Loan-Score Named Finalist for Mortgage Technology Magazine's Fix It Award
IRVINE, CA, July 29, 2009 - Loan Score Decisioning Systems, an enterprise-class pricing and automated underwriting provider, announced that it is has been named a finalist for Mortgage Technology magazine's Fix It award. Loan-Score emerged as one of three finalists for the integration of its automated underwriting system (AUS) with the Federal Housing Administration's (FHA) TOTAL Scorecard platform. Loan-Score's new integration with TOTAL Scorecard dramatically bolsters the company's value proposition for customers that are originating significant FHA volume. Lenders that are using Loan-Score's product and pricing engine (PPE) and AUS are able to instantly return decisions to loan officers or brokers, reduce loan acquisition costs, speed up cycle times and improve capture rates. According to the magazine, the annual Fix It award goes to a company that develops a technology tool that provides an effective solution for a particular industry problem, need or channel. Each year, publisher SourceMedia of Mortgage Technology magazine recognizes companies and/or individuals with several distinguished awards that commend leaders in the mortgage banking industry. The winners in each category are announced at a ceremony hosted by SourceMedia at the 96th Mortgage Bankers Association Exposition and Conference held in San Diego, California at the convention center on October 11. Loan-Score's new direct integration with FHA TOTAL Scorecard dramatically bolsters the company's value proposition for lenders originating significant FHA volume. Organizations using Loan-Score's product and pricing engine (PPE) and AUS are able to instantly return decisions on FHA products. "Being recognized by Mortgage Technology magazine as a finalist for its prestigious Fix It award is a huge honor," said Joe Bowerbank, senior vice president of marketing and strategic alliances at Loan-Score. "The demand for FHA products surged virtually overnight with an influx of applications that created a need for increased automation. In 2006 only 2% of originations were FHA loans, but its now spiked to more than 30%. The majority of these applications are decisioned and underwritten using AUSs that are integrated with TOTAL Scorecard, the FHA's loan approval platform. Loan-Score's AUS offers an alternative to that of using the few existing AU systems that are currently integrated with TOTAL Scorecard. We are excited about the many aspects our new integration is helping originators to better manage the frenetic pace of FHA lending. The Fix It award acknowledges our work with the FHA; we are elated to be a finalist." Through Loan-Score's configurable approach to rules-based change management, the company is able to respond quickly and accurately to market shifts with rates, guidelines and products. Loan-Score offers its solution as an integrated best-of-breed PPE and AUS platform that can be coupled with the company's retail, wholesale, correspondent and consumer direct portals to return best-fit products, pricing, true automated underwriting, credit pulls or re-pulls, debt management, complete pipeline visibility and up-to-date loan status. Loan-Score seamlessly integrates with back-end loan fulfillment and workflow management systems to enhance data exchange and communication between POS and LOS in an automatic, bi-directional exchange of information. Loan-Score will be offering demonstrations of its decisioning solutions at the 96th Mortgage Bankers Association Exposition and Conference in San Diego, October 11 - 13 at its booth and in a private meeting suite at the Hyatt Regency. Contact the company to arrange a discussion time at 623.693.1237. About Loan-Score Decisioning Systems
Founded in 2000 and headquartered in Irvine, California, Loan-Score Decisioning Systems offers clients a full suite of decisioning solutions to satisfy their individual needs from small, medium and large production and servicing organizations. The suite includes a product & pricing engine (PPE), automated underwriting system (AUS), portfolio analysis engine (PAE), channel focused point-of-sale (POS) Web portals, a system-to-system integration bridge and more. Loan-Score maintains a comprehensive, up-to-date library of investor guidelines and pricing to ensure eligibility is met and market conditions are adjusted to deliver precision-based underwriting that results in fundable and saleable loans. Our solutions are engineered to deliver swift, cost-effective implementations that integrate with existing LOSs. Clients can choose between software-as-a-service (SaaS) and also self-hosted technology models. For more information, visit www.loan-score.com or call 949-450-0102. www.loan-score.com or call 949-450-0102.
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CONTACT:
Joe Bowerbank
Loan-Score Decisioning Systems.
949.378.9685