MortgageHippo, a consumer-centric, no-code/low-code digital lending platform, has integrated with Loan Product Advisor (LPA), the automated underwriting system (AUS) owned and maintained by Freddie Mac.
“Our new integration with LPA offers big advantages to mortgage lenders because now loan officers can run both Freddie Mac and Fannie Mae AUSs with a single click and compare the results with their borrowers,” said Valentin Saportas, CEO at MortgageHippo. “Lenders that use our web-based and mobile ready digital lending tools have always appreciated our ability to generate automated pre-approval letters for their borrowers, and now they have the comfort of knowing they can offer their borrowers the best deal. This will be increasingly important in a purchase-money mortgage market.”
Lenders that run both AUS systems can use MortgageHippo to organize the resulting data into a comparison matrix for transparency and better borrower satisfaction. The new functionality is available to lenders now and is already in production in some shops, the company said.
“We are glad to welcome MortgageHippo to our family of verified vendors,” said Kevin Kauffman, vice president, business partner integration for Freddie Mac Single-Family. “Our clients rely on Freddie Mac to deliver solutions that help them achieve speed, efficiency, compliance and accuracy and we’re very pleased that MortgageHippo now offers this single click functionality to reduce mortgage lending friction for borrowers and lenders.”