Magazine article Mortgage Banking

LendingQB's PriceMyLoan Interface Can Be Used to Decision and Sell Loans to Ginnie Mae

Magazine article Mortgage Banking

LendingQB's PriceMyLoan Interface Can Be Used to Decision and Sell Loans to Ginnie Mae

Article excerpt

LendingQB, Costa Mesa, California, a provider of seamless mortgage lending technology, has announced that its PriceMyLoan automated underwriting systems (AUS) interface with the Federal Housing Administration's (FHA's) TOTAL Scorecard platform can be utilized to decision and sell loans direct to Ginnie Mae. LendingQB's PriceMyLoan AUS became a Department of Housing and Urban Development--approved (HUD-approved) system by which to underwrite FHA loans in 2010.

Ginnie Mae issuers can use LendingQB's interface with TOTAL Scorecard in one of two ways. First, if a lender has already implemented and is actively using LendingQB's AUS to underwrite all types of loans, it also has automatic access to the interface and can begin using it immediately. Second, if a lender is not already using LendingQB's platform, Web services are available to allow the lender to access the interface from within its existing loan origination system (LOS) 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," said Binh Dang, president of LendingQB. …

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