Candor Technology Integrates with Freddie Mac's AIM Check API for Automated Income Calculations
Candor Technology has integrated its Loan Engineering System with Freddie Mac's AIM Check API to automate income calculations for W-2 borrowers. This collaboration aims to streamline the loan origination process, enhancing efficiency and potential relief from repurchase obligations.
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Candor Technology's integration with Freddie Mac's AIM Check API allows for automated income calculation for W-2 borrowers, enhancing the efficiency of the Loan Engineering System (LES). This partnership enables clients to submit income data in a single workflow, evaluated concurrently by LES and Freddie Mac's Loan Product Advisor (LPA), which is expected to improve turn times and loan quality.
The automation targets the income documentation process, which historically accounts for a significant portion of loan defects. The initiative could minimize underwriting errors and reduce risks associated with repurchase obligations, benefiting both lenders and borrowers.
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