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PriceMyLoan Announces Direct Integration with Desktop
Underwriter and Desktop Originator
COSTA MESA, CA
- February 22, 2008 - Automated underwriting
technology vendor PriceMyLoan (PML) announced today the completion
of a direct integration with Fannie Mae's Desktop Originator
(DO) and Desktop Underwriter (DU ). The integration
allows lenders using PML to submit loan casefiles and credit
reports directly to DO/DU to obtain underwriting recommendations.
"We are proud of this integration because of the added efficiencies
it provides for our customers," said Gigi Campbell, director
of national sales at PML. "This integration underscores our
ability to meet the high standards set by Fannie Mae, and
adds immense value to our system."
The integration gives PML users the ability to:
- Access both DO and DU.
- Automatically populate loan casefile information for submission
to DO and DU.
- Order new credit reports or reissue existing credit reports.
- Populate loan data, credit report data and DO or DU findings
in PML.
"The interface is really a convenience feature but it's had
a measurable effect on our processing," said Prince Aurora,
president of Aurora Mortgage, a mortgage lender based in Virginia.
"We no longer have to go through the process of exporting,
saving and then manually importing files into DU. The PriceMyLoan
integration with DO/DU saves Aurora about fifteen to twenty
minutes per file. With the volume of conforming products we're
currently processing, that's a significant amount of savings."
About PriceMyLoan
PriceMyLoan is a proprietary product of Insight Lending
Solutions (ILS). Founded in 2002, ILS provides web-based application
service for the mortgage lending industry and software as
a service (SaaS) to its clients to enhance productivity, reduce
IT dependency, and accelerate time-to-value for mortgage companies.
Combining advanced technology development using XML and MISMO
standards with high-quality service, ILS provides its clients
with solutions that result in reduced loan cycle times, improved
pull-through rates, and a lowered total cost of software ownership.
For more information, please visit www.pricemyloan.com.
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Contact: Linn Cook
PriceMyLoan
(714) 957-6335
lncook@pricemyloan.com
www.pricemyloan.com
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