Loan-Score Decisioning Systems completes integration with FHA TOTAL Scorecard

Loan-Score Decisioning Systems completes integration with FHA TOTAL Scorecard

June 26, 2009

Loan-Score Decisioning Systems has announced that it has completed the necessary integration for lenders to connect to the Federal Housing Administration (FHA)’s TOTAL Scorecard platform directly from its automated underwriting system (AUS). Loan-Score’s new integration with TOTAL Scorecard dramatically bolsters the company’s value proposition for customers that are originating significant FHA volume. Lenders that are using Loan-Score’s product and pricing engine (PPE) and AUS are able to instantly return decisions to loan officers or brokers, reduce loan acquisition costs, speed up cycle times and improve capture rates.
“The demand for FHA products has increased rapidly and our integration with TOTAL Scorecard allows clients to more efficiently manage the FHA lending process and provide better service to borrowers,” said David P. Colwell, executive vice president at Loan-Score. “In order to attain results from TOTAL Scorecard, lenders must use an AUS to connect to the system. Because Loan-Score is now an FHA integrated AUS, our clients’ end users are able to seamlessly hit TOTAL Scorecard for instant, accurate decisioning. Loan-Score’s centralized automated underwriting platform also accompanies our product eligibility and pricing engine (PPE) to deliver a comprehensive, integrated decisioning solution for both the point-of-sale and back-office. This establishes a significant competitive advantage over vendors who only offer a PPE system.”
Through Loan-Score’s configurable approach to rules-based change management, the company is able to respond quickly and accurately to market shifts with rates, guidelines and products.
Loan-Score offers its solution as an integrated best-of-breed PPE and AUS platform that can be coupled with the company’s retail, wholesale, correspondent and consumer direct portals to return best-fit products, pricing, true automated underwriting, credit pulls or re-pulls, debt management, complete pipeline visibility and up-to-date loan status. Loan-Score seamlessly integrates with back-end loan fulfillment and workflow management systems to enhance data exchange and communication between POS and LOS in an automatic, bi-directional exchange of information. In addition, Loan-Score recently launched a Portfolio Analysis Engine for servicers and private investors to evaluate portfolios and perform due diligence for buy or sell of distressed assets.
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Compliance, Originations, Residential, Servicing