MeridianLink, Inc., a provider of credit reporting technology to the mortgage industry, said late yesterday that it is now a directly-connected credit service provider through Fannie Mae (NYSE:FNM) for automated underwriting purposes. MeridianLink is now one of 13 companies to have a direct connection to Fannie Mae for both loan data and credit data. With this connection, MeridianLink’s Mortgage Credit Link and LoansPQ platforms gain the ability to send data directly to Fannie Mae, resulting in improved speed and data quality of transmissions. “Our direct connection to Fannie Mae is a significant leap forward for the entire mortgage industry,” said Tim Nguyen, executive vice president of MeridianLink. “Because of the quality and speed of our merge logic and processing technology, the underwriting process can be enhanced with fewer errors and delays. That means a more efficient loan cycle and higher profitability per loan.”
MeridianLink’s flagship product, Mortgage Credit Link (MCL) is one of the most widely used credit reporting systems for vendors of credit reports to the mortgage industry. All credit reporting agencies that license the MCL system will gain direct access to Fannie Mae as a result of this connection. “It was frustrating having to deal with multiple technology providers,” says John Fish, President of Credit Service Company, a MeridianLink MCL client. “MCL runs our entire business and it’s critical for us to minimize errors or delays, especially when it comes to Fannie Mae. This direct connection simplifies the data flow and allows me to improve the overall quality of my credit services.” For more information, visit http://www.meridianlink.com.