The company also unveils new feature of its mobile-friendly application
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Compass Analytics has updated its risk management and loan sales platform CompassPoint to expand support of Fannie Mae’s Servicing Marketplace (SMP).
The company said it expanded support of Fannie Mae’s SMP to add to its library of APIs. The update will enable lenders to use CompassPoint to create mandatory commitments with SMP, returning both the SRP value and non-rate level pricing. Users can save the components of the total loan price (including base price, each LLPA, SRP, and investor fees) and transfer that information to their LOS.
This first major update in 2019 follows Compass Analytics’ first market support of the SMP API in May last year as well as the implementation of the SMP-SRP v2 API in December.
"Mortgage bankers are focused on controlling costs in 2019, and workflow efficiencies are direct ways of accomplishing this," said James Baublitz, product manager at Pipeline Analytics. "Compass Analytics is committed to its role as an integral player in our client's march toward fully integrated capital markets solutions."
Along with the CompassPoint enhancements, Compass Analytics also unveiled the new Bid Tracker feature of its mobile-responsive Pipeline Vitals application. The company said it allows lenders to view the status of loan sales from their mobile phone in real time. The application featured “shadow” bids as well to streamline lender access to new investor partnerships.
