Halcyon collaborates with Freddie Mac to introduce leading-edge income verification solution

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This collaboration leverages Halcyon's direct IRS integration to support Freddie Mac's income verification solution in Loan Product Advisor® (LPASM).

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Monday, April 3, 2023
Information
Tags: 
Freddie Mac, BANK, Partnership, Risk assessment, IRS, LPA, AIM, Algorithm, RED, Real estate, Halcyon
Geotags: 
NEW JERSEY
⚠ generated by AI ↴
Organisation: 
HALCYON STILL WATER, FREDDIE MAC, HALCYON
Summary
Key Points: 
  • This collaboration leverages Halcyon's direct IRS integration to support Freddie Mac's income verification solution in Loan Product Advisor® (LPASM).
  • "We are thrilled to partner with Halcyon to support Freddie Mac's income verification solution, which provides critical data to lenders and creates operational efficiency," said Kevin Kauffman, Freddie Mac Single-Family Vice President and Head of Client Engagement.
  • "We are excited to work with Freddie Mac to provide our ground-breaking income verification solution to the mortgage market," remarked Kirk Donaldson, CEO of Halcyon.
  • "Our technology delivers an efficient and cost-effective solution, ensuring a quicker, more accurate and efficient income verification process for borrowers and lenders."


Halcyon collaborates with Freddie Mac to introduce leading-edge income verification solution

RED BANK, N.J., April 3, 2023 /PRNewswire/ -- Halcyon, an innovative technology company specializing in advanced data integration, proudly announces a new partnership with Freddie Mac. This collaboration leverages Halcyon's direct IRS integration to support Freddie Mac's income verification solution in Loan Product Advisor® (LPASM).

By utilizing Halcyon's advanced data algorithms and integrations, lenders can access consumer's income information, with their permission, for a fraction of the industry-average cost and in less time. The data will be accessible to Freddie Mac's LPA asset and income modeler (AIM) solution to calculate qualified income for LPA's risk assessment, further driving workflow efficiency and providing increased confidence in the quality of the data.

"We are thrilled to partner with Halcyon to support Freddie Mac's income verification solution, which provides critical data to lenders and creates operational efficiency," said Kevin Kauffman, Freddie Mac Single-Family Vice President and Head of Client Engagement. "Strategic partnerships are the key to lowering manufacturing costs, improving overall loan quality and making homeownership more attainable."

While today's market offers a growing number of income verification data providers, Halcyon aims to break down barriers to homeownership in underserved markets by making the loan application process fairer, significantly faster and less expensive. With a 90% faster turnaround time and data direct from the IRS, Halcyon's unique method of procuring and aggregating income data for lenders will provide a clearer picture of a borrower's ability to obtain financing.

"We are excited to work with Freddie Mac to provide our ground-breaking income verification solution to the mortgage market," remarked Kirk Donaldson, CEO of Halcyon. "Our technology delivers an efficient and cost-effective solution, ensuring a quicker, more accurate and efficient income verification process for borrowers and lenders."

For more information, please visit or contact Halcyon directly at www.halcyonsw.com and [email protected].

About Halcyon

Halcyon has revolutionized the perfect companion product to the mortgage loan through a standardized, secure portal. Halcyon's recession-proof financial health monitoring platform and innovative technology was designed to digitally transform the tax and lending industries by utilizing artificial intelligence and data analytics decisioning engines for reporting, calculations, and tax filings. Visit www.halcyonsw.com

Cision View original content:https://www.prnewswire.com/news-releases/halcyon-collaborates-with-freddie-mac-to-introduce-leading-edge-income-verification-solution-301788741.html

SOURCE Halcyon Still Water

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