PathSoftware [1], a cloud-based mortgage loan origination software (LOS) from CalyxSoftware [2], announced an integration with First American Mortgage Solutions' FraudGuard [3], a risk management tool that increases the efficiency of application reviews to help mitigate risk and improve loan quality. The tool, called DirectConnect, leverages advanced analytics, reporting, defect trending and audit trails, drawing on public, private and proprietary data sources collected from over 28 million reviewed loans, according to the press release [4].
The integration allows PathSoftware consumers to easily access FraudGuard without leaving the system to run automated decision support services that provide critical data insights. The implementation of DirectConnect allows residential lenders, including credit unions, to streamline operations and become more efficient through process and workflow automation, data aggregation and risk analysis. The integration also gives lenders the knowledge to originate compliant loans, which allows them to provide homebuyers with a faster loan approval and a better customer experience.
Kevin Wall, President of First American Mortgage Solutions, expressed his enthusiasm surrounding the partnership. “We’re thrilled to be the first risk mitigation provider to integrate with the PathSoftware LOS,” he said. “FraudGuard is designed to improve loan quality, and the more we can do to give lenders the convenience and confidence to quickly produce higher quality loans, the better the experience and outcome for everyone, including consumers.”