But among brokers, an industry that now accounts for more than half of all originations nationally, Fannie Mae has an edge with the Desktop Originator front-end piece of its DU system.
Fannie markets to the brokers, so brokers ask for Desktop Originator," says Old Kent's Van Dyke.
Fannie Mae is very active in wanting the brokers to sign up for the Desktop Originator software," says Jane Hostvedt, president and owner of Puget Sound Mortgage Brokers, Puyallup, Washington, and 1998 winner of Fannie Mae's Broker of the Year award.
The second tool in our suite of workstations is Desktop Originator.
Like all the systems we are developing, Desktop Originator is a modular system that lenders may integrate into their current system.
We are actively working with five software companies and are in discussions with several others to integrate both Desktop Originator and Desktop Underwriter with their origination software to increase the universality of both tools.
DO for ePASS provides seamless integration of Desktop Originator into the major loan origination systems," said Sig Anderman, CEO of Ellie Mae.
Additionally, the Desktop Originator Findings are returned within less than a minute, and are presented in a lender-branded, user-friendly format.
Originators using DO for ePASS have the benefit of Password Manage(SM), Ellie Mae's new utility that automatically populates lender and Desktop Originator passwords and user IDs, eliminating the challenge of remembering multiple lender passwords.
More than 170,000 originators will have access to both DO for ePASS and to 160 Fannie Mae Desktop Originator sponsoring lenders.
By providing them with these tools, originators can access underwriting recommendations from their Desktop Originator participating lenders easier than ever before.