LOS Integrates FHA Scorecards

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MORTGAGE EXPERT
3 · 29 · 12

Automated underwriting for government-insured mortgages has been integrated into a popular loan origination system.

The Federal Housing Administration provides the Technology Open to Approved Lenders Mortgage Scorecard for automated underwriting systems.

Also known as the FHA TOTAL Scorecard, the system ensures that FHA loan applicants are evaluated by the same scoring process no matter which AUS vendor is submitting the loan.

Calyx Software announced Thursday that the scorecard is now available from within the Calyx Decisioning Systems suite of products.

Using the Dallas-based service provider’s LoanScoreCard, which is reportedly approved by the Department of Housing and Urban Development, users can access the FHA Total Scorecard directly from the company’s LOS, Point, though it can also be accessed through any LOS.

Calyx, a Mortgage Daily advertiser, claims that its decisioning system saves time, reduces cost and improves the quality of each loan’s eligibility decision.

LoanScoreCard reportedly provides a complete analysis of the borrower’s loan and credit information against multiple standard or custom programs. It also delivers provide a detailed FHA Findings Report with decision from TOTAL and LoanScoreCard underwriting, as well as a set of HUD-approved messaging.

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Mortgage Daily Staff

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