Technology Helps Simplify Non-QM Loan Process for Brokers and their Borrowers
IRVINE, Calif., July 16, 2019 - LoanScorecard®, the leading provider of non-agency automated underwriting systems (AUS), today announced that it has partnered with Nations Direct Mortgage (NDM) to power DirectQual, a pricing and scenario tool designed to provide preliminary pricing for various loan scenarios.
Founded in 2007, NDM is a wholesale mortgage lender headquartered in Santa Ana, Calif. The company is licensed in 35 states and specializes in originating and purchasing residential mortgage loans, including FHA, Conventional, VA, USDA and Jumbo loan products. NDM also offers three new proprietary Non-Qualified Mortgage (Non-QM) loan programs: Income Direct, Credit Direct and Investor Direct.
Powered by LoanScorecard’s Portfolio Underwriter™ technology, NDM’s DirectQual allows brokers, even if they are not yet approved NDM Mortgage Broker Partners, to import scenarios directly from Calyx® Point® or via 3.2 file upload and determine eligibility across NDM’s Non-QM loan programs. This not only simplifies the Non-QM loan process, but also helps brokers quickly find the right Non-QM program for their borrowers.
“We were looking for a solution that would help us engage with more brokers, educate them on our Non-QM products, and provide rapid pre-qualification answers brokers can depend upon,” said Martin Warren, Director of Lending at NDM. “This engine is a tremendous tool for our brokers to simplify the pre-qual process and get results for their Non-QM borrowers—consistently and quickly.”
“One of the biggest challenges wholesale lenders, like NDM, face is educating the broker community about their innovative Non-QM loan products,” said Ben Wu, Executive Director of LoanScorecard. “DirectQual allows brokers who work with or are considering working with NDM to not only see products and pricing, but also determine borrower eligibility—so they can accelerate the Non-QM origination process and provide a better borrower experience.”
Brokers can access DirectQual via Calyx Point or at www.directqual.com.
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.
About Nations Direct Mortgage
Nations Direct Mortgage is a wholesale mortgage lender specializing in FHA, VA, USDA, Conventional, Non-QM and Jumbo loan products. Founded in 2007, Nations Direct prides itself on having best in class operations and customer service. The company strives to lead the third party residential mortgage industry by providing products and services that satisfy the needs and exceed the expectations of their broker partners through an unrelenting pursuit of our four pillars of customer service; Communication, Consistency, Accessibility and Accountability. Nations Direct is located in Orange County, CA and is licensed in 35 states. For more information, please visit myndm.com or contact Martin Warren, Director of Lending, at martin@myndm.com.
