Freddie Mac now offers an automated asset assessment through its Loan Product Advisor asset and income modeler (AIM), in partnership with Blend.
Under the partnership, any Blend customers who are Freddie Mac-approved sellers are eligible for automatic assessment of assets via AIM. The functionality removes the need to collect and underwrite asset statements, reducing the loan cycle time.
"We're honored that Freddie Mac chose Blend as an early partner to support AIM for assets," said Brian Martin, head of business development and partnerships at Blend. "These relationships underscore our commitment to working with industry leaders to rethink the mortgage process and streamline the entire home purchase journey for lenders and consumers."
"We've already started to see the benefits of digitizing our mortgage workflows, and are thrilled to see our partners at Blend continuing to innovate together with important industry stakeholders," SWBC Mortgage Chief Executive Officer Susan Stewart said. "Blend and Freddie Mac partnering to offer this new digitized service is an important advancement in helping us provide faster and easier mortgages to our customers, and we look forward to continuing on our journey together."