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Automated Underwriting Of Portfolio Products Allows Lender To Expand

Cascade Financial Services (Cascade) has implemented LoanScorecard’s Portfolio Underwriter as its automated underwriting system (AUS). Cascade is an independent mortgage bank that specializes in manufactured and modular home financing.

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In May 2017, the company was named Regional Lender of the Year for the third consecutive year by the Manufactured Housing Institute, the national trade organization representing all segments of the factory-built housing industry. Cascade was founded in 1999 in Arizona and is currently licensed in 38 states, with plans to expand to the contiguous 48 states by the end of 2017.

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Cascade’s unique portfolio loan products include both land/home and home only loan options for manufactured home buyers. With Portfolio Underwriter, Cascade’s guidelines for these products can be captured within the engine to deliver a rules-based underwriting decision in seconds. Results of the decision are documented in an in-depth findings report, which includes the program-specific, conditional underwriting criteria used in the data analysis. This allows Cascade to automate underwriting its portfolio loans and manage exceptions based on valid compensating loan factors, rather than loan officer “discretion.” It also ensures consistent, transparent credit policy application to demonstrate Fair Lending.

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“Having an AUS to provide quick and consistent underwriting decisions on portfolio loan products is a very important part of being able to scale a business. And building an internal system that is intelligent enough to read credit reports and interface with an LOS takes significant time and upfront expense,” said Gerron Dover, Executive Vice President of Production at Cascade. “We selected LoanScorecard’s Portfolio Underwriter because it works seamlessly with our LOS, it was relatively quick and inexpensive to get set up, and it is now providing us the efficiency we need to offer our portfolio loan products on a more expanded scale. It also provides us the ability to quickly revise system parameters as we get more experience with our new loan products, and our lending guidelines evolve over time.”

“Manual underwriting is time consuming, costly, and puts lenders at risk for Fair Lending violations,” said Ben Wu, Executive Director at LoanScorecard. “That’s why more and more forward-thinking portfolio lenders, like Cascade, are turning to sophisticated automation. By using Portfolio Underwriter, they’re able to not only automate underwriting for their unique portfolio products, but also reduce errors, improve efficiency, and expand their manufactured housing finance business.”

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.

Calyx Launches New Portfolio Underwriting Capability

Calyx Software has launched Portfolio Underwriter, an automated underwriting system (AUS) from LoanScorecard. This service is now available to Point and PointCentral clients. Portfolio Underwriter allows portfolio lenders to customize credit decisioning and safely originate non-agency loans that they intend to put on their balance sheets.

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It captures a portfolio lender’s program guidelines within its engine and delivers a rules-based underwriting decision in seconds. Results of the decision are documented in a findings report. This report includes program-specific, conditional underwriting criteria utilized in the data analysis.

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Portfolio Underwriter seamlessly integrates with Calyx Point and PointCentral loan origination systems. The connection facilitates bidirectional data flow and provides a single system of record for all loan documentation. Centralization of processes and documents streamlines preparation for audits, board reviews and regulatory submissions.

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The solution helps portfolio lenders by:

>>Providing a mechanism to safely and easily communicate underwriting criteria for new niche products.

>>Conducting extensive loan file data checks and in-depth credit report reviews.

>>Allowing them to manage exceptions based on valid compensating factors on the loan, rather than loan officer “discretion.”

>>Ensuring consistent, transparent credit policy application to demonstrate Fair Lending and improve efficiency.

“Manually underwriting portfolio loans not only exposes lenders to Fair Lending issues, but is also time consuming and costly,” said Ben Wu, Executive Director at LoanScorecard. “By incorporating automated technology like Portfolio Underwriter, portfolio lenders using Point and PointCentral can improve efficiency by streamlining decisioning for their unique programs and focus on more complex transactions.”

