GMAC-RFC Clients Now Have Additional Option for Purchasing Credit Information
Via Fannie Mae's MORENETPlus Network
MINNEAPOLIS, Aug. 23 /PRNewswire/ -- GMAC-RFC announced today that CBC
Companies (CBC) has been approved as an additional credit reporting option on
GMAC-RFC's AssetWise(SM) automated underwriting system. GMAC-RFC continues to
enhance AssetWise by making its components more robust and by offering
additional service providers to ensure the highest level of service for its
clients.
Accessing AssetWise through Fannie Mae's Desktop Underwriter(R) enables
lenders to expand and diversify their product menu without adding specialized
resources. AssetWise provides automated underwriting for all of GMAC-RFC's
products including jumbo, expanded criteria, subprime, 125 percent LTV, and
home equity loans and lines. AssetWise automatically determines if a loan is
eligible for a simultaneous home equity loan or line, calculates the maximum
amount available, and provides lenders with various product and rate options
to offer a borrower.
CBC, headquartered in Columbus, Ohio, is one of the nation's largest
providers of mortgage credit and flood zone determination reports and
processes more than 300,000 requests for credit a day. In addition, CBC is
the only credit reporting company to own and operate credit bureaus on all
three national systems (Equifax, Experian, and Trans Union). CBC has more than
75 offices nationwide with the mortgage industries' largest customer
service/sales network. CBC has integrated its products and services with the
majority of loan origination software products in the mortgage industry.
"CBC's national coverage, commitment to customer service and outstanding
technical expertise will prove to be a real benefit to our customers," said
Dan Bettenburg, Managing Director, Business Solutions, GMAC-RFC. "CBC's
state-of-the-art data center and excellent systems uptime and report
turnaround time are major reasons why we selected CBC as our newest credit
reporting provider," Bettenburg said.
GMAC-RFC, a wholly-owned subsidiary of GMAC Financial Services, is
committed to providing capital and investments worldwide through its core
businesses in securitization, lending and investment. The company is the
leading non-agency issuer of mortgage-backed securities and a leader in
warehouse lending and construction lending. Headquartered in Minneapolis, the
company has offices nationwide, in the United Kingdom and Mexico.
SOURCE GMAC-RFC
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Company News On-Call:
http://www.prnewswire.com/comp/138832.html or fax,
800-758-5804, ext. 138832
CONTACT:
Dan Bettenburg of GMAC-RFC, 612-979-4522, or
Kent Johnson of CBC Companies, 614-222-4365
NOTE TO EDITORS: MORENETPlus and Desktop Underwriter are
registered trademarks of Fannie Mae.
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