Wipro Gallagher Solutions added an integration to Fannie Mae’s EarlyCheck, a tool that allows lenders to run pre-closing quality control checks on mortgage applications, to its NetOxygen loan origination system.
EarlyCheck is one of the policies under Fannie’s Loan Quality Initiative umbrella. It lets lenders run mortgage documents through Fannie Mae’s data verification platform before the loan is funded and closed, giving lenders the opportunity to correct errors earlier in the origination process.
The service is available for free to approved Fannie Mae sellers. Fannie provides a Web-based interface for lenders to connect to EarlyCheck. Users upload loan documents to the browser-based service and run the check process. But since the EarlyCheck announcement, LOS developers began building what developers call “service-based integrations” to EarlyCheck—creating a direct connection to the service within the LOS environment, eliminating the extra steps of exporting loan docs and logging onto Fannie’s Web interface.
Franklin, Tenn.-based WGS joins a number of LOS vendors who began building integrations into EarlyCheck, after Fannie Mae made the tool available through a browser-based interface in late September 2010.
