Using Machine Learning, Freddie Mac Announces Automated Underwriting That Can Save Mortgage Originators Up To $1,500 Per Loan
Freddie Mac (OTCQB: FMCC) has announced significant automations to its underwriting process through enhanced Loan Product Advisor® (LPA®) technology. The update, leveraging machine learning, can help mortgage originators save up to $1,500 per loan and reduce loan production cycle time by 5 days. The company also introduced the Freddie Mac Income Calculator, a free tool helping lenders calculate income for gig economy and self-employed borrowers.
The automation improvements include enhanced automated collateral evaluation (ACE) waivers, which have saved families over $2 billion in appraisal costs since 2017. The LPA Choice® feature has helped qualify an additional 18,000 borrowers for mortgages. A fully digitized mortgage process can reduce costs by up to 40%, with lenders using automation seeing 14% cheaper origination costs and higher customer satisfaction.
Freddie Mac (OTCQB: FMCC) ha annunciato importanti automazioni nel suo processo di sottoscrizione grazie alla tecnologia avanzata del Loan Product Advisor® (LPA®). L’aggiornamento, basato sull’apprendimento automatico, può aiutare i promotori ipotecari a risparmiare fino a 1.500 dollari per prestito e ridurre il tempo del ciclo di produzione del prestito di 5 giorni. L’azienda ha inoltre introdotto il Freddie Mac Income Calculator, uno strumento gratuito che aiuta i finanziatori a calcolare il reddito di lavoratori autonomi e gig economy.
Le migliorie nell’automazione includono esenzioni migliorate per la valutazione automatizzata del collaterale (ACE), che hanno permesso alle famiglie di risparmiare oltre 2 miliardi di dollari in costi di perizia dal 2017. La funzione LPA Choice® ha contribuito a qualificare ulteriori 18.000 mutuatari per i mutui. Un processo ipotecario completamente digitalizzato può ridurre i costi fino al 40%, con i finanziatori che utilizzano l’automazione che registrano costi di origine più bassi del 14% e una maggiore soddisfazione del cliente.
Freddie Mac (OTCQB: FMCC) ha anunciado importantes automatizaciones en su proceso de suscripción mediante la tecnología mejorada del Loan Product Advisor® (LPA®). La actualización, que utiliza aprendizaje automático, puede ayudar a los originadores de hipotecas a ahorrar hasta $1,500 por préstamo y reducir el tiempo del ciclo de producción del préstamo en 5 días. La compañía también presentó el Freddie Mac Income Calculator, una herramienta gratuita que ayuda a los prestamistas a calcular ingresos para prestatarios autónomos y de la economía gig.
Las mejoras en la automatización incluyen exenciones mejoradas de la evaluación automatizada de garantías (ACE), que han ahorrado a las familias más de $2 mil millones en costos de tasación desde 2017. La función LPA Choice® ha ayudado a calificar a 18,000 prestatarios adicionales para hipotecas. Un proceso hipotecario completamente digitalizado puede reducir costos hasta en un 40%, con prestamistas que usan automatización experimentando costos de originación un 14% más bajos y mayor satisfacción del cliente.
프레디 맥(OTCQB: FMCC)은 향상된 Loan Product Advisor® (LPA®) 기술을 통한 언더라이팅 프로세스의 대대적인 자동화를 발표했습니다. 머신러닝을 활용한 이번 업데이트는 주택담보대출 중개업자들이 대출당 최대 1,500달러를 절감하고 대출 생산 주기를 5일 단축할 수 있도록 돕습니다. 또한, 회사는 긱 이코노미 및 자영업자 대출자의 소득 계산을 지원하는 무료 도구인 Freddie Mac Income Calculator를 도입했습니다.
자동화 개선 사항에는 2017년 이후 가족들이 20억 달러 이상의 감정 비용을 절감한 향상된 자동 담보 평가(ACE) 면제 기능이 포함되어 있습니다. LPA Choice® 기능은 추가로 18,000명의 대출자가 주택담보대출 자격을 갖추도록 도왔습니다. 완전 디지털화된 모기지 프로세스는 비용을 최대 40%까지 줄일 수 있으며, 자동화를 사용하는 대출 기관은 14% 저렴한 대출 원가와 더 높은 고객 만족도를 경험하고 있습니다.
