Now Running in Floify: Dual AUS
Floify's powerful new Dual AUS functionality empowers loan originators to further increase the overall efficiency of their workflow, remove the need to switch between systems, and get instant AUS results from anywhere, anytime, in the platform's mobile-friendly web portal.
Fully-integrated with Fannie Mae's Desktop Underwriter® (DU®) and Desktop Originator® (DO®) AUS systems as well as Freddie Mac's Loan Product Advisor® (LPA℠) AUS, this new productivity booster helps loan origination teams spend less time managing data between systems and more time processing files and closing loans.
Dynamically Compare Findings
Run Fannie. Run Freddie. Run both! With Floify's Dual AUS, LOs are able to leverage a single data source for the purpose of ordering AUS findings simultaneously from both GSEs.
Results can be compared side-by-side to make it easy for LOs to identify potential appraisal waivers or documentation differences and determine the best possible path forward for their borrowers.
Use With or Without an Integrated LOS
Floify's Dual AUS solution was designed and built in a similar fashion to the rest of the platform: with maximum flexibility. Lenders leveraging a Floify LOS integration are able use their LOS connection to pull the required data for Dual AUS*. Originators not integrated with an LOS can instead utilize the flow's 1003 application as the primary source for borrower and loan data.
This flexibility makes it easy for any loan originator to begin using Dual AUS without having to modify their existing workflow or data structures.
* Version 1 of Dual AUS supports direct data connection via Encompass, BytePro, and MeridianLink LOS. Support for other LOS integrations will follow.
New Apply Now Application Fields
To ensure that customers are able to get the most accurate AUS results possible, new data fields that are only visible to LOs have been added to Floify's Apply Now 1003 loan application. These fields include:
- Lender Loan Info > Property & Loan Info > If Loan Type = Refinance, "Does the borrower qualify for the Freddie Mac Refi Possible program?" Yes/No toggle
- Lender Loan Info > Mortgage Loan Info > "Estimated Prepaid Items" dollar amount input
- Lender Loan Info > If Project Type = Condominium or Cooperative, new "Project Design Type" dropdown with options: Garden Project, High-Rise Project, Mid-Rise Project, Townhouse/Rowhouse and Other
- Real Estate > Add Real Estate > "Net Rental Income" dollar input
- Real Estate > Add Real Estate > “Is this the subject property for this loan?" Yes/No toggle
- Assets > Add Other Asset > "Asset Type" dropdown with options Liquid Asset and Non-Liquid Asset
- Assets > If Asset Type = Earnest Money, Employer Assistance, Lot Equity, Relocation Funds, Rent Credit, Sweat Equity, or Trade Equity > "Credit Source Type" dropdown with options: Property Seller, Borrower Paid Outside Closing, Employer, Parent, Non-Parent Relative, Unrelated Friend, Lender, Real Estate Agent, Federal Agency, State Agency, Local Agency, Builder Developer, and Other
- Liabilities > Add Liability > "Exclude this liability from loan calculations" Yes/No toggle
- Your/Co-Borrower Info > Demographics > "Declarations for Applications Taken in Person" section
Configure and Start Running Dual AUS Today
Dual AUS setup in Floify is quick and easy for company managers. The feature requires either an active Floify credit integration or manually entered credit reference number as well as credentials to complete integration with the AUS systems.
New APIs for Pre-approval Letter Generation
Floify is also releasing two new APIs that help our lender customers provide unique value to their Realtor referral partners. With these new connections, real estate companies are able to develop custom solutions within their own tools to dynamically create and/or retrieve pre-approval letters from Floify loan flows.
These APIs maintain all of the familiar controls and limits that LOs have become accustomed to with Floify's pre-approval letter generator. Permissions and loan limits are still set by the origination team for each individual loan. Within those parameters, a real estate company can self-generate a letter from their own CRM, transaction management platform, or other system, via API.