Non-QM Pricing & Scenario Tool To Bring Efficiency To Underwriting Processes
IRVINE, Calif., March 03, 2020 -- LoanScorecard®, the leading provider of non-agency automated underwriting systems (AUS), announced today that Carrington Mortgage Services has implemented its non-agency AUS, Portfolio Underwriter™, as its Non-QM Pricing & Scenario Tool.
Founded in 2007, Carrington Mortgage Services, LLC (CMS), a subsidiary of Carrington Holding Company, is a retail, wholesale and correspondent mortgage lender headquartered in Anaheim, Calif. CMS’s diverse product offerings, which are designed to meet the needs of today’s wholesale mortgage brokers and non-delegated originators, include conventional Fannie Mae and Freddie Mac products, FHA, VA and USDA products and Carrington’s proprietary Non-Agency Advantage series loan products, which were specifically developed to further demonstrate our ongoing commitment to underserved borrowers.
“We are committed to providing our broker and correspondent partners with solutions to help better serve their borrowers and grow their business,” said Greg Austin, EVP of Carrington Mortgage Services. “By implementing LoanScorecard’s technology in our IQual AUS tool, our broker and correspondent partners can quickly and confidently inform potential borrowers of automated loan approvals through an easy-to-use solution to help them select the best Carrington non-agency loan product for their customers.”
“As more lenders, like Carrington, develop expertise in non-agency lending, they need the right technology at their disposal to bring efficiency to their origination and underwriting processes,” said Raj Parekh, Managing Director of LoanScorecard. “Our Portfolio Producer solution allows Carrington to deliver immediate feedback on eligibility, pricing, and guideline analysis to improve the overall mortgage experience for all parties involved.”
About Loan Scorecard
LoanScorecard is the leading provider of non-agency automated underwriting, pricing and loan-loss reserve solutions designed to meet today's regulatory challenges and capitalize on market opportunities. LoanScorecard helps institutions address CFPB regulations, compliance and fair lending, and supports banks and credit unions preparing for the upcoming impacts of CECL. For more information, visit loanscorecard.com or call 800-617-0892.