CoreLogic® has announced the integration of its CondoSafe product with the Ellie Mae Encompass® all-in-one mortgage management solution. CondoSafe is a one-stop condo project review tool that enables lenders to have a single, consistent, standardized review process, allowing them to determine eligibility earlier in the process, resulting in quicker approvals.
“Condo lending can often be a complex, frustrating and time-consuming process,” says Jacquie Doty, executive, Product Management for CoreLogic. “CondoSafe takes the hassle out of condo lending for lenders, providing them with a single source for important association documentations along with a report that can help them spot any potential investor or GSE-eligibility issues.”
The CondoSafe report alerts underwriters to potential Fannie Mae, Freddie Mac, Federal Housing Administration, Department of Veterans Affairs or other investor eligibility issues. Alerts are delivered in an underwriting-friendly, standardized format—allowing lenders to easily focus on areas that require more investigation—and with a standard fee for each order, there are no surprises when calculating the cost of documentation. Additionally, important documents such as CC&R’s and Insurance documentation can also be obtained in an a-la-carte manner.
“Our recent investments in workflow technology, combined with improved condo data, will provide CondoSafe users on Encompass with an unparalleled experience,” says Sapan Bafna, senior leader, Advanced Delivery Engines for CoreLogic. “When utilized within Encompass, clients will now get their condo lending information faster and all documents will be easily accessed via their eFolder.”
CondoSafe joins 15 other CoreLogic products currently integrated with the Encompass platform, including OnSite property condition reports, Instant Merge®—one of the nation’s most popular three-bureau merged credit reporting solution, flood determinations, Property Tax Estimator, LoanSafe Fraud Manager, LoanSafe Risk Manager, appraisal management services via Mercury Network® Merge Plus credit supplements, 4506-T Direct, FinalCheck LQI Compliance, automated valuation models, SSN Verification and several services within the Ellie Mae Total Quality Loan.
For more information, please visit www.corelogic.com.
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