“The predominant focus of Fair Lending violations is how and why loans were approved; therefore, it is critical to have an AUS in place to demonstrate the standard practice of quality underwriting,” said Bob Dougherty, Vice President of Business Development at Calyx Software. “While lenders are certainly familiar with agency AUSs, they are also aware of gaps in automated decisioning for their portfolio products. Portfolio Underwriter helps lenders who originate portfolio loans automatically determine the appropriate response for their institution—ensuring compliance with Fair Lending at the point of sale and in the underwriting process.”

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.

Changing With The Times

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Let’s face it, the mortgage and lending industry is changing. So, everyone in the industry that wants to be successful has to change, as well. It just has to happen. So, where does that change start? Several vendors are changing their brand identity to reflect the evolving nature of our industry.

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For example, one month after being recognized as one of the fastest-growing private companies in the country, Land Gorilla has launched a new brand identity designed to carry its mission of making construction lending safe for all stakeholders far into the future.

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The new brand was unveiled Sept. 26, 2016, linking the idea of a gorilla’s natural strength and solidity to the business that has quickly made a name for itself as a foundation for successful construction projects through safe, reliable lending practices.

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While gorillas are often portrayed as majestic and solitary creatures, their rugged endurance is only possible due to their membership in a tight-knit group known as a troop or a band. Similarly, Land Gorilla knows that while a construction project may seem to stand alone, its transition from idea to plan to physical creation can only happen if a team of people work together in confidence and trust.

“We wanted a brand that is iconic, memorable, trustworthy, and timeless,” said Sean Faries, CEO of Land Gorilla. “If you encounter a gorilla, you know what you’re going to get: dignity, strength, a depth of intelligence, and a fierce devotion to anyone in its circle. Since we already operate on those same principles and with those same characteristics, it’s time that we acknowledged them in our brand identity.”

The re-branding also plays off of the concept that a gorilla is “built to protect,” using its physical, mental, and social resources to safeguard its territory and those who call that area home. From the Land Gorilla angle, the company is built to help protect anyone involved in the construction process by making lending a secure and efficient endeavor. Stakeholders will also have confidence that properly financed projects, once completed, have been built to physically protect the people who will be using them and interacting with them every day.

Land Gorilla’s troop is made up of members who can collectively claim more than 90 years in the business of construction risk management. Not content to use standard practices for projects being built with ever-improving technologies and new business models, the company has pioneered an advanced cloud-based loan management system. The system is well built, uncomplicated, and powerful, just like the king of the jungle.

Available construction-lending software and services include appraisal management, progress inspection, project and builder acceptance reviews, construction underwriting, post-closing administration, and program development.

Land Gorilla ranked 230 out of the United States’ top 500 fastest-growing businesses as reported in August 2016 by Inc. Magazine, posting 1,726-percent growth. The company is headquartered in San Luis Obispo on California’s beautiful Central Coast. For more information, call Land Gorilla at 1-855-887-3800 or visit landgorilla.com.

Similarly, LoanScorecard, a provider of automated underwriting, compliance and distribution solutions, unveiled its new brand identity and corporate website.

The new brand identity centers on the theme of “Solutions for Intelligent Lending,” the company’s new tagline, and better conveys the evolution and expansion of LoanScorecard’s solution-focused technologies. The new imagery and redesigned website suggest how the company helps its clients grow and features a more intuitive, engaging format that allows lenders and investors to shop for solutions based on their needs.

“Our company and our broad set of product offerings have significantly evolved over the past few years in order to meet the changing needs of our clients,” said Ben Wu, executive director at LoanScorecard. “Today, we offer banks, credit unions, TPOs, wholesalers and investors the solutions they need to not only meet today’s regulatory challenges, but also expand their businesses. We’re excited to have a brand that reflects how our intelligent solutions can help them grow.”

Branding is very important. According to marketing company Deluxe Corp., your brand impacts your business in these key ways:

Branding Improves Recognition

One of major components of your brand is your logo. Think of how we instantly recognize the golden arches of McDonalds or the simple, but powerful eagle of the USPS. As the “face” of a company, logo design is critical because that simple graphic will be on every piece of correspondence and advertising. A professional logo design is simple enough to be memorable, but powerful enough to give the desired impression of your company.

