Freddie Mac was named one of the top 100 most innovative technology companies in the U.S. housing industry by HousingWire for its automated collateral evaluation (ACE) solution. This is the second consecutive year that Freddie Mac was recognized as part of HousingWire's Tech100. Last year, our revolutionary loan production solution, Loan Advisor Suite®, was recognized.
"ACE can speed up, simplify and lower the cost of the loan origination process for both lenders and their borrowers," said HousingWire.
An enhancement within Loan Advisor Suite's Loan Product Advisor®, ACE leverages big data and advanced analytics to enable lenders to originate a loan without a traditional appraisal. ACE uses data from multiple listing services and public records as well as a wealth of historical home values to determine collateral risks, which provides lenders with immediate certainty on collateral representation and warranty relief.
"ACE is just one example of how we are reimagining the mortgage process to create a better experience for consumers and lenders," said David Lowman, executive vice president of Freddie Mac's Single–Family Business.
HousingWire created the Tech100 Awards five years ago to recognize the increasingly important role of technology companies serving the mortgage space. Click here more information on the 2018 HousingWire Tech100.