In Brief: GE Capital Will Use Freddie Mac System

Freddie Mac plans to broaden the use of its automated underwriting system through an affiliation with GE Capital Mortgage Corp.

GE Capital will use the system on loans submitted for contract underwriting. With the arrangement, lenders that don't actually have the system can still gain access to its services, a Freddie Mac spokesman said.

Both Freddie Mac and rival Fannie Mae are promoting their separate automated underwriting systems as a way for lenders to save time and money on originations.

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