PRESS RELEASE: Floify Announces Integration with Freddie Mac Loan Product Advisor (LPA)
Partnership integrates Floify's mortgage point-of-sale solution with Freddie Mac’s Loan Product Advisor to seamlessly provide loan originators with access to credit requirements and a view of credit worthiness to assess overall underwriting risk
Boulder, CO – December 7, 2021 – Floify, the mortgage industry's leading point-of-sale solution and subsidiary of Porch Group, Inc. ("Porch") (NASDAQ: PRCH), today announced the integration of Freddie Mac Loan Product Advisor® (LPASM) to the Floify platform, offering concurrent access to the two largest mortgage Automated Underwriting Systems (AUSs).
The Floify platform leverages automation to increase the efficacy and speed of the mortgage origination process. Through the partnership with Freddie Mac, Floify+ and Floify TPO users will be capable of running loan eligibility findings across LPA, the Fannie Mae Desktop Underwriter (DU) or both simultaneously and downloading a variety of LPA report types from AUS findings. Adding the LPA integration to the current Floify offering provides brokers and third-party loan originators (TPOs) instant access to eligibility requirements through LPA and DU, reducing common bottlenecks and fees, providing an edge to Floify users.
"The inclusion and integration of LPA with our platform provides our users unprecedented access, accuracy, and speed in a complex system," said Dave Sims, CEO of Floify. "We're building the next evolution of the mortgage, driving innovation in an outmoded space. With Floify, we're seeking to reduce the friction between the lender, broker, and borrower, and integrating LPA demonstrates our commitment to creating a better mortgage solution and origination process."
In conjunction with the integration of LPA with the Floify platform, the company has also added "Apply Now" inputs to increase the accuracy of LPA-specific eligibility results.
“Floify's innovative approach to mortgage automation and the positive impact they've had on our industry makes them a natural fit as a trusted integration partner,” said Christina Randolph, Freddie Mac Single-Family Director, Partnerships, and Integration,” “Expanding our capabilities within cutting-edge digital lending platforms will further enhance the home buying process and our mission to make home possible.”
Floify is a digital mortgage automation and point-of-sale solution that streamlines the loan origination process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Lenders use Floify to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. Floify is based in Boulder, Colorado. For more information, visit the company's website at floify.com or on social media at Facebook, LinkedIn, or Twitter.