NMP - October 2016 - 12

newtomarket Freddie Mac Launches New Front-End Risk Transfer Offering OCTOBER 2016 n National Mortgage Professional Magazine n NationalMortgageProfessional.com 12 Freddie Mac has announced a new front-end credit risk transfer offering, Freddie Mac Deep MI CRT. Through a forward credit insurance policy by a panel of mortgage insurance company affiliates, this pilot structured transaction provides additional coverage beyond the primary mortgage insurance on 30-year fixed-rate mortgages (FRMs) with 80-95 percent LTVs-which is placed immediately upon their sale to Freddie Mac. Transactions are executed via a competitive, transparent auction process. "Deep MI CRT builds on the success of our Agency Credit Insurance Structure (ACIS) program and is the first credit risk transfer offering in the market with a flow-basis structure on loans purchased from our diverse lender base," said Kevin Palmer, senior vice president of credit risk transfer at Freddie Mac. "The pricing certainty provided by day one coverage offers us an economically sensible way to transfer mortgage credit risk away from taxpayers. Deep MI CRT embodies all the core elements of our single-family credit risk transfer program, and also helps us expand our important relationships with mortgage insurers. Risk transfer outside of the capital markets is a meaningful part of our singlefamily credit risk transfer strategy and we continue to explore options to expand our front-end risk transfer offerings." Freddie Mac has led the market in introducing new credit risk-sharing initiatives with Structured Agency Credit Risk (STACR) debt notes, ACIS and Whole Loan Securities (WLS), and was the first agency to market these types of credit risk transfer transactions. "MBA appreciates Freddie Mac's efforts to bring more private capital into the market through the credit-risk transfer offering they recently announced," said David H. Stevens, CMB, president and CEO of the Mortgage Bankers Association (MBA). "In this early stage of the credit risk transfer market, it is important to experiment with different transactions and structure types to evaluate their long term economic and competitive impact. Mortgage insurance offers a well-developed, scalable solution that would benefit consumers and is something that all lenders could use today." New Communication Tool From AFR Streamlines the Mortgage Process American Financial Resources Inc. (AFR) has announced that it will be launching MyLoanCenter, a new B2B technology solution to streamline and improve the way brokers communicate with their customers. MyLoanCenter is a free, mobile-optimized platform that facilitates real-time communication between the broker, borrower and lender, as well as effective monitoring of the loan at every stage of the process. It can help brokers better manage their client relationships and keep track of important transactions, while empowering the borrower by allowing them to remain constantly apprised of their loan status. The platform offers a range of innovative features, which include: l Admin Control: Customizable settings that allow brokers to apply personal branding to the platform interface, create and manage internal teams, edit branch permissions and more. l Loan Pipeline and Pipeline Management: Enables brokers to view and sort their existing loan pipeline, register new loans, access pricing, order appraisals and conduct a loan estimate review. l Loan Feed: Provides brokers and borrowers alike with the opportunity to view real-time updates pertaining to the status of their loan, and any outstanding action items. l Newsroom: Helps users to remain abreast of pertinent news regarding regulatory updates, industry news and updates to the platform. l Data Sync: MyLoanCenter enables instant upload of necessary client and broker documents. "Technology has transformed the lives of everyday Americans in recent years and, now more than ever, they require tools that simplify and streamline seemingly complex tasks such as applying for a mortgage," said Bill Packer, CIO at American Financial Resources. "The development of this tool underscores not only American Financial Resource's pioneering mindset, but its commitment to ensuring an optimal experience for both brokers and lenders." OpenClose Adds Rate Sheet Generator to DecisionAssist OpenClose has announced that it has added a rate sheet generator to its product and pricing engine (PPE), DecisionAssist. The new functionality quickly and efficiently automates rate sheet creation for timely distribution to branches and originators. The rate sheet generator empowers lenders with straightforward point and click capability to set up programs and map products themselves without OpenClose assistance. Lenders are also able to add or remove investors as needed, and investor programs can be white-labeled or displayed, depending on lender preferences. DecisionAssist keeps pricing up-to-date in real-time to ensure that all loans are priced with precision-based accuracy. Best execution can be run on all investor products simultaneously, which appears on a single screen for ease of viewing and comparison. "OpenClose's rate sheet generator has taken a huge, time consuming burden off of our plate by completely automating the process for us," said Kevin Marconi, chief operating officer of United Fidelity Funding. "It has saved us a great deal of time, we know our pricing is always current and accurate and we can run best in real-time. Our branches and originators absolutely love it." The user interface is intuitive and enables single-screen searches for ease of viewing. Prebuilt templates can be utilized to http://www.NationalMortgageProfessional.com

Table of Contents for the Digital Edition of NMP - October 2016

Table of Contents
NMP - October 2016 - Cover1
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NMP - October 2016 - 1
NMP - October 2016 - Table of Contents
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