United Residential Lending Rolls Out Loan-Score's Point of Sale Solution to its Broker Network
IRVINE, CA, Janurary 14, 2009 - Loan-Score Decisioning Systems, an enterprise-class pricing and automated underwriting solutions provider, announced that United Residential Lending, a national mortgage banker, has rolled out its integrated product and pricing engine (PPE), automated underwriting system (AUS) and broker portal. The solution seamlessly integrates with Del Mar DataTrac®, United Residential's back end loan processing system to deliver enhanced customer visibility into the approval process. "Loan-Score's solution allows our customers to visit our new broker portal, run product and pricing scenarios, upload a 1003, pull or re-pull credit, return a decision and receive immediate automated underwriting approvals while at the point-of-sale," said Shane O'Dell, senior vice president at United Residential Lending. "We selected Loan-Score because of the depth their AUS and PPE offers and their proven integration with DataTrac. The integration automatically updates our brokers' pipelines with loan details and condition status as the back office makes changes. Providing customers that level of visibility and service is paramount to growing our business. The portal we've rolled out really empowers our brokers with the capability to provide fast and accurate answers to borrowers." United Residential is utilizing Loan-Score's outsourced managed services team to maintain its programs, custom pricing and overlays to ensure that constant investor changes are up-to-date and accurate. Loan-Score also automates United Residential's daily rate sheet creation and maintenance, making it a virtual display of rates that is easily accessible at the portal. The solution is delivered to United Residential using Loan-Score's low-cost software-as-a-service (SaaS) model, which allows lenders to operate with minimal IT infrastructure. "Today's market is forcing lenders to operate in a highly profit-pinched environment," said David Colwell, executive vice president at Loan-Score. "United Residential already operates an existing retail channel and had a recent business agenda to launch and grow a new wholesale channel. However, they wanted to kick start operations without adding lots of resources to achieve growth. By using Loan-Score's AUS at the point-of-sale, the system basically serves as a 'deal filter' that accurately determines whether loans are actually fundable before they go to underwriting. As a result, by the time files reach fulfillment, underwriters only have to review conditions and focus on loan variances. Essentially, using our PPE and AUS to house all investor guidelines and pricing in a centralized rules repository allows United Residential to utilize the platform to grow both channels without having to add more staff." Loan-Score offers its solution as a standalone enterprise Pricing and AUS platform; various components can also be coupled with the company's retail, wholesale, consumer direct and correspondent solutions to deliver best-fit products and risk-based pricing, rules-based conditions, credit pulls or re-pulls, debt management, complete pipeline visibility and updated loan status. The solution can be integrated in a bi-directional, real-time fashion with leading loan fulfillment platforms. About United Residential Lending
United Residential Lending's company philosophy is simple: provide superior service, helpful technology, and a wide range of innovative and competitive programs to its broker partners. Whether your company consists of a few or many employees, our commitment to your business remains the same. United Residential Lending's vision was made a reality by its senior management team, whose drive and dedication coupled with more than 100 years of combined mortgage banking experience provides United Residential Lending with a strong foundation for success. Our ability to offer an array of competitive niche products is derived from long-standing and loyal relationships that have been built and nurtured over many years. At United Residential Lending, our team is knowledgeable, experienced, and committed to providing you with responsive service. We encourage our broker partners to take advantage of the many tools and talents that the team at United Residential has to offer. United Residential offers Alternative, Non-Conforming, High Loan-to-value programs for 1st mortgages on a nationwide level. United Residential Lending, LLC is an Arizona-based Limited Liability Company. For more information, visit www.urlending.com or call (888) 875-8326. About Loan-Score Decisioning Systems
Founded in 2000 and headquartered in Irvine, California, Loan-Score Decisioning Systems offers a true, enterprise-class AUS and product/pricing engine available on a software-as-a-service (SaaS) and also a self-hosted basis for all lending channels and product types. The company also extends various functionality to the point-of-sale using its Web portals. Loan-Score maintains a comprehensive, up-to-date library of investor guidelines and pricing to ensure eligibility is met and market conditions are adjusted to deliver precision-based underwriting that results in fundable loans. The company's solutions are engineered to deliver swift, cost-effective implementations that integrate with existing LOSs and avoid inflexible programming efforts and high maintenance costs. Through Loan-Score's unique approach to customer service, the company's on-demand SaaS model offers clients the option to utilize its extensive library of investor guidelines, or the ability to manage unique program guidelines themselves. Loan-Score's solutions are in production with small, medium and large lending institutions. For more information, visit www.loan-score.com or call 949-450-0102.
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CONTACT:
Joe Bowerbank
Loan-Score Decisioning Systems
949.450.0102, ext. 204