SOURCE: LoanScoreCard


July 25, 2016 13:00 ET

ACC Mortgage Selects LO Connect From LoanScoreCard

The Wholesale Lender Will Use the Solution to Make Their Non-Prime and Non-QM Loan Programs Available Through Calyx Point

IRVINE, CA--(Marketwired - July 25, 2016) - LoanScoreCard®, a leading provider of automated pricing, underwriting and compliance solutions, announced today that All Credit Considered Mortgage, Inc. (ACC Mortgage) has selected LO Connect™ as its integrated automated underwriting system (AUS), product and pricing engine (PPE), and distribution solution.

ACC Mortgage is a wholesale lender specializing in non-prime mortgages and U.S. Treasury Certified Community Development Financial Institution (CDFI) that has provided credit to underserved markets since 1999. Headquartered in Rockville, Md., the company is licensed in California, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Illinois, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Texas and Virginia.

LO Connect combines the power of LoanScoreCard Custom AUS, its PPE, and a unique integration with Calyx Point®. It allows third-party originators (TPOs) to see branded product and pricing offers from participating wholesalers within Point. In the case of ACC, these offerings will include non-prime and non-QM loan programs. If the TPO likes an eligible product and fully-adjusted price, they can run "upfront decisioning" against Custom AUS and get back an in-depth Findings Report which delivers an early indication of the likelihood that the specific investor will approve the loan. In addition, LO Connect eliminates the likelihood that the TPO will quote the wrong information to the borrower.

"In the current regulatory environment, it's important to get accurate information upfront in order to provide disclosures correctly and originate in a consistent fashion," said Robert Senko, president of ACC Mortgage. "LO Connect will allows us to offer the broker community the first automated subprime underwriting system to Point users and non-Point users, via our Warp Speed Underwriting, to help streamline the front-end and decisioning of non-QM loans, as well as help us originate compliant loans and grow our wholesale business."

"As more forward-looking lenders like ACC Mortgage take advantage of the growing non-agency market, they'll need to incorporate automated technology to meet demand," said Ben Wu, executive director at LoanScoreCard. "LO Connect will provide ACC Mortgage an efficient way to distribute and promote their product and pricing offerings to TPOs -- allowing them to extend their broker reach and reduce 'false starts' that could result in increased operating costs or ill will with brokers."

About LoanScoreCard
LoanScoreCard® is a leading provider of automated underwriting and loan pricing solutions designed to meet today's regulatory challenges and capitalize on today's market opportunities. LoanScoreCard Custom AUS streamlines non-agency mortgage underwriting, eliminating manual processing delays and time wasted on unqualified loans, ensuring that loans are approved and consistently documented to satisfy ATR and fair lending compliance. Custom AUS can be tailored to capture each lender's specific credit policy and render underwriting findings that demonstrate a consistent loan manufacturing process to auditors and investors. LoanScoreCard LO Connect electronically distributes wholesale and investor products and pricing to third-party originators, providing TPOs with a real-time, interactive tool to determine borrower fit and price for non-agency programs, and enabling them to submit qualified loans to wholesalers and investors with confidence. Additionally, as the industry's first QM engine, LoanScoreCard helps institutions address CFPB regulations, rendering more than four million QM Findings Reports to date. For more information, visit or call 800-617-0892.

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