MortgageFlex Technology Certified by Freddie Mac
MortgageFlex Systems has received certification from Freddie Mac that will result in the processing of investor loans over a secure Internet communications channel between the government-sponsored enterprise and its customers.
As part of the certification process, MortgageFlex tested the new communications protocol that will enable the loan processing.
"We worked closely together on this project to ensure that the right protocol was created and tested for functionality," said Tom Peugh, implementation project manager for MortgageFlex, in a news release.
Freddie Mac servicers and service bureaus will use the new communications method, which replaced a less versatile, dedicated connection, he said.
"We wanted to use this for servicing and we knew Freddie Mac was upgrading their Internet interfaces, so we volunteered to help them with the final touches (beta, development changes)," Mr. Peugh said. "This helped them define their end interface parameters while we set up ours."
Freddie Mac will use a secure FTP site, so that an Internet file can be transmitted in a secure mode.
Hemisphere National Bank, Miami, will be the first Freddie Mac/MortgageFlex customer to make use of the new Internet connection.
(c) 2005 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com