LendingQB Weaves Mortgage Insurance Underwriting Guidelines Into AUS

Loan origination software provider LendingQB says it has implemented mortgage insurance (MI) company underwriting guidelines into its automated underwriting system (AUS) so that MI eligibility and pricing is automatically calculated and paired with the investor's underwriting decision for a complete decision that is rendered at the point of sale.

‘One of the problems with calculating MI is that loan officers and underwriters are forced to individually visit each of the MI companies' respective websites to determine eligibility and pricing, which is time-consuming and error-prone,’ says David Colwell, vice president of corporate strategy at LendingQB.

‘Our proprietary AUS already houses the entire set of underwriting manuals for each investor. By implementing MI eligibility guidelines and rate cards into our decisioning engine, clients are able to quickly render an accurate decision with the click of a button without having to bounce to other applications,’ he adds.

LendingQB manages and ensures that all of the guidelines and rates are current in its AUS for MI companies Radian, MGIC, Essent and Genworth. When a decision is rendered, loan products are paired with eligible MI products, along with accurate debt to income calculations and, thus, correct pricing.


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