GMAC Bank Enhances 'Link to Lender'

GMAC Bank Wholesale Lending, Horsham, Pa., has introduced an enhanced version of Link to Lender, a joint effort with Fannie Mae that it says "significantly streamlines" the loan submission and registration process for brokers and correspondents who select GMAC Bank as the sponsoring lender when they use Fannie's Desktop Originator.Link to Lender is a new DO feature that enables one-click transfer of data, eliminating the need for importing, exporting, or re-keying data from DO into the wholesale lender's website, GMAC said. With the updated version of DO, GMAC will receive immediate electronic notification of an automated underwriting submission and automatically register or update the loan record on its system. "Link to Lender corrects what was a fragmented process for brokers and correspondents," said Matthew Detwiler, vice president of wholesale lending for GMAC Bank. "It strengthens an already powerful tool by letting DO be the single point of entry for a complete loan registration process."