Branding Creates Trust

A professional appearance builds credibility and trust. People are more likely to purchase from a business that appears polished and legitimate. Emotional reactions are hardwired into our brains, and those reactions are very real influencers.

Branding Supports Advertising

Advertising is another component of your brand. Both the medium chosen and demographic targeted for advertisements builds a brand. Too narrow an advertising focus, and a company risks being “pigeon holed” and losing their ability to expand into new markets. Too broad a focus, and the company fails to create a definable impression of the company in the minds of would be customers.

Branding Builds Financial Value

Companies who publicly trade on a stock exchange are valued at many times the actual hard assets of the company. Much of this value is due to the branding of the company. A strong brand usually guarantees future business. Whether a company is in the position to borrow funds for expansion or rolling out to an IPO, being perceived as more valuable will make the process advantageous for the owner of the company. The greater a company’s devotion to build its brand value, the better the financial return from its efforts.

Branding Inspires Employees

Many employees need more than just work— they need something to work toward. When employees understand your mission and reason for being, they are more likely to feel that same pride and work in the same direction to achieve the goals you have set. Having a strong brand is like turning the company logo into a flag the rest of the company can rally around.

Branding Generates New Customers

Branding enables your company to get referral business. Would it be possible for you to tell a friend about the new shoes you love if you couldn’t remember the brand? A large reason ‘brand’ is the word used for this concept is that the goal is an indelible impression. As the most profitable advertising source, word of mouth referrals are only possible in a situation where your company has delivered a memorable experience with your customer.

The most profitable companies, small and large, have a single thing in common. They have established themselves as a leader in their particular industry by building a strong brand.

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.

A New Product With A New Twist

Move over traditional pricing engine. LoanScorecard has launched Pricer1, a personalized product and pricing engine for portfolio lenders and originators that can be accessed via web browser or mobile app.

Pricer1 allows portfolio lenders to instantly distribute their own rates and fees, as well as other investor pricing, to referral partners, third-party originators and builders via a custom-branded website and mobile app. Both the lender, and the originator can add their branding to the app and website, personalizing the presentation for their respective originators and customers.

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Originators using Pricer1 can access a personalized dashboard of live rates. They can search based on borrower profile, product type, best execution, rate, margin, etc. to provide eligible products and pricing options to potential borrowers in the office or on the go. In addition, users can create and save pre-configured, “typical” scenarios and borrower contact information to save time.

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The Pricer1 app allows users to track and preserve every rate quote and lock request, as well as send lock requests directly from their mobile devices.

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Pricer1 operates within Calyx Point and PathSoftware, and is also accessible via any web browser. It is currently available for download in the Google Play Store for Android devices and will soon be available in the Apple App Store for iOS devices.

“Millennials now make up the largest population segment and are just beginning to make their mark on the housing market,” said Ben Wu, executive director at LoanScorecard. “They expect fast answers that they can receive digitally whether they’re at a lender’s officer or an open house. Pricer1 enables originators to stay hi-tech and hi-touch—providing Millennials with live rates in seconds, but presented in a way that supports a lender’s brand.”

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.

Vendor Launches New Brand Identity

LoanScorecard, a provider of automated underwriting, compliance and distribution solutions, today unveiled its new brand identity and corporate website (www.loanscorecard.com).

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The new brand identity centers on the theme of “Solutions for Intelligent Lending,” the company’s new tagline, and better conveys the evolution and expansion of LoanScorecard’s solution-focused technologies. The new imagery and redesigned website suggest how the company helps its clients grow and features a more intuitive, engaging format that allows lenders and investors to shop for solutions based on their needs.

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“Our company and our broad set of product offerings have significantly evolved over the past few years in order to meet the changing needs of our clients,” said Ben Wu, executive director at LoanScorecard. “Today, we offer banks, credit unions, TPOs, wholesalers and investors the solutions they need to not only meet today’s regulatory challenges, but also expand their businesses. We’re excited to have a brand that reflects how our intelligent solutions can help them grow.”

