Origence Approved for Fannie Mae's Day 1 Certainty Program
November 19, 2019
Origence has announced that the Origence mortgage lending platform has been approved by Fannie Mae's Day 1 Certainty® program. By automating the verification of a borrower's identity, employment, income and assets, the Origence platform will enable lenders to achieve Day 1 Certainty® from Fannie Mae, while accelerating the borrower's experience and closing loans faster.
Fannie Mae's Day 1 Certainty® initiative is designed to provide lenders with enhanced loan origination controls, improved processes and certainty around the borrower's assets, income and employment information, in addition to relief from representations and warranties on validated loan components.
The Origence platform is an end-to-end system that combines point-of-sale (POS) and loan origination system (LOS) tools that accelerate a lender's loan production and reduce process cycle time, while significantly reducing costs. The Origence platform was officially launched in October.
"The ability to achieve Day 1 Certainty® is a crucial advantage for lenders who must meet new consumer expectations for a faster, simpler mortgage experience," said Roger Hull, president and chief product officer for Origence. "Our Day 1 certification ensures our clients will be able to deliver faster responses to borrowers, while eliminating an enormous amount of manual effort behind the scenes. At the same time, they get a state-of-the-art platform that maximizes automation, so they can close loans faster and at a lower cost."
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