IRVINE, November 15, 2013 – LoanScorecardTM, provider of automated underwriting engines and compliance solutions, has been reviewed by Wells Fargo and provides the data needed to complete their pre-purchase points and fees review. The LoanScorecard QM Findings Report can now be submitted to Wells Fargo in lieu of its Fee Details Form.
"We are honored to be the first acceptable vendor alternative," said Allen Meigide, director of operations at LoanScorecard. "We were the first QM solution on the market, and our customers will be pleased with the time saved in leveraging our QM Findings on loans delivered to Wells Fargo."
"The LoanScorecard QM Findings is quick and user friendly. The findings clearly outline how a loan complies with QM requirements," said Chirag Amin, Buffalo operations & underwriting manager at Premium Mortgage. "With an ever-so-quickly changing environment, these findings help streamline our process and efficiency to the upcoming mortgage environment we all will be facing."
LoanScorecard has rendered more than 35,000 QM Findings Reports to date and is available to users of major Loan Origination Systems. It can also be directly accessed via browser at LoanScorecard.com or integrated into any proprietary system through web services. Brokers, lenders, wholesalers and investors stand to benefit from having a LoanScorecard QM Findings in every file.
About LoanScorecard
LoanScorecard is a leading provider of non-agency AUS, loan pricing solutions and borrower point-of-sale designed to meet today's regulatory challenges and capitalize on current market opportunities. LoanScorecard helps institutions address CFPB regulations through its QM Findings, the industry's first qualified mortgage (QM) engine, which has rendered more than 5 million QM findings reports to-date and supports banks and credit unions preparing for the upcoming impacts of CECL.
For more information, visit loanscorecard.com or call 800-617-0892.
For press inquiries, please contact:
Jessica Ruiz-Krout
Campbell Lewis Communications
212.995.8058
jessica@campbelllewis.com