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LoanScorecard is a provider of automated underwriting and loan pricing solutions designed to meet today’s regulatory challenges and capitalize on today’s market opportunities. LoanScorecard Custom AUS streamlines non-agency mortgage underwriting, eliminating manual processing delays and time wasted on unqualified loans, ensuring that loans are approved and consistently documented to satisfy ATR and fair lending compliance. Custom AUS can be tailored to capture each lender’s specific credit policy and render underwriting findings that demonstrate a consistent loan manufacturing process to auditors and investors.

LoanScorecard LO Connect electronically distributes wholesale and investor products and pricing to third-party originators, providing TPOs with a real-time, interactive tool to determine borrower fit and price for non-agency programs, and enabling them to submit qualified loans to wholesalers and investors with confidence. Additionally, as the industry’s first QM engine, LoanScorecard helps institutions address CFPB regulations, rendering more than four million QM Findings Reports to date.

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.

Lender Uses Technology To Make Its Non-Prime And Non-QM Loans Available

All Credit Considered Mortgage, Inc. (ACC Mortgage) has selected LoanScoreCard’s LO Connect as its integrated automated underwriting system (AUS), product and pricing engine (PPE), and distribution solution. Here’s why:

ACC Mortgage is a wholesale lender specializing in non-prime mortgages and U.S. Treasury Certified Community Development Financial Institution (CDFI) that has provided credit to underserved markets since 1999. Headquartered in Rockville, Md., the company is licensed in California, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Illinois, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Texas and Virginia.

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LO Connect combines the power of LoanScoreCard Custom AUS, its PPE, and a unique integration with Calyx Point. It allows third-party originators (TPOs) to see branded product and pricing offers from participating wholesalers within Point. In the case of ACC, these offerings will include non-prime and non-QM loan programs. If the TPO likes an eligible product and fully-adjusted price, they can run “upfront decisioning” against Custom AUS and get back an in-depth Findings Report which delivers an early indication of the likelihood that the specific investor will approve the loan. In addition, LO Connect eliminates the likelihood that the TPO will quote the wrong information to the borrower.

“In the current regulatory environment, it’s important to get accurate information upfront in order to provide disclosures correctly and originate in a consistent fashion,” said Robert Senko, president of ACC Mortgage. “LO Connect will allows us to offer the broker community the first automated subprime underwriting system to Point users and non-Point users, via our Warp Speed Underwriting, to help streamline the front-end and decisioning of non-QM loans, as well as help us originate compliant loans and grow our wholesale business.”

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“As more forward-looking lenders like ACC Mortgage take advantage of the growing non-agency market, they’ll need to incorporate automated technology to meet demand,” said Ben Wu, executive director at LoanScoreCard. “LO Connect will provide ACC Mortgage an efficient way to distribute and promote their product and pricing offerings to TPOs—allowing them to extend their broker reach and reduce ‘false starts’ that could result in increased operating costs or ill will with brokers.”

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New Technology Automates Wholesale Lending

LoanScoreCard introduced LO Connect, an integrated automated distribution solution for aggregators and wholesale lenders sourcing non-agency loans from third-party originators (TPOs) and correspondents. LO Connect combines the power of LoanScoreCard Custom AUS (automated underwriting system); their product and pricing engine (PPE); and a unique integration with loan origination systems (LOSs). The first version of the product has been launched for multiple wholesalers within Calyx Point and will eventually be available on other LOSs as well.

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LO Connect allows TPOs to see branded product and pricing offers from participating wholesalers within Point. If the originator likes an eligible product and fully-adjusted price, they can run “upfront decisioning” against Custom AUS and get back an in-depth Findings Report which delivers an early indication of the likelihood that the specific investor will approve the loan. Uniquely, any Point originator can use LO Connect without first having a business relationship with the investor or needing to put together a full loan package. This saves time and effort for both the TPOs and the investors.

