Freddie Mac Announces Direct Deposit Assessment Tool
Industry Update
February 15, 2022
Source: Mortgage Daily News
Another tool will soon be available to lenders working with Freddie Mac that is expected to speed up loan processing and reduce the paperwork involved. The company has announced a new, automated capability that will allow lenders to assess an applicant’s income that is paid through direct deposits. The new tool will be available to lenders nationwide through Freddie Mac’s Loan Product Advisor (LPA) asset and income modeler (AIM).
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