ST. LOUIS - Oct. 18, 2022 - PRLog -- OptiFunder's flagship Warehouse Management System has passed the 100,000th mark in investor purchase advices processed for its clients.
The first-of-its-kind technology platform built for mortgage originators retrieves and reconciles purchase advice statements from investors as loans are sold into the Secondary Market in near real time with minimal human interaction.
"The timing was definitely right, and the market is hungry for a platform of this type," said Brian Abbott, OptiFunder COO. "We've long been processing the data but our alignment earlier this year with Fannie Mae and Freddie Mac to automatically stream Purchase Advice data into the platform was a game changer for our clients."
In addition, OptiFunder automatically consumes PA data from over 50 investors throughout the day so that the purchase advices are retrieved and reconciled within minutes of their becoming available on investor websites.
Shortening cycle times with a lights-out loan reconciliation process improves operational efficiency and provides the bonus of reduced warehouse dwell time eliminating unnecessary interest carry charges.
Purchase Advice Automation by OptiFunder
- Retrieves PA data from Fannie Mae, Freddie Mac, and over 50 investors
- Eliminates manual data input and computational analysis
- Reconciles with expected fee data and notifies of tolerance violations
- Shortens warehouse dwell time to reduce excess borrowing interest
OptiFunder is a fully integrated and automated Warehouse Management System for mortgage bankers using multiple warehouse facilities. OptiFunder developed a patented optimization algorithm to show originators where to fund every loan to achieve the best financial performance. Additionally, OptiFunder automates the submission of funding requests, wire confirmations, trial balance reports, Purchase Advice receipt and reconciliation and shipping, providing a comprehensive solution for the mortgage origination process from funding through settlement and sale into the secondary markets. To learn more, visit: Optifunder.com | Request Demo | Media | LinkedIn
Brian Abbott, COO
Read Full Story - OptiFunder Automates 100,000th Purchase Advice | More news from this source
Press release distribution by PRLog