MORE Lending, the wholesale division of Synergy One Lending, a San Diego-based mortgage lender, is now using Portfolio Producer from LoanScorecard as its automated underwriting system (AUS), product and pricing engine (PPE), and distribution solution.
Licensed in 42 states, MORE Lending offers a variety of non-agency loan products, including program options for foreign nationals, interest-only, non-warrantable condos, and recent credit events such as deeds-in-lieu, short sales and foreclosures.
Portfolio Producer is a sales distribution system that integrates with LoanScorecard’s AUS, Portfolio Underwriter, and PPE, Pricer1. It provides third-party originators (TPOs) access to a wholesale lender’s product and pricing options from within their loan origination system (LOS) or via the wholesale lender’s website.
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 its website.
TPOs can search based on borrower profile, product type, rate and price to provide eligible products and pricing options to potential borrowers. If they like an eligible product and fully-adjusted price, TPOs can run “upfront decisioning” and get back an in-depth Findings Report. The report provides an early indication of the likelihood that MORE Lending will approve the loan and reduces the likelihood that the TPO will provide inaccurate quotes to the borrower.