It has been 10 years since First Republic teamed with Trustcorp Mortgage to be the first lenders in the state--and two of the first lenders in the country--to roll out Fannie Mae's automated underwriting systems, Desktop Originator and Desktop Underwriter.
Link to Lender is a new Desktop Originator feature that enables one-click transfer of data, eliminating the need for importing, exporting or rekeying data from DO into the wholesale lender's Web site, according to GMAC.
Its interface with Fannie Mae's automated underwriting system, Desktop Underwriter (DUTM), and Desktop Originator (DOTM) enables lenders to take a loan application, receive automated underwriting decisioning and order vendor services at one location, allowing for tighter integration with loan origination systems and automated underwriting engines.
By integrating ePASS into the PowerPak desktop, PowerPak customers are offered the most streamlined process for ordering credit, title, flood, appraisals, automated underwriting, lender loan file submission and more, including the innovative DO for ePASS which provides easy and fast access to Fannie Mae's Desktop Originator.
Fannie Mae learned this lesson the hard way when Desktop Originator was released initially to brokers--reception was lukewarm until Fannie Mae embedded DO into the loan origination systems the brokers were already using.
DO for ePASS offers originators who use loan origination software (LOS) systems by Genesis 2000(R), Contour(R) The Loan Handler(TM) and Calyx(R) Point(R), streamlined access to automated underwriting recommendations from their Desktop Originator sponsoring lenders.
Larkspur, California, who has seen the secondary market corporation seek to get brokers to pressure wholesalers to adopt DU and roll its Desktop Originator piece down to them, a move he has rejected.
