Loan-Score Integrates with FHA Score-Card System

Decision management solution provider Loan-Score Decisioning Systems today fills in a key role between lenders and the Federal Housing Administration‘s TOTAL Scorecard platform. Loan-Score completed the integration of its automated underwriting system (AUS) into the FHA’s platform, allowing lenders to receive results directly from the Scorecard, which uses an algorithm to determine an “accept” or “refer” decision on FHA loans. Those lenders already using Loan-Score’s product and pricing engine can take the system a step further, returning decisions immediately to loan officers or brokers and speeding up the process, according to company statements. “The demand for FHA products has increased rapidly and our integration with TOTAL Scorecard allows clients to more efficiently manage the FHA lending process and provide better service to borrowers,” says David Colwell, executive vice president at Loan-Score. “In order to attain results from TOTAL Scorecard,” he adds, “lenders must use an AUS to connect to the system. Because Loan-Score is now an FHA integrated AUS, our clients’ end users are able to seamlessly hit TOTAL Scorecard  for instant, accurate decisioning.” Loan-Score’s AUS joins the ranks of Fannie Mae, Freddie Mac, Chase and Countrywide/Bank of America, which also developed systems that are now integrated with FHA’s Scorecard. But Loan-Score touts its status as the first commercially available AUS vendor to lay claim to integration. Write to Diana Golobay.