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Freddie Mac Will Factor Cash-Flow Data Into Underwriting

Freddie Mac has said that as of November 6, it will start including borrowers’ bank account data in its loan purchase eligibility assessments. So reports InfoBytes Blog.

Freddie Mac“With the addition of positive monthly cash flow data, our underwriting system can help with more accurately predicting a borrower’s ability to pay their mortgage because it uses a comprehensive view of how personal finances are managed over time," the government-backed housing finance giant said in a statement.

The capability will be available to lenders nationwide through Freddie Mac’s automated Loan Product Advisor underwriting system.

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