Portal to Streamline FHA Loans

Portal to Streamline FHA Loans IRVINE, CA - Loan-Score Decisioning Systems, a leader in enterprise-class decision management solutions, today announced it has officially launched www.LoanSCORECARD.com: for mortgage bankers, community banks, credit unions, lenders and originators to connect to the Federal Housing Administration's (FHA) TOTAL Scorecard loan approval platform. The new Web site seamlessly interfaces with Scorecard to offer users an easy, efficient and cost effective automated FHA underwriting experience.

Earlier this year Loan-Score interfaced its automated underwriting system : (AUS) with FHA TOTAL Scorecard : , which was initially added as functionality to Loan-Score's existing decisioning suite. The launch of LoanSCORECARD.com, however, now allows the entire mortgage industry to utilize the portal as a standalone application to decision and underwrite FHA loans, complete with conditions and an FHA certification that the home ownership centers (HOCs) will accept and review to insure.

The site allows lenders, loan officers and brokers the ability to create an account, upload a 1003, pull/re-pull credit, instantly return underwriting decisions on FHA loans and manage their FHA pipeline. The primary value in LoanSCORECARD.com is that users pay only a fraction of the typical cost to automatically return eligibility.

Earlier this year, Mortgage Technology magazine named Loan-Score a finalist for its annual Fix It award as a result its new interface to FHA TOTAL Scorecard. Initially, the interface was first offered via the purchase of Loan-Score's AUS, but can now be utilized on a per loan submission basis by simply creating an account with LoanSCORECARD.com. This variable cost model allows users to utilize the site on an as needed basis, which keeps upfront and reoccurring costs very low.

"LoanSCORECARD.com serves the gamut of mortgage bankers, community banks, credit unions, lenders and originators to conveniently and cost effectively decision FHA deals using our portal's interface with Scorecard," said Joe Bowerbank, senior vice president of marketing at Loan-Score. "What we're providing is an attractive industry-wide alternative to using other FHA decisioning options."
Source: Loan-Score Decisioning Systems

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