MORE Lending has implemented LoanScorecard’s Portfolio Producer as its automated underwriting system, product and pricing engine, and distribution solution, the companies announced.
Portfolio Producer provides third-party originators (TPOs) access to a wholesale lender’s product and pricing options from within their loan origination system or via the wholesale lender’s website.
By using Portfolio Producer, MORE Lending will be able to instantly distribute the guidelines and pricing for their non-agency loan programs to TPOs via Calyx Point and their website, the companies said. TPOs can search based on borrower profile, product type, rate and price to provide eligible products and pricing options to potential borrowers.
“Our goal is to provide the broker community with an automated solution that allows them to learn about our non-agency, non-QM offerings and gives them greater confidence when sharing these financing options with their borrowers,” MORE Lending President Steve Majerus said in a release. “LoanScorecard’s Portfolio Producer, combined with our first-class customer support, helps us differentiate our company among brokers and provide them with more options for their borrowers.”
LoanScorecard Executive Director Ben Wu said as wholesale lenders like MORE Lending look to take advantage of the growing non-agency, non-QM market, technology will be a critical factor in helping them distribute the product and pricing, as well as determine borrower eligibility.
“With Portfolio Producer, MORE Lending can increase broker adoption by delivering real-time product guidelines and pricing, as well as pre-qualifications, and ultimately accelerate their business growth,” Wu said.