*Vendor Automates The FHA Exchange*
**New Features Are Launched**
***FHA continues to be a big part of the mortgage lending space. FHA’s share is very strong. To this end, vendors are looking to launch new ways to make it easier and more cost effective for lenders to deal with FHA. In this case, PROGRESS in Lending has been told that origination vendor LendingQB announced that its PriceMyLoan automated underwriting systems (AUS) interface with the Federal Housing Administration’s (FHA) TOTAL Scorecard platform can be utilized to decision and sell loans direct to Ginnie Mae.
****Ginnie Mae issuers can utilize LendingQB’s interface with TOTAL Scorecard in one of two ways. First, if a lender has already implemented and is actively using LendingQB’s AUS to underwrite all types of loans, they also have automatic access to the interface and can begin using it immediately. Second, if a lender is not already using LendingQB’s platform, Web services are available to allow them to access the interface from within their existing loan origination system (LOS) without having to purchase any additional software.
****“Ginnie Mae issuers represent a sizable portion of the FHA market and are continuing to play a vital role in originating quality FHA loans,” said Binh Dang, president of LendingQB. “Lenders that are interested in taking advantage of our AUS’ interface with TOTAL Scorecard can seamlessly connect to our platform to return instant, accurate decisioning on FHA products. Our offering provides lenders with another option to efficiently and cost effectively underwrite FHA loans that are specific to Ginnie Mae issuers.”
****LendingQB’s platform is completely Web-based and is comprised of LO, broker, and consumer direct point-of-sale Web portals for all lending channels; product and pricing engine; PriceMyLoan AUS; loan processing; electronic documents, closing; secondary marketing; and interim servicing. LendingQB also accompanies business intelligence (BI) and data analytics functionality along with detailed reporting that helps lenders locate and translate their data into actionable information, enabling them to make informed business decisions that establishes a competitive advantage and leads to greater profitability.