For Immediate Release
Fremont Bank Implements Freddie Mac Commitment Integration in CompassPointTM
SAN FRANCISCO, CA, USA, September 5, 2018, (PRNewswire) – Compass Analytics, a driver in the financial technology sector, announced today at their User Conference that CompassPoint™ now offers commitment integration with Freddie Mac’s Loan Selling Advisor application. This integration adds to CompassPoint™’s continuously expanding library of application programming interfaces (“APIs”), and allows for a bi-directional flow of data that enables CompassPoint™ users to take out mandatory whole loan commitments directly with Freddie Mac, greatly streamlining the commitment and kamagra india best execution process.
Fremont Bank leverages the CompassPoint™ platform to fulfill their strategic goals of achieving best execution, increasing capital markets efficiency, and reducing time spent on manual processes. Mike Schlesinger, VP of Secondary Marketing at Fremont Bank, stated, “Fremont Bank puts emphasis on tools that allow our team to focus on strategy and reduce risk. This integration reduces the number of manual touch points in our loan sale process, increasing pricing accuracy and saving time.”
James Baublitz, Product Manager at Compass Analytics, added, “We are excited to offer this critical integration to Freddie Mac’s Loan Selling Advisor. The market is placing an increasing premium on time efficiency and automation. This integration is another representation of our commitment to keeping our clients on the forefront of technology in the mortgage industry.”
For Compass, the Freddie Mac Loan Advisor Suite API expands an already robust suite of loan sale tools. Users are able to use CompassPoint™’s best execution analytics to automatically group loans into larger commitments, then are able to validate the pricing used for best execution analysis with the pricing returned from Freddie before accepting the trade. In addition, the commitment detail including commitment number, pricing, rates, and expiration dates are returned to CompassPoint™ so that Compass’s middleware automation, CompassBridge™, can export the defined fields back to the clients’ loan origination system.
About Compass Analytics, LLC
Compass Analytics is an innovator in the FinTech industry and a leading provider of pricing technology to lenders. Compass develops cutting-edge analytics and offers advisory and active risk management services to mortgage bankers, traders, investors, and banks. Compass Analytics’ platform is revolutionizing the way home loans are formed and kamagra from india sold through the use of innovative real-time technology supported with services, expertise, and guidance. Compass’ suite of tools includes CompassPoint™, CompassPPE™, CompassBid™, CompassDirect™, and CompassCommit™.
Compass has offices in San Francisco, Washington, D.C., New York City, and Irvine.
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