As Freddie Mac continues to enhance its’ North Shore Systems powered Origination and Underwriting System, they Mac has gone live with version 9.1 of the software. These key enhancements developed by North Shore have provided the Freddie Mac Seller base population with processes that have allowed for gained efficiencies in the areas of:
- Loan Approval – pipeline processing time has been reduced by over 25%, which has lowered processing cost
- Small Balance Loans – in order to accommodate the increased volumes with this loan program, a new module that provides an individual loan approval process path was included in the 9.1 release.
- Documentation — all documents, including the loan closing documentation, are generated out of the system automatically and without additional manual input from the user
- Multiple Components Structures – an enhancement to the scenarios quote module now allows for multiple Components to be structured within in one scenario quote
- Multiple Rate Locks – in conjunction with the multiple Component structures, a new feature that allows for multiple Index Rate Locks at the Component level has been developed.
This release is well on its’ way to providing Freddie Mac and it’s Seller base with the improved processes that will make 2015 a banner year for Freddie Mac and their lending affiliates.