SOURCE: LoanScoreCard

LoanScoreCard

July 01, 2014 12:04 ET

1,000,000 QM Reports Generated and Still Going Strong

IRVINE, CA--(Marketwired - Jul 1, 2014) -   LoanScoreCard™, provider of automated underwriting engines and compliance solutions, has reached a unique milestone. To date, LoanScoreCard has generated over 1,000,000 QM Findings Reports for more than 3,000 active clients since going live August, 2013.

LoanScoreCard was poised and ready when the CFPB issued their January 10 new residential mortgage rules. "Our QM engine was already generating tangible, easy-to-read reports. LoanScoreCard takes the guesswork out of QM compliance, providing not only a comprehensive report but also the retainable evidence now required," Allen Meigide, director of operations at LoanScoreCard, explained.

Hosted in the Microsoft Azure cloud, LoanScoreCard's QM solution offers quantifiable Findings Reports that determine whether a file is considered a Qualified Mortgage, with a secondary determination for either Safe Harbor or Rebuttable Presumption for that QM type in a potential Ability-to-Repay violation claim, regulatory audit, or mortgage asset sale.

In addition to offering QM Findings Report, LoanScoreCard provides automated underwriting for FHA loans that help aid underwriters with their loan analysis. LoanScoreCard's newest product, Custom AUS, delivers a fully customizable Findings Report branded with your company's name and logo with a detailed underwriting analysis reflective of your portfolio program guidelines.

To learn more about LoanScoreCard or schedule a free demonstration of our revolutionary solutions, email Sales@LoanScoreCard.com or call 800.617.0892. 

About LoanScoreCard

LoanScoreCard is a leading provider of automated underwriting and compliance solutions, designed to meet today's regulatory challenges. As the industry's first AUS engine for QM, LoanScoreCard helps financial institutions address new CFPB regulations regarding Ability-to-Repay and Qualified Mortgages. Distinguished as the first vendor to integrate with FHA TOTAL Scorecard, LoanScoreCard offers FHA decisions at a fraction of the traditional cost. Our proprietary AUS engine can also be custom-tailored to capture your own particular underwriting guidelines to ensure that every loan originated adheres to the loan programs you have defined. LoanScoreCard provides easy-to-read Findings Reports that clearly demonstrate how a given loan meets current underwriting and compliance guidelines so that all necessary documentation is retained with the file to support lending decisions in an investor review, regulatory audit or potential claim. For more information, visit LoanScoreCard.com or call 800-617-0892.

Contact Information

  • Contact:
    Marketing Communications
    Jenny Harlowe
    +1 214.252.5636