Freddie Mac, Cloudvirga collaborate to maximize loan fungibility (Mortgage Professional America)
Apr 16, 2018
Mortgage lenders can now maximize loan fungibility in the secondary market with the launch of a single-click loan-data submission to the automated underwriting systems (AUS) of Fannie Mae and Freddie Mac.
The new functionality results from a collaborative effort between Cloudvirga and Freddie Mac. The submission feature will be available to Cloudvirga customers with Freddie Mac Loan Product Advisor’s 4.8 release.
The dual-AUS submission automates the review of each GSEs’ AUS’ findings report. The functionality applies rules-based logic and predictive analytics to determine the best path for a loan without adding manual review tasks or interfering with a loan team’s preferred origination workflow.