Wholesale Lender Automates To Expand Business Growth

MORE Lending has implemented Portfolio Producer from LoanScorecard as its automated underwriting system (AUS), product and pricing engine (PPE), and distribution solution. Here’s why:

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MORE Lending is the wholesale division of Synergy One Lending, a San Diego-based mortgage lender. Licensed in 42 states, MORE Lending offers a variety of non-agency loan products, including program options for foreign nationals, interest only, non-warrantable condos, and recent credit events such as deeds-in-lieu, short sales, and foreclosures.

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Portfolio Producer is a sales distribution system that integrates with LoanScorecard’s AUS, Portfolio Underwriter, and PPE, Pricer1. It provides third-party originators (TPOs) access to a wholesale lender’s product and pricing options from within their loan origination system (LOS) or via the wholesale lender’s website.

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Using Portfolio Producer, MORE Lending will be able to instantly distribute the guidelines and pricing for their non-agency loan programs to TPOs via Calyx Point and their website. TPOs can search based on borrower profile, product type, rate and price to provide eligible products and pricing options to potential borrowers. If they like an eligible product and fully-adjusted price, TPOs can run “upfront decisioning,” and get back an in-depth Findings Report. The report provides an early indication of the likelihood that MORE Lending will approve the loan and reduces the likelihood that the TPO will provide inaccurate quotes to the borrower.

“Our goal is to provide the broker community with an automated solution that allows them to learn about our non-agency, non-QM offerings and gives them greater confidence when sharing these financing options with their borrowers,” said Steve Majerus, President of MORE Lending. “LoanScorecard’s Portfolio Producer, combined with our first-class customer support, helps us differentiate our company among brokers and provide them with more options for their borrowers.”

About The Author

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.