Floify Verification Reports Meet Fannie Mae and Freddie Mac Eligibility
What happened
Floify launched Verification of Assets (VOA) within Floify Verify, a native verification service powered by Argyle. This capability allows lenders to verify assets directly into the platform, completing what Floify calls the “verification triad.” Specific reports generated by this service meet eligibility requirements for Fannie Mae and Freddie Mac.
From union-bulletin.com
Why it matters
The new VOA reports meet Day 1 Certainty® eligibility requirements, validating Fannie Mae's standards. Similarly, the reports meet AIM eligibility requirements, validating Freddie Mac's standards. This integration allows for a single workflow for verifying income, employment, and assets in the mortgage application process.
Reports track mortgage credit availability and the involvement of Fannie Mae and Freddie Mac in Conforming MCAI.
From union-bulletin.com
Who's involved
- Fannie MaeGovernment-backed financial services company whose standards are validated by the new reports.
- Freddie MacAmerican government-sponsored enterprise whose standards are validated by the new reports.
- ArgylePlatform powering Floify Verify's native verification service.
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The entities involved
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Fannie Mae
government-backed financial services company
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Freddie Mac
American government-sponsored enterprise