OptiFunder's WMS partners with Freddie Mac for First of Its Kind Purchase Advice Automation
By: OptiFunder Corp.
ST. LOUIS - Sept. 12, 2022 - PRLog -- OptiFunderSM today announced its flagship Warehouse Management System (WMS) for mortgage bankers will now integrate with Freddie Mac's Cash Settlement Purchase Statement API for a first-of-its kind solution to expedite the processing and reconciliation of purchase statement data.
The enhancement, available immediately to all OptiFunder members, streams purchase statement data from Freddie Mac automatically and reconciles the data with expected values in the Loan Origination System (LOS). The solution allows originators to collect, analyze, and reconcile hundreds of pieces of purchase statement data in seconds providing faster accounting for loans with detailed pricing attributes and improved accuracy.
"Our mission to eliminate rote processes for mortgage originators' funding and accounting teams via instantaneous, secure data transfer has tremendous positive impact on downstream profitability. We are giving time back to those groups for more meaningful tasks and helping our clients scale through all parts of the business cycle," states Brian Abbott, Chief Operating Officer for OptiFunder. "We are thrilled to share the vision through our integration with Freddie Mac in bringing best in class technology offerings that reduce cycle time and improve data accuracy for our clients."
"We are pleased to deliver our mutual customers a streamlined post-funding reconciliation process," said Kevin Kauffman, Freddie Mac Single-Family Vice President of Client Engagement. "The integration of our Cash Settlement Purchase Statement with OptiFunder is yet another example of Freddie Mac's continuous commitment to modernize the mortgage process and deliver value through innovative technology partnerships."
OptiFunder is a fully integrated and automated Warehouse Management System for mortgage bankers using multiple warehouse facilities. OptiFunder developed a patented optimization algorithm to show originators where to fund every loan to achieve the best financial performance. Additionally, OptiFunder automates the submission of funding requests, wire confirmations, trial balance reports, Purchase Advice receipt and reconciliation and shipping, providing a comprehensive solution for the mortgage origination process from funding through settlement and sale into the secondary markets. To learn more, visit: Optifunder.com | Request Demo | Media
Brian Abbott, COO