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Freddie Mac Launches Direct Deposit Income Evaluation Tool

Freddie Mac has unveiled an automated tool that lets mortgage lenders evaluate a prospective homebuyer’s direct deposition income. So reports RISMedia.

Freddie Mac 350x320The mortgage finance giant touted the new capability as a way of cutting down on paper documents required of borrowers, for a quicker and simpler lending process.

Kevin Kauffman, vice president of client and partner delivery at Freddie Mac Single-Family, said, “We are thrilled to announce another first-of-its-kind solution to help bring greater loan origination efficiencies.”

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