UTICA, MI, JANUARY 7, 2003 –Utica-based InetSolution, Inc. has developed new software to interface with Fannie Mae’s recently released XIS® Internet-enabled Desktop Underwriter® system. InetSolution’s software, ActiveXIS™, is a middleware component that allows seamless, end-to-end integration of internet mortgage applications with the Fannie Mae Desktop Underwriter System™.
By leveraging Fannie Mae’s XIS® system, ActiveXIS™ allows mortgage companies to provide a definitive approval or rejection to applicants within seconds. Consumers and lenders alike will benefit from instant on-line underwriting and guaranteed loan decisions. Many on-line loan applications currently rely on a set of basic ratios calculated solely on user input to deliver conditional loan approvals, but the applications must still be manually processed by the lending institution. The ActiveXIS™ integrated applications will eliminate this need for manual processing.
ActiveXIS™ automates the online loan origination process from beginning to end. The middleware enables lenders to complete two major components of the mortgage application process very quickly: retrieval and review of the applicant’s credit report and submission of the application for an instant underwriting decision. Finally, the approved applicant can then print his or her own approval letter, making the system an end-to-end solution. ActiveXIS™ speeds the mortgage process since the loan data is transmitted and received in industry standard Fannie Mae formats to allow for easy import and export into virtually all mortgage origination software systems.
InetSolution, Inc. is a leading provider of Internet technology solutions to medium and large companies throughout the United States, with an emphasis in banking and financial services industries. InetSolution’s specialized services include “e-branch” banking web site development, technology-aided marketing and the MemberProtect® data security system.