DALLAS, Texas – Oct. 15, 2018 – INTEGRA Software Systems today announced that it is collaborating with New Penn Financial and government sponsored enterprise (GSE) Freddie Mac to launch a one-click submission of loan data to Loan Product Advisor®, the GSE’s automated underwriting system (AUS). The solution will provide seamless integration that will help New Penn increase efficiency and maximize secondary market execution by allowing data to be simultaneously submitted to both GSE AUSs at point of sale.
“Our collaboration with New Penn and Freddie Mac will increase productivity, improve accuracy in the loan decisioning and underwriting process and reduce the overall origination cycle time,” said Rick Allen, Senior Vice President of Operations, INTEGRA Software. “The seamless integration between our systems will allow for more efficiency, including configuration to identify loans eligible for data validation for income, assets and collateral so New Penn can identify the loan that is most favorable to the borrower.”
INTEGRA’s web-based Epic solution allows lenders to submit loan-data via a single click to both Freddie Mac and Fannie Mae’s AUSs, enabling lenders to see the full view of options available to their borrowers and ultimately leading to an improved borrower experience. The Epic solution provides realtime data information which improves lender efficiency while streamlining the residential real estate transaction.
“We are always looking for technology that provides our team with tools to better serve our customers,” said Dena Kwaschyn, Chief Fulfillment Officer at New Penn Financial. “With results from both GSE AUSs, we can give borrowers access to more options, like appraisal waivers, so they can save money and shorten the time it takes to close a loan.”
“AUS-Neutral Design (#AND) is an innovative movement supporting the idea that lenders should run both underwriting systems to identify the best path for their borrowers and, in many instances, the optimal processing path for themselves. It is a win for everyone and we’re happy to support this positive change in the industry,” said David Fulford, Vice President of Strategic Technology Integration at Freddie Mac for the Single-Family Business.
About INTEGRA Software Systems
Established in 1996 and headquartered in Franklin, Tennessee, INTEGRA Software offers a powerful, web-based loan origination solution (Epic) to address challenges within Mortgage Lending for retail, wholesale and correspondent lenders. Epic spans point-of-sale to post-closing and secondary market for lenders interested in efficiencies gained by automating every step of the mortgage loan workflow. Over 175 interfaces are provided for Credit, Flood, MI, etc. For more information about INTEGRA Software, please visit www.integraloantech.com or contact Sales@integra-online.com or call 877-2537779.
About New Penn Financial
New Penn Financial® is a leading nationwide lender that brings expertise, extremely competitive rates on a broad portfolio of mortgage products, and exceptional customer service under one roof. Founded in 2008 and licensed in 49 states, the company and its reputation have grown under the guidance of a management team with years of experience in the mortgage industry. New Penn is headquartered in Plymouth Meeting, Pennsylvania and operates offices nationwide, including a network of JV partners. New Penn is a Shellpoint Partners company and now part of the New Residential Investment Corp. family. More information is available at www.newpennfinancial.com.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.