Freddie Mac (OTCQB : FMCC) a annoncé des automatisations significatives de son processus de souscription grâce à une technologie améliorée du Loan Product Advisor® (LPA®). Cette mise à jour, utilisant l'apprentissage automatique, peut aider les originataires de prêts hypothécaires à économiser jusqu'à 1 500 $ par prêt et à réduire le cycle de production des prêts de 5 jours. L'entreprise a également lancé le Freddie Mac Income Calculator, un outil gratuit aidant les prêteurs à calculer les revenus des emprunteurs de l'économie gig et des travailleurs indépendants.
Les améliorations de l'automatisation incluent des dérogations améliorées à l'évaluation automatisée des garanties (ACE), qui ont permis aux familles d'économiser plus de 2 milliards de dollars en frais d'évaluation depuis 2017. La fonction LPA Choice® a permis de qualifier 18 000 emprunteurs supplémentaires pour des prêts hypothécaires. Un processus hypothécaire entièrement numérisé peut réduire les coûts jusqu'à 40%, les prêteurs utilisant l'automatisation constatant des coûts d'origine inférieurs de 14 % et une satisfaction client accrue.
Freddie Mac (OTCQB: FMCC) hat bedeutende Automatisierungen in seinem Underwriting-Prozess durch verbesserte Loan Product Advisor® (LPA®)-Technologie angekündigt. Das Update, das maschinelles Lernen nutzt, kann Hypothekenanbietern helfen, bis zu 1.500 USD pro Darlehen zu sparen und die Laufzeit der Darlehensproduktion um 5 Tage zu verkürzen. Das Unternehmen hat außerdem den Freddie Mac Income Calculator eingeführt, ein kostenloses Tool, das Kreditgebern hilft, das Einkommen von Gig-Economy- und selbstständigen Kreditnehmern zu berechnen.
Die Automatisierungsverbesserungen umfassen verbesserte automatische Besicherungsbewertungs-(ACE)-Ausnahmen, die Familien seit 2017 über 2 Milliarden USD an Gutachterkosten eingespart haben. Die LPA Choice®-Funktion hat geholfen, zusätzlich 18.000 Kreditnehmer für Hypotheken zu qualifizieren. Ein vollständig digitalisierter Hypothekenprozess kann die Kosten um bis zu 40% senken, wobei Kreditgeber, die Automatisierung nutzen, um 14 % günstigere Entstehungskosten und eine höhere Kundenzufriedenheit verzeichnen.
- Machine learning automation can save lenders up to $1,500 (14%) per loan
- Reduces loan production cycle time by 5 days
- ACE waivers have saved families over $2 billion in appraisal costs since 2017
- LPA Choice enabled 18,000 additional borrowers to qualify for mortgages
- New Income Calculator tool improves income calculation for gig economy workers
- Full digitization can reduce mortgage process costs by up to 40%
- None.
Freddie Mac encourages lenders to pass savings on to customers
MCLEAN, Va., May 15, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced automations to its underwriting to further reduce costs, create greater efficiency and improve the origination process for both borrowers and lenders.
Utilizing machine learning, this new technology is included in Loan Product Advisor® (LPA®) effective today, as the company is greenlighting on-hold innovation, cost reduction and delighting the customer as a result of the mandate to use technology from U.S. Federal Housing FHFA Director and Chairman of Freddie Mac’s Board of Directors, William J. Pulte.
“It’s the year 2025, and the time to streamline the homebuying experience is now. Under the leadership and guidance of Director Pulte, we expedited this version of LPA® to increase efficiency and further lower costs,” said Sonu Mittal, Freddie Mac’s Executive Vice President and Head of Single-Family Acquisitions.
“After the last 4 years of astronomical inflation, it is important that we lower costs any way we can, and we encourage lenders to use this technology to pass savings onto customers, effective immediately,” said William J. Pulte, Chairman of Freddie Mac.
Freddie Mac is also launching a new feature called Freddie Mac Income Calculator, a free online tool to help potential homebuyers in the gig economy by enabling lenders to more accurately and efficiently calculate wage earner and self-employed borrower income. Later this year, more options will be added to also factor in pensions, social security and rental income.
Today’s update also drives cost savings through a wide range of additional enhancements, including early insights on the automated collateral evaluation (ACE) waivers that have already saved families more than
Lenders who utilize machine learning-based automations through LPA save money, have shorter cycle times and have greater customer satisfaction, according to a recent analysis. A fully digitized mortgage process can help save up to
LPA’s new enhancements are available immediately. Lenders should check with their platform providers for specific release dates on their LOS systems.
About Freddie Mac
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn more: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT:
Chad Wandler
703-903-2446
Chad_Wandler@FreddieMac.com
FAQ
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