Skip to main content

FHA reaching out to 675,000 at-risk homeowners in second phase of direct mail campaign

Jun 18, 2008

Trilogy Commercial Lending launches phase one of Pinnacle IT Development’s commercial automated underwriting systemMortgagePress.comTrilogy Commercial Lending, Pinnacle IT Development, commerical mortgages, CAUS, Prequal Loan Quote Pinnacle IT Development, a provider of technology to the financial services industry, has announced that Trilogy Commercial Lending has launched phase one of the Commercial Automated Underwriting System (CAUS) to their small-balance commercial lending clients. This first phase of what will be a comprehensive Web-based automated underwriting system specifically for small-balance commercial lending includes the Prequal Loan Quote function coupled with a real-time pricing engine. The upfront guesswork, typical to small-balance commercial lending, is a thing of the past. Now users receive an accurate debt service coverage ratio (DSCR) calculation, real-time pricing and a transaction-specific requirements list. "As a Web-based system, CAUS is available to our clients on-demand," said Sean Brogan, Trilogy Commercial Lending president. "It empowers brokers and community banks to make confident business decisions and commitments to their customers at the beginning of the transaction. The Prequal Loan Option and pricing engine allows our clients to provide their customers with ease of execution and quick delivery." The volume of small balance commercial loans is projected to be $200 billion in 2008; up 154 percent from the 2004 level of $130 billion. Mortgage Brokers and community banks seeking a profit-niche opportunity outside of the unstable residential lending market are embracing the underserved small-balance commercial real estate segment. The CAUS allows newcomers to enter this market space intelligently and confidently without fear of compromising loan origination and referral relationships. Currently, community and mid-sized banks are under more pressure from the Federal Deposit Insurance Corporation (FDIC) to avoid high concentrations of commercial loans to maintain more adequate loan loss reserves and aggressive credit risk-management practices. CAUS allows these institutions to eliminate subjectivity from the approval process and ensure that underwriting standards are in compliance. "In the 90s, automated underwriting systems changed the face of residential lending in terms of uniform risk assessment, accurate pricing and regulatory compliance," said Erik Rowan, president of Pinnacle IT Development. "We've matched the business needs of the small-balance commercial market with the technology necessary for prudent lending practices." For more information, visit www.trilogycl.com.
About the author
Published
Jun 18, 2008
In Wake Of NAR Settlement, Dual Licensing Carries RESPA, Steering Risks

With the NAR settlement pending approval, lenders hot to hire buyers' agents ought to closely consider all the risks.

A California CRA Law Undercuts Itself

Who pays when compliance costs increase? Borrowers.

CFPB Weighs Title Insurance Changes

The agency considers a proposal that would prevent home lenders from passing on title insurance costs to home buyers.

Fannie Mae Weeds Out "Prohibited or Subjective" Appraisal Language

The overall occurrence rate for these violations has gone down, Fannie Mae reports.

Arizona Bans NTRAPS, Following Other States

ALTA on a war path to ban the "predatory practice of filing unfair real estate fee agreements in property records."

Kentucky Legislature Passes Bill Banning NTRAPS

The new law prohibits the recording of NTRAPS in property records, creates penalties if NTRAPS are recorded, and provides for the removal of NTRAPS currently in place.