LoanScoreCard, a provider of automated underwriting systems (AUS), has teamed up with LoanStream Mortgage (LSM) to leverage its pricing and scenario tool, QualONE.
Under the partnership, LoanScoreCard’s Pricer1 product and pricing engine, as well as its Portfolio Underwriter, will power LoanStream’s QualONE. This will allow brokers and correspondents to run loan scenarios, and instantly determine the eligibility for various products, accelerating the origination process for non-QM loans.
“We considered building proprietary technology but decided against it after [a] thorough review of LoanScoreCard and the benefit of its ownership by Calyx, who continues to be a preferred broker loan origination system provider,” LoanStream Mortgage President Serene Vernon said. “By leveraging the power of their PPE and AUS in QualONE, we’re confident we’ll be able to reduce origination costs, as well as help our broker and correspondent partners find the right non-QM products for their hard-to-fit borrowers – quickly and confidently.”
Mortgage brokers can access QualONE on LoanStream’s website, client portal, or through the Calyx Point loan origination system.
“Today, many lenders, like LSM, are considering whether to build or buy technology that can automate decisioning for their non-QM products,” said Ben Wu, executive director at LoanScoreCard. “Often, these lenders choose our technology because, in addition to streamlining the non-QM loan origination process for their broker and correspondent partners, we’re able to offer significant advantages in terms of cost and time to market.”