Portfolio Underwriter allows portfolio lenders to customize credit decisioning and safely originate non-agency loans that they intend to put on their balance sheets. It captures a portfolio lender’s program guidelines within its engine and delivers a rules-based underwriting decision in seconds. Results of the decision are documented in a findings report. This report includes program-specific, conditional underwriting criteria utilized in the data analysis.
The tool seamlessly integrates with the Calyx Point and PointCentral loan origination systems. The connection facilitates bi-directional data flow and provides a single system of record for all loan documentation. Centralization of processes and documents streamlines preparation for audits, board reviews and regulatory submissions.
“Manually underwriting portfolio loans not only exposes lenders to Fair Lending issues, but is also time-consuming and costly,” says Ben Wu, executive director at LoanScorecard. “By incorporating automated technology like Portfolio Underwriter, portfolio lenders using Point and PointCentral can improve efficiency by streamlining decisioning for their unique programs and focus on more complex transactions.”
“While lenders are certainly familiar with agency AUS, they are also aware of gaps in automated decisioning for their portfolio products,” adds Bob Dougherty, vice president of business development at Calyx Software. “Portfolio Underwriter helps lenders who originate portfolio loans automatically determine the appropriate response for their institution – ensuring compliance with Fair Lending at the point of sale and in the underwriting process.”