OptiFunder Integrates with

OptiFunderSM, a warehouse management system for the mortgage industry, has announced it is now integrated with the Fannie Mae Connect Whole Loan Purchase Advice Seller API.

The integration will expedite the processing and reconciliation of purchased loan data for mortgage bankers, the company said.

OptiFunder can now sync data from Fannie Mae automatically, eliminating the manual process of obtaining purchased loan data, and performs the computational logic required to process and  reconcile purchase advice with the client’s loan origination system (LOS). This allows originators to simplify and streamline workflow and lower discrepancies, OptiFunder said. 

Mortgage bankers see faster accounting for investor loans with detailed pricing attributes and improved accuracy, it said.

“Reconciling investor purchase advice data has long been an incredibly disconnected and labor  intensive process that impacts downstream profitability for our mortgage banking clients,”  said Brian Abbott, chief operating officer for OptiFunder. “We are pleased to work with Fannie Mae in bringing a best in class tech solution that reduces critical cycle time and improves data accuracy for our clients — no matter the LOS system they utilize.”

OptiFunder, based in St. Louis, Mo., is a fully integrated and automated warehouse management system for independent mortgage bankers using multiple warehouse facilities. It developed a patented optimization algorithm to optimize where originators fund every loan to achieve the best financial performance.

OptiFunder also automates processing of funding requests, wire confirmations, trial balance reports, purchase advice reconciliation, and shipping, providing a comprehensive solution for the mortgage origination process from funding through settlement and sale to the secondary markets, the company said.

Source

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