Cakeforms Unveils First Automated Underwriter for Mortgage Assistance
ST. PETERSBURG, Florida, December 14, 2021 / PRNewswire / – For the first time, distressed homeowners can immediately know if they are pre-approved for new COVID-19 mortgage recovery programs released by Fannie Mae, Freddie Mac and FHA using the automated underwriter from Cakeforms for mortgage assistance. .
âWaiting 60 to 120 days for your lender to make a decision is the most frustrating thing about asking for help with your mortgage,â says the CEO of Cakeforms. Allan robinson. Those days are over according to Robinson with the release of Cakeforms Automated Underwriter for Mortgage Assistance. “Our software tells you which programs you are eligible for and how to qualify for previously denied programs.”
Cakeforms Automated Subscriber is a single PDF file that you download from the Cakeforms website. All mortgage assistance guidelines are encoded in the PDF. These are the same guidelines that lenders and repairers should use. There are separate versions of the software for Fannie Mae, Freddie Mac, and FHA mortgages. The cost is $ 19.95 for a month as the guidelines may change from month to month.
Automated underwriters are not new to the mortgage industry as loan officers use automatic underwriters to generate a prequalification or pre-approval letter. However, Cakeforms Automated Underwriter is the first to offer tailored mortgage assistance to the public.
âFannie Mae, Freddie Mac and FHA have released new mortgage assistance programs designed to push homeowners through millions of expiring forbearance agreements and to accelerate the COVID-19 recovery,â Robinson continues. “These are the most aggressive programs ever created to keep borrowers in their homes by offering historically low interest rates and incentives. And our software will help homeowners gain approval for these programs.”
Cakeforms Automated Underwriter covers forbearance agreements, repayment and reinstatement plans, deferrals, partial claims, early loan modifications, standard loan modifications, short sales and deeds in lieu of foreclosure. The automated insurer includes eligibility guidelines, conditions and sources for each mortgage assistance program.
Go to Cakeforms.com for more details and to watch videos of their software.
For any questions, contact Allan robinson at (800) 890-8022 or by email at [emailÂ protected].