LoanLogics, a recognized leader in loan quality technology for mortgage manufacturing and loan acquisition, has updated its LoanHD Loan Quality Management platform to make it easy for lenders to run automated checks to validate data prior to loan delivery through Fannie Mae’s EarlyCheck application on loans sold to Fannie Mae, the company announced in a release.
As an approved Fannie Mae technology vendor, LoanLogics has built a seamless interface to EarlyCheck that enables lenders to run EarlyCheck during the audit process, view the warnings and edits in the response and correct loan data errors in the loan file.
This new integration helps to assure all loan data is accurate and complete when delivered to Fannie Mae, the company said.
“Our EarlyCheck integration allows our clients to ensure every loan file has the right data points in the right place before delivery to Fannie Mae,” LoanHD Production Manager Don Smith said in the release. “Only by automating quality control checks can lenders improve loan quality, ensure data accuracy and reduce the amount of time and money spent in the process.”
Additionally, the company stated, the LoanHD Loan Quality Management platform includes a LoanFacts tool, which displays the accuracy of all data elements in loan files destined to be sold to Fannie Mae.