Costa Mesa, Calif.-based LendingQB has announced that its PriceMyLoan automated underwriting systems (AUS) interface with the Federal Housing Administration's (FHA) TOTAL Scorecard platform can now be utilized to decision and sell loans direct to Ginnie Mae.
According to the company, Ginnie Mae issuers can utilize LendingQB's interface with TOTAL Scorecard if a lender has already implemented and is actively using LendingQB's AUS to underwrite all types of loans. For lenders that are not already using LendingQB's platform, Web services are available to allow them to access the interface from within their existing loan origination system without having to purchase any additional software.
‘Ginnie Mae issuers represent a sizable portion of the FHA market and are continuing to play a vital role in originating quality FHA loans,’ says Binh Dang, president of LendingQB. ‘Our offering provides lenders with another option to efficiently and cost-effectively underwrite FHA loans that are specific to Ginnie Mae issuers.’