and partnerships to drive data quality, efficiency and compliance. It dovetails perfectly into our purpose statement of making our clients wildly successful by using our technology to solve their real business problems.”