How they describe themselves: LoanScorecard® is a leading provider of non-agency automated underwriting, loan pricing solutions and loan-loss solutions 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.
How they describe their product/innovation: Portfolio Underwriter® from LoanScorecard is the only underwriting engine that exists outside of the agency box. Portfolio Underwriter enables capital market investors, banks, and credit unions to analyze loan data based on their unique products and specifications in seconds. The easy-to-use engine makes it easier to deploy capital, is more efficient and consistent than manual underwriting, and ensures soundness in mortgage operations in regards to fair lending. Our engine empowers non-QM market leaders and enables new players to enter the space with confidence.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms