MISHAWAKA, Ind., March 5, 2004
- Data-Vision, Inc., a leading provider of electronic
document delivery services, has created a new interface
with Freddie Mac’s Loan Prospector automated
interface enables mortgage lenders who have private
label, mortgage lending websites to get faster
underwriting decisions to online loan applicants.
This is only the second vendor
to offer this type of interface to Loan Prospector.
This means lenders who use Data-Vision’s
can let consumers know in seconds whether their mortgage
loan is approved.
Previously, lenders would take an application and input
the data to their Loan Origination Software (LOS),
before submitting it for automated underwriting review.
With this new service, the consumer comes to the
lender’s website, fills out the online application and
receives an on-line loan decision from the lender within
minutes. And the lender knows immediately if it’s
eligible for sale to Freddie Mac.
consumers, an online response means they don’t have to
loan shop for approval and lenders have an instant
conforming qualification prior to going through full
loan processing. As a result, lenders will experience
fewer lost loans or squandered revenue with the
interface gives lenders a private label, consumer-facing
website that feeds back into their LOS system of
choice,” says John Dempsey, vice president of sales for
Data-Vision. “By using it on the back-end, data from
consumers feeds right into the LOS as lenders continue
processing the loans,“ he says.
interface may be used by the company’s 200
new interface to Loan Prospector will help lenders make
faster underwriting decisions, further streamlining the
loan origination process and giving their borrowers the
quick answers they want,” says Marcia Davies, vice
president of product marketing and communications for
Data-Vision service represents yet another way for
lenders to access Freddie Mac’s Loan Prospector
automated underwriting system,” Davies adds.
to customer requests
According to Dempsey, the interface meets lender
requests for an electronic channel to take
consumer-based online mortgage loan applications that
tie their LOS to Freddie Mac’s Loan Prospector’s
automated underwriting service.
as an Application Service Provider (ASP), Data-Vision
custom builds, hosts and maintains private label,
lender-controlled and lender-branded websites that link
to Loan Prospector.
Data-Vision, Dempsey adds, “this means more
functionality for our clients, allowing them to provide
an instant response to their customers in a safe, secure
manner, using widely available SSL (Secure Sockets
LoanQuoter™ customer David
T. Garrity, vice president, mortgage banking, The Grange
Bank, Columbus, Ohio has found the service speedy to
able to create a fully functional mortgage website in a
short period of time. From initial training to when we
were ready to go live was less than 30 days,” Garrity
says. “Total time put in to create the site was just a
few days. It was very easy to do and didn't take much
effort on our part.” Garrity praises the flexibility and
functionality of LoanQuoter™ and likes the fact that his
bank was able to customize for its corporate site – “so
we can have a unique look and feel.”
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Incorporated in 1993,
Data-Vision focuses exclusively on the mortgage and
banking industries. Data-Vision offers RemoteDocs™.com,
a mortgage website service known as LoanQuoter™.com and
DisclosureDocs.com. Data-Vision focuses on harnessing
the power of the Internet by providing tools that allow
efficiency and productivity for the mortgage industry.
One of Data-Vision's strengths is the ability to design
and implement solutions for the lending industries. It
also is the only national provider with online,
real-time editing capabilities, instead of weekly
by-appointment access to document changes. Maintenance
and hosting fees are paid monthly, rather than on a
long-term contract basis for increased flexibility.
further information visit
media inquiries contact John Dempsey, Vice President of
Sales, Data-Vision, Inc. at 877-468-3627, send a fax to
574-243-8630, e-mail to
sales@RemoteDocs.com, or write 520 Park Place Court,
Suite 200, Mishawaka, IN 46545.