REDWOOD CITY, Calif., Oct. 15, 2018 /PRNewswire/ -- Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced its Envestnet | Yodlee Risk Insight Solutions will be integrated with Freddie Mac automated income and asset assessment capabilities. Freddie Mac will leverage Envestnet | Yodlee's Risk Insight Solutions to help lenders improve the borrower experience, loan pull through, operational efficiencies and per loan profit margins.
The automated income and asset capabilities are available in Loan Product Advisor®, Freddie Mac's automated underwriting system. The Envestnet | Yodlee Risk Insight Solutions integration with Loan Product Advisor leverages a previously ordered Risk Insights verification of assets, delivering greater automation and transparency in the loan production process allowing Freddie Mac's clients to originate loans with a single system of record using data that stays in sync between Envestnet | Yodlee and Freddie Mac.
By combining access to transaction level data from over 17,000 data sources, proprietary data enrichment and machine learning algorithms, Envestnet | Yodlee Risk Insight Solutions deliver comprehensive, powerful reports that can be used throughout the lending process.
Lenders benefit from reduced risk, an easier documentation process for essential loan information, and dynamic underwriting based on asset assessment information. This more efficient process provides a better borrower experience, reduced operational labor, and reduces application-to-close time.
"Our solutions provide comprehensive visibility into assets, income, non-credit payment patterns, and transactional detail," stated Mike Burger, VP of Product Management, Envestnet | Yodlee. "By combining our solutions with the Freddie Mac Loan Advisor, we are able to provide customers with a complete end-to-end solution that handles everything from ordering the report to delivery that is safe and seamless."
"The integration of Envestnet | Yodlee Risk Insight Solutions into Loan Product Advisor for a faster, easier way to assess assets through automation is just one example of the value the Freddie EdgeSM provides our clients," said Samuel E. Oliver III, Freddie Mac Vice President, Major Project Execution for the Single-Family Business. "We are helping the industry increase and streamline their business and provide better and faster service to their customers."
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology enhances advisor productivity and strengthens the lending process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services.
More than 88,000 advisors and more than 3,500 companies including: 15 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.
For more information on Envestnet, please visit www.envestnet.com and follow @ENVintel.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.
SOURCE Envestnet | Yodlee