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Lodasoft is now offering single-click submissions of loan data to both Freddie Mac and Fannie Mae’s automated underwriting systems, in hopes to deliver greater transactional ease and operational efficiency, according to a press release.
Mortgage lenders who leverage Lodasoft's mortgage technology solutions will now have the ability to run an application through both systems, with a single click, to quickly identify the best option for the borrower upfront. The dual-AUS submission and review process will also allow lenders to maximize loan fungibility in the secondary market and improve loan quality through automation.
"These solutions help lenders who have committed significant investment provide borrowers with an even better end-to-end digital experience," said David Fulford, Freddie Mac Single-Family vice president of Lender Strategy and Integration.
According to Lodasoft, the single-click dual AUS system identifies the best product for the borrower as early as possible but can also reduce loan cycle times by days or even weeks.
"By submitting loan data via a single click to both Freddie Mac and Fannie Mae, lenders can see the full view of options available to their borrowers and ultimately deliver an improved experience. This also helps save money and allows lenders to close loans faster," said Adam Batayeh, president of Lodasoft.
