Origence announced its mortgage lending platform has received certification from Fannie Mae’s Day 1 Certainty program.
By automating the verification of a borrower's identity, employment, income and assets, the Origence platform enables lenders to achieve Day 1 Certainty from Fannie Mae, while accelerating the borrower's experience and closing loans faster, the company announced in a release.
Day 1 Certainty is designed to provide lenders with enhanced loan origination controls, improved processes and certainty around the borrower's assets, income and employment information, in addition to relief from representations and warranties on validated loan components.
The Origence platform is an end-to-end system that combines powerful point-of-sale and loan origination system tools that accelerate a lender’s loan production and reduce process cycle time, while significantly reducing costs, the company said.
The Origence platform officially was launched in October and the company said it already has several key lenders using the system.
“The ability to achieve Day 1 Certainty is a crucial advantage for lenders who must meet new consumer expectations for a faster, simpler mortgage experience,” Origence President and Chief Product Officer Roger Hull said in the release. “Our Day 1 certification ensures our clients will be able to deliver faster responses to borrowers, while eliminating an enormous amount of manual effort behind the scenes. At the same time, they get a state-of-the-art platform that maximizes automation, so they can close loans faster and at a lower cost.”
The Origence platform includes tools that automate the borrower’s application process and overall lending journey as well as point-of-sale and fulfilment tools that empower lenders to reduce friction in the mortgage process. The platform also is equipped with an open application programming interface (API) and micro-services architecture for smoother integrations with third-party technologies and services, in addition to best-in-class marketing automation tools that empower lenders to increase sales opportunities and pull-through rates.
Origence is a leading provider of lending technology and solutions to the financial services industry.