From an originator’s perspective, it helps the lender determine who to sell specific loans to and which investors to develop a relationship with. It also eliminates the likelihood that the originator will quote the wrong information to the borrower.

For wholesalers and investors, LO Connect is a more efficient way to distribute and promote their product and pricing offerings to originators, and it reduces “false starts” that can increase operating costs, require HMDA filings and foster bad will with correspondents and brokers.

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Because LO Connect operates independently from the wholesaler’s submission portal, it can be implemented in as little as 60 days.

“LO Connect provides automation and visibility that many TPOs don’t have at all today,” said Ben Wu, executive director at LoanScoreCard. “Because LO Connect is run at point of sale, TPOs receive an early look into whether a loan file is likely to be accepted by a wholesaler, without taking up anyone’s time—particularly the borrower’s or the wholesaler’s, who, if they see the file prematurely, have a tremendous burden to actually underwrite it, render a decision, issue disclosures, etc.”

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The Place For Thought Leaders And Visionaries

Lender Selects New AUS For Jumbo Product

New Penn Financial, Plymouth Meeting, Penn., a leading national lender, has selected LoanScoreCard’s custom underwriting engine, Custom AUS, for its non-agency loans. LoanScoreCard’s Custom AUS is an automated underwriting solution that allows lenders to customize credit decisioning and safely originate compliant assets. The system delivers an underwriting decision and provides an assessment report that includes a breakdown of every rule applied and whether the loan passed or failed a particular guideline—creating an audit trail for underwriting and ability-to-repay decisions. It also accommodates third-party origination programs and helps ensure consistent, transparent application of credit policy.

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Founded in 2008, New Penn Financial is a ShellPoint Partners Company and is licensed in 48 states. The company offers a full line of mortgage finance products including government, conforming, jumbo, non-QM and HARP loans. In 2015, New Penn originated over $7 billion.

“LoanScoreCard’s Custom AUS will help us underwrite our jumbo, non-agency loans in a timely and efficient manner,” said Terri Merlino, chief credit officer at New Penn. “Underwriting these loans manually meant that just one loan could take hours. We needed a solution that could keep up with the increased volume and demand, and free up our underwriters’ time to focus on the more complex transactions.”

“LoanScoreCard’s Custom AUS is designed to increase efficiency and accelerate the origination and investment processes,” said Ben Wu, executive director at LoanScoreCard. “At the same time, it helps assure compliance and creates

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The Place For Thought Leaders And Visionaries

Executive Spotlight: Ben Wu of LoanScoreCard

BenWu_LoResBen Wu is executive director of LoanScoreCard, a leading provider of automated underwriting and compliance solutions and subsidiary of CalyxSoftware. Wu has more than 20 years of experience in the mortgage industry and is one of the founding members of CalyxSoftware. Joining the company in 1994, Wu developed the first Windows version of Point. Since then, Wu has been instrumental in the conception and implementation of several Calyx solutions, including Point Central, WebCaster and LoanScoreCard. Wu holds a bachelor’s degree from the University California Berkeley and a master’s degree in computer science from Stanford University. Here’s how he sees mortgage lending:

Q: Non-agency originations have grown significantly over the past year. What are some of the challenges that lenders face if they underwrite these loans manually?

BEN WU: The non-agency space is growing by leaps and bounds. Although it’s still a small portion of overall mortgage originations (representing less than 20% of all mortgages), it grew approximately 40% in 2015. From an originator’s perspective, manually underwriting these mortgages can take hours, sometimes days, for just one loan. These manual processes are also prone to human error and can expose you to compliance risk. For example, loan officers need to follow the different guidelines of different investors. But if each investor has a 100+ page document that the loan officer needs to follow, it’s practically impossible to originate correctly to all of these different guidelines. And of course, there’s the fear that if you don’t dot every “i” and cross every “t”, then you’re in a possible buy back situation, which could potentially put an originator out of business. Not only have lenders had to rework their entire workflow to be in compliance with QM agency loans, they have this additional growing need for what amounts to a separate workflow to ensure compliance and risk for non-agency originations.

