Skip to main content

Loan-Score launches site to underwrite FHA loans

NationalMortgageProfessional.com
Oct 21, 2009

Loan-Score Decisioning Systems, a leader in enterprise-class decision management solutions, has announced it has officially launched LoanSCORECARD.com for mortgage bankers, community banks, credit unions, lenders and originators to connect to the Federal Housing Administration's (FHA) TOTAL Scorecard loan approval platform. The new Web site seamlessly interfaces with Scorecard to offer users an easy, efficient and cost effective automated FHA underwriting experience. Earlier this year, Loan-Score interfaced its automated underwriting system (AUS) with FHA TOTAL Scorecard, which was initially added as functionality to Loan-Score’s existing decisioning suite. The launch of LoanSCORECARD.com, however, now allows the entire mortgage industry to utilize the portal as a standalone application to decision and underwrite FHA loans, complete with conditions and an FHA certification that the home ownership centers (HOCs) will accept and review to insure. The site allows lenders, loan officers and brokers the ability to create an account, upload a 1003, pull/re-pull credit, instantly return underwriting decisions on FHA loans and manage their FHA pipeline. The primary value in LoanSCORECARD.com is that users pay only a fraction of the typical cost to automatically return eligibility. "LoanSCORECARD.com serves the gamut of mortgage bankers, community banks, credit unions, lenders and originators to conveniently and cost effectively decision FHA deals using our portal’s interface with Scorecard,” said Joe Bowerbank, senior vice president of marketing at Loan-Score. “What we’re providing is an attractive industry-wide alternative to using other FHA decisioning options.” LoanSCORECARD.com functionality allows users to: ► Create a LoanSCORECARD.com account ► Upload a 3.2 file or manually enter 1003 ► Enter a case number, lender ID; or if a TPO, a sponsor ID ► Pull or re-pull a tri-merged credit report ► Determine eligibility along with all conditions ► If eligible, the site returns a certification that can be sent to the HOCs for insurance ► Manage LO/broker’s FHA pipeline ► View full 1003, credit reports and FHA certifications For more information, visit LoanSCORECARD.com.
Published
Oct 21, 2009
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020

Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020

Regulation and Compliance
Jun 29, 2021