PRLog -- OptiFunder's flagship Warehouse Management System has passed the 100,000th mark in investor purchase advices processed for its clients.
OptiFunder Expands Purchase Advice Connect
One Platform Delivers Optimized and Automated Warehouse Funding and Loan Sale Solutions.
ST. LOUIS - April 12, 2022 - PRLog -- OptiFunderSM (www.optifunder.com), the mortgage industry's only Warehouse Management System (WMS) for originators, has enhanced Purchase Advice Connect, utilizing innovative automation technology to retrieve Purchase Advices from any investor. Purchase Advice Connect retrieves, reads, reconciles and uploads data from investors' Purchase Advice documents to the originator's Loan Origination System (LOS), eliminating manual processing time for Originators while reducing dwell time for loans on warehouse facilities.
OptiFunder's WMS is a single platform that combines OptiFunder Select, a decision engine which uses proprietary optimization algorithms and AI/ML technology to allocate loans to warehouse facilities to achieve strategic objectives such as lowest cost of capital or specific funding targets, and OptiFunder Connect, which automates funding request and loan sale tasks—all made possible through secure partner integrations.
Previously, OptiFunder announced an integration with Fannie Mae Connect™ Whole Loan Purchase Advice Seller API to automate retrieval of its Purchase Advices for OptiFunder clients.
Purchase Advice Connect by OptiFunder
- Automates the retrieval of Purchase Advices and is fully configurable for any investor using APIs and automation technology.
- Automates the processing of investors' Purchase Advices with unlimited computational capabilities using proprietary OCR and best-in-class cloud computing.
- Updates the mortgage originator's system of record or LOS.
- Eliminates the need to log in and out of portals to upload, download or manually calculate or enter data—enhancing data integrity.
- Offers a fully integrated, secure process and is fully integrated with all primary LOS providers and with OptiFunder Select and OptiFunder Connect.
- Brings innovation and efficiency to secondary market transactions.
"Our clients appreciate the speed, accuracy, and analytics of Purchase Advice Connect. The Purchase Advice data is automatically delivered into the OptiFunder platform and with one click our clients can process purchase advices and update the LOS in moments," noted Brian Abbott, OptiFunder's Chief Operating Officer. "We leverage the best cloud computing technology allowing us to process hundreds of loans almost instantaneously. We're moving people from doing the work to simply monitoring it, while providing real-time business insights that empower IMBs. OptiFunder's Warehouse Management System now fully connects the primary origination market with the secondary mortgage market providing immediate positive ROI for mortgage originators."