Kroll Factual Data, Inc. and Mortgage Builder Software, Inc., an industry-leading provider of loan origination and loan servicing software systems, announced today the release of Kroll Factual Data’s Loan Review Report™ (LRR) into Mortgage Builder systems. LRR, a product specifically designed to help clients comply with Fannie Mae’s Loan Quality Initiative (LQI), is available to Mortgage Builder users without ever having to leave the loan file. In addition, Kroll Factual Data’s Third Party Verifications and Risk Mitigation services will be integrated with Mortgage Builder in the near future and will join previously integrated Bureau Express® Credit Reports and Flood Determination Reports.
A primary objective of Fannie Mae’s LQI is to reduce the rise of repurchase demands by capturing critical loan data earlier in the lending process and validating it before, during and immediately after loan delivery. Kroll Factual Data’s Loan Review Report simplifies the process of identifying undisclosed liabilities, helping lenders comply with the guidelines established in the LQI and helping mitigate the risk of buy-back requests. Loan Review Report is a cost-effective solution that includes a credit report, updated tradeline balances and a Mortgage Electronic Registration System (MERS) search.
About: Kroll Factual Data is a trusted provider of independent verification services to mortgage lenders, financial institutions and property management firms.
About: Mortgage Builder Software, Inc. has been providing industry-leading loan origination software (LOS) to mortgage banks, community banks, credit unions and other financial institutions since 1998. Mortgage Builder was the first LOS to provide its full capabilities in Application Service Provider (ASP) form, as Software as a Service (SaaS), in the traditional licensed, server-based configuration and now in a fully browser-based environment, providing complete flexibility to suit all clients’ business models. Architect by Mortgage Builder™ is an end-to-end, “everything’s integrated” lending solution for retail, wholesale and correspondent mortgage production channels, automating origination, closing, post-closing and delivery, as well as tracking and reporting functions.