Loan Score Decisioning Systems, an enterprise-class pricing and automated underwriting solution provider, has announced that Wells Fargo is officially accepting FHA loans that have been determined as eligible through Loan-Score’s automated underwriting system (AUS), which interfaces with FHA TOTAL Scorecard.
A statement issued by Wells Fargo stated: “Wells Fargo Funding is pleased to announce that effective immediately, sellers approved to deliver FHA loans, when FHA eligibility results have been obtained using Loan-Score’s integration with FHA TOTAL Mortgage Scorecard. All FHA loans eligible for AUS submission must be submitted to FHA’s TOTAL Mortgage Scorecard using one of the following eligible AUSs: Freddie Mac’s Loan Prospector (LP), Fannie Mae’s Desktop Underwriter (DU), Loan-Score or www.LoanSCORECARD.com.”
In 2009, Loan-Score completed a direct system-to-system interface between its AUS and the Federal Housing Administration's TOTAL Scorecard platform for lenders to receive eligibility results on FHA loans.
Loan-Score offers connectivity to Scorecard by way of three solutions:
► Utilization of Loan-Score's comprehensive PPE, AUS and customer-facing Web portals
► Use of Web services to transparently connect to Loan-Score’s AUS
► Use of www.LoanSCORECARD.com Web portal as a standalone solution
For more information, visit www.loan-score.com.