Freddie Mac Announces Direct Deposit Assessment Tool

Freddie Mac Announces Direct Deposit Assessment Tool

Industry Update
February 15, 2022

Source: Mortgage Daily News

Another tool will soon be available to lenders working with Freddie Mac that is expected to speed up loan processing and reduce the paperwork involved. The company has announced a new, automated capability that will allow lenders to assess an applicant’s income that is paid through direct deposits. The new tool will be available to lenders nationwide through Freddie Mac’s Loan Product Advisor (LPA) asset and income modeler (AIM).

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