QuestSoft has integrated LoanScorecard’s automated underwriting and compliance solutions into its compliance software platform, the companies announced.
The integration will enable users of QuestSoft’s Compliance EAGLE software platform to automate underwriting for their portfolio loans and manage exceptions based on valid compensating loan factors rather than loan officer discretion.
“We designed Compliance EAGLE to automate the entire mortgage lending compliance process in a single system,” QuestSoft President Leonard Ryan said in a release. “Portfolio and non-agency lending is making a strong comeback and our customers require automated tools to safely lend and scale this growing area of business.”
“Our integration with LoanScorecard’s Portfolio Underwriter allows our clients to gain confidence that the loans they are originating are compliant from a fair lending and QM perspective,” Ryan added.
“Portfolio and non-QM are key to differentiating yourself and rapidly growing your mortgage business in today’s lending landscape. Increasingly, lenders must employ integrated, automated technology to save time, costs and reduce errors,” LoanScorecard Executive Director Ben Wu said.
“We’re pleased to partner with QuestSoft to provide their customers with access to our [automated underwriting system] from within their compliance software — speeding up the loan origination process and at the same time, ensuring fast, consistent, unbiased credit policy application to better serve borrowers and demonstrate fair lending,” Wu added.