Automation of the underwriting process was one of the biggest leaps forward in the modern mortgage era, ensuring consistent, fair and secure lending after the financial crisis. But the many benefits of using automated underwriting systems – required for agency loans – have not been available at an affordable price to lenders and investors who keep loans in portfolio. For these non-agency loans, many financial institutions still rely completely on a manual process, which increases risk and leaves many high-quality loan opportunities on the table.
LoanScorecard solves this problem with its Portfolio Underwriter solution, the only non-agency AUS available today. This revolutionary solution enables direct lenders, wholesalers and investors to confidently, consistently and securely deploy more capital and distribute differentiating lending products to this underserved and growing market.
“Underwriting each folder manually is at high risk of human error, time-consuming and expensive, and can be problematic to handle exceptions consistently and without unintended bias,” said Executive Director Ben Wu. By running the Portfolio Underwriter engine with LoanScorecard, you control your credit risk profile and documentation requirements. We are the only technology/underwriting engine capable of executing the guidelines of your specific lending programs. »
Portfolio Underwriter provides originators and underwriters with a single, detailed report bearing their company logo and information. It also includes detailed underwriting analysis based on specific credit policies and criteria.
Lenders, wholesalers and investors rely on Portfolio Underwriter to:
At any point in the process, clients are running Desktop Underwriter (DU) and Loan Product Advisor (LPA), instead they are running LoanScorecard for loans outside of agency settings. Instead of setting up an entirely different department for manual processing of non-QM loans, Portfolio Underwriter helps clients reduce overhead, increase efficiency, and translate a loan’s story in real time.
Portfolio Underwriter provides data-driven analysis that protects lenders or wholesalers from fair lending violations resulting from the inherently inconsistent and resource-draining manual underwriting process.
The LoanScorecard engine translates guidelines and provides automated, rule-by-rule analysis and outcome, so lenders can reliably underwrite loans and focus more on exception management.
With Portfolio Underwriter, clients can confidently open a non-QM lending channel to generate new business.
The efficiency of non-agency AUS allows for greater production per individual, enabling clients to quickly scale non-agency loans to meet or exceed overall revenue goals.
“Clients and influencers are learning that with DU and LPA, Portfolio Underwriter is the third step in the automated underwriting ecosystem and the key to serving more borrowers and increasing production in the highly sought-after non-QM lending market. and wallet,” Wu said.
“Non-agency lending is now taking off as a viable, market-driven channel with more and more players entering the space or doubling up with our portfolio underwriter to navigate the nuances and simplify the complexities for a robust mortgage growth and scalability.”
PRODUCT: portfolio underwriter
INSTANTANEOUS: LoanScorecard’s Portfolio Underwriter enables capital markets investors, banks, and credit unions to analyze loan data based on their unique products and specifications in seconds. The engine makes it easier to deploy capital, is more efficient and consistent than manual underwriting, and ensures sound mortgage operations when it comes to fair lending. The engine empowers non-QM market leaders and enables new players to enter the space with confidence.