LOVELAND, Colo.--(BUSINESS WIRE)--Kroll Factual Data, Inc. (Kroll Factual Data), a leading provider of risk mitigation and independent verification services to the mortgage industry, and Mortgage Builder Software, Inc. (Mortgage Builder), an industry-leading provider of loan origination and loan servicing software systems, announced today their partnership and the addition of several Kroll Factual Data product integrations into Mortgage Builder systems. Kroll Factual Data’s Loan Review Report™ (LRR), a product specifically designed to help clients comply with Fannie Mae’s Loan Quality Initiative (LQI), will become available through Mortgage Builder in June 2013. Kroll Factual Data’s plan to integrate additional services, all planned for 2013, will include Third Party Verifications and Risk Mitigation services. Kroll Factual Data Bureau Express® Credit Reports and Flood Determination Reports are already integrated with Mortgage Builder.
A primary focus of Fannie Mae’s LQI is to stop the surge 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 mitigate the risk of buy-back requests. Loan Review Report is an efficient and cost-effective solution that includes a credit report, updated tradeline balances and a Mortgage Electronic Registration System (MERS) search.
“What is important to Kroll Factual Data is providing valuable solutions to our partners and the industries we support. Working with Mortgage Builder and integrating our services, like the Loan Review Report, with their system will be very beneficial to our mutual customers,” said Damon Littlejohn, Director, Channels and Alliances at Kroll Factual Data. “With the heightened scrutiny from investors on the accuracy and completeness of information supporting loan decisions, having Loan Review Report available within Mortgage Builder is timely for lenders concerned with mitigating this risk.”
“Mortgage Builder continually strives to offer our clients the tools they need to be competitive especially in light of today’s regulatory environment,” said Brian Abbott, Director of Strategic Initiatives at Mortgage Builder. “We are excited to provide Mortgage Builder clients with these additional tools that will help them comply with Fannie Mae’s LQI without leaving our LOS solution. This will be the initial phase of a multi-interface bundle to Kroll Factual Data services that will be offered through our LOS. It will be the first of its kind for Mortgage Builder in that it will provide our customers with the ability to order all credit and risk services required for a loan from a single vendor.”
About Kroll Factual Data
Kroll Factual Data is a trusted provider of independent verification services to mortgage lenders, financial institutions and property management firms. For more than 25 years, Kroll Factual Data has helped clients confidently make decisions that mitigate risk, enhance safety and soundness, and increase profitability. Kroll Factual Data is part of the Altegrity family of businesses. Altegrity is a leading global information services company with more than 10,000 employees in 30 countries united by a common mission to help government and commercial clients by uncovering, reviewing, analyzing and delivering information. For more information, visit www.krollfactualdata.com.
About Mortgage Builder Software
Southfield, Michigan-based 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. Essential enhancements like pricing and product eligibility (PPE), electronic document management (EDM) and electronic loan delivery functionality are built-in and available on demand, while compliant loan documents are provided at no additional cost. Colonnade by Mortgage Builder offers a complete loan servicing system (LSS) that is scalable and fully featured, ideal for mid-sized and larger loan servicers. The company has been named by Mortgage Technology Magazine as one of the industry’s Top 50 Service Providers for the sixth consecutive year and was the winner of the magazine’s prestigious Help Desk Award for outstanding customer service and the industry’s best technical support. Visit www.MortgageBuilder.com.
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