American Mortgage News

Solution extends eligibility, pricing and automated underwriting approvals to the point-of-sale

IRVINE, CA, March 14, 2008 – Loan Score Decisioning Systems, an emerging leader in enterprise-class automated underwriting solutions, announced that Majestic Home Loans Inc. (MHL), a wholesale residential mortgage lender, has rolled out its product and pricing engine, automated underwriting system (AUS), PDA Pricer™ application and broker portal to the lender’s entire broker network. Loan-Score’s comprehensive point-of-sale (POS) decisioning solution automates MHL’s previous manual pricing and underwriting processes to achieve increased efficiencies and elevated service levels.

“We needed a solution that would allow us to stay ahead of constant changes to investor guidelines and achieve pricing accuracy in today’s unforgiving market,” said Jerry Mendoza, executive vice president of MHL Home Loans. “Loan-Score remedies this through its software-as-a-service delivery model that offers clients a cost-effective pricing and underwriting solution.”

While some clients choose to maintain business rules themselves, MHL opted to engage with Loan-Score’s managed services division to utilize its team of business analysts to ensure the accuracy of MHL’s products, pricing and eligibility requirements. Programs and guidelines are written as custom for MHL so the lender can private brand label the solution.

Brokers in MHL’s network now have access to a robust Web portal that offers instant decisioning and real-time status on their deal pipeline. In addition, MHL’s account executives will use Loan-Score’s PDA Pricer™, which delivers pricing and prequalification capability directly to their mobile handheld devices or blackberrys, thus offering customers on-demand access to information. Collectively, the solutions position MHL to be a highly service-oriented and responsive go-to lender that attracts quality brokers.

“Unlike most systems on the market today, our enterprise-class AUS takes into account every single credit parameter to accurately assess risk on a complex, XML-based tri-merged credit report containing all trade lines,” said David P. Colwell, senior vice president of strategic solutions at Loan-Score. “Most product and pricing solutions are inept at truly returning best-fit products and risk-based pricing complete with conditions/stips and AU approvals based on up-to-date investor guidelines. This lack of confidence in weaker systems has more and more lenders turning to us for help.”

MHL is also slated to utilize the solution’s central rules repository to help launch its retail lending channel this spring.

About Majestic Home Loans

Founded in 1996, Majestic Home Loans Inc. (MHL) is a full-service A and Alt-A mortgage banker operating in Chino Hills, California. For more than 10 years, MHL has been originating and supplying quality residential mortgage lending programs to a wide network of trusted brokers. MHL has built its organization on three primary principles: competitive rates and programs, advanced technology, and a commitment to consistently deliver superior quality of service. Together, these three fundamental pillars position MHL to sustain itself as a highly valued go-to lender among its broker network. For more information, visit www.mhlwholesalelender.com.

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 extends various functionality to the point-of-sale using its customer-facing 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.