New Penn Financial, Freddie Mac and Integra Software Solutions are developing a one-click submission of loan data to Freddie’s automated underwriting system, Loan Product Advisor , and to Fannie Mae’s Loan Prospector. The aim is to deliver the capability to generate a best execution in the secondary market through data that’s simultaneously submitted to both Freddie Mac and Fannie Mae.

“AUS-Neutral Design is an innovative movement supporting the idea that lenders should run both underwriting systems to identify the best path for their borrowers and, in many instances, the optimal processing path for themselves,” said David Fulford, vice president of strategic technology at Freddie Mac for single family integration

In the past, a lender could use a Fannie Mae decision and Freddie Mac would accept it, but the lender, therefore, didn’t have the loan details it required. But through this collaboration, Integra’s web-based Epic solution allows lenders to submit loan-data via a single click to the government sponsored enterprises--enabling borrowers to see the full view of options available to their borrowers, and ultimately, a better borroer experience. The Epic solution delivers real-time data that’s designed to increase lender efficiency and streamline the residential real-estate solution.

“With results from both GSE AUSs, we can give borrowers access to more options, like appraisal waivers, so they can save money and shorten the time it takes to close a loan,” said Dena Kwaschyn, chief fulfillment officer at New Penn Financial.

New Penn will have details from both government sponsored enterprises, and can sell the loan where it makes the most sense to their borrowers. The lender will have a complete view of options available to their borrowers--and that will improve their experience.

Economic growth remains on-track to hit Fannie Mae’s 2018 projected growth rate of 3 percent, and meet its 2019 forecast of 2.3 percent, despite expectations of slightly stronger third-quarter growth than in the prior forecast, according to the Fannie Mae Economic and Strategic Research Group’s October 2018 Economic and Housing Outlook.

Residential fixed investment is expected to have fallen for a third-consecutive quarter, with home sales and mortgage demand continuing to soften amid rising interest rates.

“Our expectations for housing have become more pessimistic: Rising interest rates and declining housing sentiment from both consumers and lenders led us to lower our home sales forecast over the duration of 2018 and through 2019,” said Doug Duncan, chief economist for Fannie Mae.  “Meanwhile, affordability, especially for first-time homebuyers, remains atop the list of challenges facing the housing market. While the amount of for-sale inventory of existing homes is finally showing some improvement, it remains tight in many areas of the country, especially in the lower-priced tiers."

The Research Group still anticipates that growth slowed from the second quarter's robust 4.2 percent annualized rate to a still-strong 3.3 percent pace. Factors that could have slowed third-quarter growth include a quarter-over-quarter deceleration in consumer spending and business investment growth, as well as trade, which switched to a detractor from growth, rather than a source of growth.

CoreLogic has updated its residential and commercial storm surge and wind loss estimates for Hurricane Michael.

According to this new data analysis, the wind losses for residential and commercial properties in Florida are expected to be between $2 billion and $3 billion and the storm surge losses, including losses covered by National Flood Insurance Program , are expected to be an additional $0.5 billion to $1 billion. The analysis includes insured losses. Corelogic provides global property information, analytics and data-enabled solutions.

The post-landfall estimates below have been updated based on the Oct. 11, National Hurricane Center advisory of the storm. It was unlikely that inland flooding would be a major contributor to loss totals. This analysis includes residential homes and commercial properties, including contents and business interruption and does not include broader economic loss from the storm.

Below the table illustrates the loss to states due to the devastation of Hurricane Michael, most of which afficted Florida.

Hurricane Michael Combined Residential and Commercial Loss (Includes Wind,National Flood Insurance Program and Non-NFIP Storm Surge.)