Avista Solutions, a provider of a Web-based, end-to-end loan origination system (LOS), has integrated EarlyCheck, a new service from Fannie Mae that lets lenders identify and correct loan eligibility and data issues at any point in the business process.
Avista Solutions completed the integration when Fannie Mae made EarlyCheck available to LOS providers during the weekend of Sept. 25 and 26. EarlyCheck allows lenders to identify potential problems prior to loan delivery by giving them early access to certain Fannie Mae Loan Quality Initiative checks. These include checks for DU Compare, Social Security number checks, occupancy checks, address checks, unit number checks, debt-to-income checks, loan-limit checks and checks for required delivery fields.
The initial release of the service does not include checks for product eligibility, customer contract and commitment, or pooling rules. It can be used at any point in the loan process, such as during underwriting, prior to loan closing and during post-closing.
SOURCE: Avista Solutions