HOUSTON (Dec. 16, 2002) - Stewart Mortgage Information (SMI), a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), announced that its products and services are available through the new Freddie Mac Web site, www.loanprospector.com.
Freddie Mac has introduced its next generation of Loan Prospector® with tools that provide an easier way for lenders and brokers to originate mortgage loans. The new Web site efficiently allows basic loan application data to be shared among third-party service providers involved in the loan process - including Stewart Mortgage Information.
"Integration with Loan Prospector seamlessly connects lenders to SMI services, further automating the steps from application to closing," said Kevin Gugenheim, chief operating officer, Stewart Mortgage Information. "Whether the information is keyed into the Web site, or electronically transferred via the lender's loan origination system (LOS), Stewart services such as flood zone determinations and title and settlement services are an easy click to order."
"Using the services provided by Stewart helps our mutual customers order mortgage products, check order status in real time, and get their orders fulfilled efficiently," said Tricia McClung, vice president of Loan Prospector. "Stewart was one of the first service providers on loanprospector.com."
"With this announcement, Stewart is ready to do business with Freddie Mac lender and broker customers throughout the nation via the Loan Prospector Web site," said Don O'Neill, president, Stewart Mortgage Information. "This integration is essential to Stewart's strategy to make available all the informational services needed to close a mortgage loan via electronic commerce."
About Freddie Mac
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. Over the years, Freddie Mac has opened the doors for one in six homebuyers and more than two million renters across America. For more information, visit www.freddiemac.com.
Incorporated in 1994, SMI www.smiservices.com is a leading provider of mortgage information and services that accelerate loan origination and improve the performance of the post-closing function. SMI offers its services to lenders based on the life cycle of the loan process - from origination through post-closing to servicing. Origination services include credit reports, title reports, flood determinations, collateral assessments, document preparation, centralized funding and other real estate information. The post-closing solutions include assignments, document retrieval, lien recordation, pool certification, full legal review, lien release and research. Customers nationwide rely on SMI's expertise and integrated technology to provide solutions for their settlement needs
Stewart Information Services Corporation is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,300 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records and geographic information systems for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.