Angel Oak Mortgage Solutions LLC is now offering QuickQual, a tool designed to help loan officers determine borrower eligibility for non-QM loans.
According to the Atlanta-based company, QuickQual is powered by LoanScorecard and delivers loan eligibility decisions within minutes–previously, the process could take up to 24 hours. The product’s automated underwriting system produces a loan eligibility report, which is also sent to the appropriate Angel Oak account executive. If the report indicates a successful pass, the loan officer can instantly submit the loan. But if the report includes issues that prevent approval, the account executive is able to view the full file, including the analytics behind the denial, and respond accordingly.
“Customer service is in our DNA, integrating QuickQual shows our dedication to client satisfaction,” said Tom Hutchens, executive vice president of production at Angel Oak Mortgage Solutions. “We realized right away that we couldn’t use an off-the-shelf solution. That’s why we spent the last 18 months working collaboratively with LoanScorecard to develop a custom solution that elegantly addresses the loan officer’s need for speed and confidence and, at the same time, aligns with our world class account executive expertise. QuickQual is synchronized with our current processes, including the Salesforce integration to ensure a smooth transition.”
After a record-breaking Q1, Angel Oak Companies’ residential mortgage lending platform reported stellar second quarter growth, having originated $681 million for the quarter, a 45 percent increase from Q2 2018, bringing its 2019 origination total to more than $1.2 billion.
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