{"id":23682,"date":"2024-06-05T13:35:59","date_gmt":"2024-06-05T13:35:59","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=23682"},"modified":"2024-06-05T13:36:01","modified_gmt":"2024-06-05T13:36:01","slug":"freddie-mac-tool-aims-to-ease-mortgage-paperwork","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\/","title":{"rendered":"Freddie Mac Tool Aims to Ease Mortgage Paperwork"},"content":{"rendered":"\n<p>Freddie Mac is launching an automated method for lenders to assess prospective borrowers\u2019 income that is paid through direct deposits. The tool is intended to help reduce the paper documentation burden on borrowers so loans can close faster, Freddie Mac says.<\/p>\n\n\n\n<p>The income assessment tool will be available to mortgage lenders nationwide and can be used, with a borrower\u2019s permission, to assess income made by direct deposits into accounts. More than 93% of U.S. workers are paid by direct deposit, according to the American Payroll Association.<\/p>\n\n\n\n<p>The tool also can assess an applicant\u2019s income from employer data and review tax return data for self-employed individuals.<\/p>\n\n\n\n<p><a href=\"https:\/\/sf.freddiemac.com\/content\/_assets\/resources\/pdf\/fact-sheet\/mortgage-cycle-time-benchmark-study.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">A Freddie Mac study(link is external)<\/a> recently showed how lenders using such tools can shorten average cycle times for processing loan requests by up to 15 days.<\/p>\n\n\n\n<p>\u201cOur direct deposit solution is an innovative, data-driven approach that takes minutes, not days, to assess income so our clients can serve more borrowers more efficiently,\u201d says Matt Vincent, Freddie Mac\u2019s single-family vice president of credit and capacity. \u201cSourcing data directly from the mortgage applicant\u2019s bank account increases accuracy, removes subjectivity, reduces manual underwriting errors and delivers a better experience for borrowers and lenders.\u201d<\/p>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Freddie Mac is launching an automated method for lenders to assess prospective borrowers\u2019 income that is paid through direct deposits. The tool is intended to help reduce the paper documentation burden on borrowers so loans can close faster, Freddie Mac says. The income assessment tool will be available to mortgage lenders nationwide and can be &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-23682","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Freddie Mac Tool Aims to Ease Mortgage Paperwork - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Freddie Mac Tool Aims to Ease Mortgage Paperwork\",\"datePublished\":\"2024-06-05T13:35:59+00:00\",\"dateModified\":\"2024-06-05T13:36:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\\\/\"},\"wordCount\":215,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/freddie-mac-tool-aims-to-ease-mortgage-paperwork\\\/\",\"name\":\"Freddie Mac Tool Aims to Ease Mortgage Paperwork - 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. 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