EarlyCheck has arrived, according to a recent announcement from ""Wipro Gallagher Solutions"":http://www.gogallagher.com/ (WGS). The company will roll out its new component via the NetOxygen loan origination system, and EarlyCheck will target compliance with ""Fannie Mae's"":http://www.fanniemae.com/kb/index?page=home Loan Quality Initiative.[IMAGE]
Gallagher's aptly named EarlyCheck platform offers users enhanced tools to determine issues related to eligibility and data earlier in the mortgage loan process, cutting down on the volume of loans rejected by the GSE due to incorrect information.[COLUMN_BREAK]
The Web-based interface is compatible with any underwriting method and no user fees will be incurred for checks during EarlyCheck's initial release.
Once a loan application is completed, those utilizing EarlyCheck can enter it into the program for an immediate report that will catalog any discrepancies identified.
EarlyCheck users gain advantages including reduced manual error resolution, fewer steps in the delivery process, less instance of funding delays due to deliver problems, real-time loan-level results, and an overall support system for easy verification of borrower data.
Commenting on the platform, Narayan Bharadwaj, head of business for WGS, said, ""NetOxygen's seamless integration with EarlyCheck enables our users to proactively identify and correct any potential hiccups that could hold up the loan delivery process. This greatly saves time and eliminates unnecessary frustration for lenders interested in closing more loans.""
Tennessee-based Gallagher is a leading provider of end-to-end loan origination technologies and services for financial institutions, focusing on cost-effective methods of information management.