Tavant and Freddie Mac team to simplify loan data submission
A new partnership between digital mortgage tech company Tavant and Freddie Mac is aiming to simplify loan data submission, reports Julie Muhn at Finovate.
The two companies are collaborating on the launch of a one-click submission for Freddie Mac’s automated underwriting system, Loan Product Advisor.
The new tool leverages machine learning (ML) to enable lenders to submit loan data to both Fannie Mae and Freddie Mac in a single click and quickly receive a list of borrower options.
“We are enabling mortgage lenders to thrive in the digital era. Our partnership with Freddie Mac will increase productivity, improve accuracy in the loan decisioning and underwriting process and reduce the overall origination cycle time. It provides intelligent support throughout the loan lifecycle and reduces the overall cost of loan origination,” says Hassan Rashid, CRO of Tavant.
To kick off the partnership, California-based Tavant will pilot the new tool with four unnamed lenders.
Founded in 2000, Tavant employs more than 2,500 people who serve customers across North America, Europe and Asia-Pacific.