Q: Are there any solutions available that can help them automate non-agency underwriting?

BEN WU: Our company offers a Custom Automated Underwriting System (AUS) that allows lenders to customize credit decisioning and safely originate compliant assets. Whether you’re a correspondent originator selling to secondary market investors or a bank or credit union originating loans to be held in portfolios, we can take whatever set of guidelines you are underwriting to and capture that within our engine. Custom AUS delivers an underwriting decision and an assessment report that includes a breakdown of every rule applied to that loan and whether you passed or failed that particular guideline—creating an audit trail for underwriting and ability-to-repay decisions. It can also accommodate third-party origination programs and helps ensure consistent, transparent credit policy application to prove Fair Lending. This automated solution helps underwriters focus on exceptions and the proper application of credit policy—improving efficiency and giving lenders greater peace of mind.

Q: It’s been six months since TRID has taken effect. What’s the impact been on your company and your clients?

BEN WU: TRID has been a learning experience for our entire industry. It’s presented enormous challenges for everyone: brokers, lenders, investors, LOSs, doc providers, settlement services companies, Realtors®, etc. I assume everyone has had horror stories about the early days of implementation and/or about less-common loan situations. Our clients primarily consist of small to mid-sized organizations and it’s not uncommon for these firms to operate without an IT department, a compliance officer or a system expert; leaving many business owners and originators who are trying to wear multiple hats. We’ve made some changes to help them better face these challenges, including increasing our support staff and the number of free resources available to help make the TRID transition as painless as possible.

Q: What’s the next big thing lenders should be focusing on?

BEN WU: Now that TRID has come and gone and the industry hasn’t completely imploded, the new Home Mortgage Disclosure Act (HMDA) data collection requirements is right around the corner. Based on the CFPB’s proposal, the final rule will dramatically increase reporting requirements and surprise lenders who have been lax on HMDA reporting and analysis, thus far. The new requirements will expand potential fair lending liability for covered institutions. Using the new information, regulators, advocacy groups and plaintiff’s attorneys will draw their own conclusions as to whether discriminatory lending patterns exists. In addition to mastering the new reporting requirements, prudent lenders will also take steps to analyze and explain their lending data.

Being able to demonstrate that a consistent, quality underwriting process is used to manufacture your assets will be essential for preparing for these new rules. The time to make process and technology changes is now and not next year when the rules take effect. If TRID has taught us anything, it’s that two years may sound like a long time to get ready—but it isn’t.

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.

A QM Milestone

We talk a lot about QM compliance and how technology can help lenders comply. So, it’s nice to see that technology is actually being used for this purpose and helping lenders. In this case, LoanScoreCard, a provider of automated underwriting engines and compliance solutions, has reached a unique milestone. To date, LoanScoreCard has generated over 1,000,000 QM Findings Reports for more than 3,000 active clients since going live August of last year.

LoanScoreCard was poised and ready when the CFPB issued their January 10 new residential mortgage rules. “Our QM engine was already generating tangible, easy-to-read reports. LoanScoreCard takes the guesswork out of QM compliance, providing not only a comprehensive report but also the retainable evidence now required,” Allen Meigide, director of operations at LoanScoreCard, explained.

Hosted in the Microsoft Azure cloud, LoanScoreCard’s QM solution offers quantifiable Findings Reports that determine whether a file is considered a Qualified Mortgage, with a secondary determination for either Safe Harbor or Rebuttable Presumption for that QM type in a potential Ability-to-Repay violation claim, regulatory audit, or mortgage asset sale.

In addition to offering QM Findings Report, LoanScoreCard provides automated underwriting for FHA loans that help aid underwriters with their loan analysis. LoanScoreCard’s newest product, Custom AUS, delivers a fully customizable Findings Report branded with your company’s name and logo with a detailed underwriting analysis reflective of your portfolio program guidelines.

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