Finicity Partners With Freddie Mac

Oct 15, 2018

Finicity has announced that it has been selected as a third-party service provider for the new Freddie Mac Loan Advisor automated income and asset assessment capabilities, which provide a faster, easier way for lenders to verify loan application data upfront. Finicity’s digital verification reports greatly improve efficiency and accuracy, while also providing a simpler, more pleasant borrower experience.

“Finicity loves working with digital innovators. Lenders need digital services to compete and meet customer expectations, and Freddie Mac gets it,” said Steve Smith, CEO and Co-Founder of Finicity. “They are pushing hard to help lenders remove hassles for borrowers while reducing complexity, cost and risk in loan originations.”

Finicity’s verification reports are integrated within Freddie Mac Loan Product Advisor. When the capability goes live later this quarter, asset verification will be generally available and income verification will be available as a limited release.

“Finicity’s high quality data, combined with their data intelligence capabilities and Loan Product Advisor’s superior underwriting capability, will help lenders provide a better mortgage lending experience for homebuyers, giving them the Freddie Edge,” said Samuel E. Oliver III, Freddie Mac Vice President, Major Project Execution for the Single-Family Business. “This industry-leading solution gives our clients that competitive advantage.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Oct 15, 2018

Analysis and Data

Late Pays Rising for Student, Auto Loans

More of those with strong credit records have gone delinquent

Delinquencies are building across two major food groups — student loans and automobile financing — the feed credit scores and are sure to impact the ability of would-be home buyers to obtain a mortgage. The Education Department hasn’t updated its official student loan rep...

Analysis and Data

Buyers Faced Bigger Down Payments in 2024

Buyers paid an average of 14.4% of the purchase price, up from 14.2% in 2023

Down payments reached record highs in 2024, both in dollar amounts and as a share of purchase price, according to a new report from Realtor.com. The typical down payment in Q4 was $30,250, slightly below Q3 but about $3,000 higher than a year earlier. "As inventory recove...