ST. PETERSBURG, Fla., Dec. 14, 2021 /PRNewswire/ — For the first time, struggling homeowners can find out immediately if they’re pre-approved for the new COVID-19 Mortgage Recovery programs released by Fannie Mae, Freddie Mac and FHA by using the Cakeforms Automated Underwriter For Mortgage Assistance.
"Waiting 60 to 120 days for your Lender to make a decision, is the most frustrating thing about asking for help with your mortgage," says Cakeforms CEO Allan Robinson. Those days over according to Robinson with the release of the Cakeforms Automated Underwriter for Mortgage Assistance. "Our software tells you for which programs you qualify and how to qualify for previously denied programs."
The Cakeforms Automated Underwriter is a single PDF file that you download from the Cakeforms website. All the guidelines for mortgage assistance are encoded into the PDF. These are the same guidelines that Lenders and Servicers must use. There are separate versions of the software for Fannie Mae, Freddie Mac and FHA mortgages. The cost is $19.95 for one month as the guidelines can change from month to month.
Automated underwriters are nothing new in the mortgage industry as Loan Officers use auto-underwriters to generate a pre-qual or pre-approval letter. However, the Cakeforms Automated Underwriter is the first for mortgage assistance that’s tailored to the public.
"Fannie Mae, Freddie Mac, and FHA have released new mortgage assistance programs designed to transition homeowners from the millions of expiring forbearance agreements and to accelerate the COVID-19 recovery," Robinson goes on to say. "These are most aggressive programs ever at keeping borrowers in their homes by offering historically low interest rates, and incentives. And our software will help homeowners get approved for these programs."
The Cakeforms Automated Underwriter covers Forbearance Agreements, Repayment and Reinstatement Plans, Deferrals, Partial Claims, Advance Loan Modifications, Standard Loan Modifications, Short Sales and Deeds-in-Lieu of Foreclosure. Included with the Automated Underwriter are the eligibility guidelines, terms and sources for each mortgage assistance program.
Go to Cakeforms.com for more details and to watch videos of their software.
For questions, contact Allan Robinson at (800) 890-8022 or through email at