LoanScorecard Powering Angel Oak’s New QuickQual Tool for Non-QM Loans


LoanScorecard is powering Angel Oak’s new QuickQual loan tool, which aims to significantly enhance the ease and speed at which loan officers (LOs) can determine borrower eligibility for non-QM loans.

QuickQual delivers loan eligibility decisions within a matter of minutes, eliminating a process which used to take up to 24 hours, Angel Oak says. The automated underwriting system (AUS) instantly produces a loan eligibility report, which is also sent to the appropriate account executive.

If the report indicates a successful pass, the LO can submit the loan with the click of a button. 

However, should the results flag any issues, the account executive is able to view the full file – including the analytics behind it – so they can identify potential challenges and address them.

Tom Hutchens, executive vice president of production at Angel Oak Mortgage Solutions, says when it came to develop this new tool, “we realized right away that we couldn’t use an off-the-shelf solution. That’s why we spent the last 18 months working collaboratively with LoanScorecard to develop a custom solution that elegantly addresses the LO’s need for speed and confidence and, at the same time, aligns with our world class AE expertise.”

“QuickQual is synchronized with our current processes, including the Salesforce integration to ensure a smooth transition,” Hutchens adds.

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