The partnership seeks to optimize the lending process
SaaS provider Vesta has partnered with Freddie Mac to benefit from its automated underwriting system, Loan Product Advisor.
The integration of Loan Product Advisor into Vesta’s LOS platform will allow customers to assess their loans against Freddie Mac guidelines. In doing so, Kevin Kauffman, vice president of single-family at Freddie Mac, said that Freddie Mac’s risk assessment tools and capabilities will be optimized throughout the mortgage manufacturing process.
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“Loan Product Advisor is a critical piece of the puzzle in end-to-end digital lending and building automation to ultimately provide a better experience for borrowers,” Mike Yu, co-founder and chief executive officer of Vesta, said in a media release. “Together we hope to create a simplified, clear, and straightforward experience for the borrower by enabling a fully optimized and automated process for lenders.”
Vesta’s mortgage loan origination software-as-a-service (SaaS) platform is fresh from beta testing. The platform provides lenders with a modern system of record, customizable workflows for end-to-end mortgage loan fulfillment process and open, cloud-based APIs.
The San Francisco-based start-up debuted in late 2020, having raised $30 million in Series A venture capital. It also managed to pull $5 million in seed money to help accelerate employee hiring and customer expansion.
