|By Marketwired .||
|February 6, 2014 01:53 PM EST||
IRVINE, CA -- (Marketwired) -- 02/06/14 -- LoanScoreCard, a leading provider of automated underwriting and QM compliance solutions, has been accepted by Envoy Mortgage to provide Envoy's correspondent division its QM form as evidence of compliance through submission files.
"We're pleased that Envoy has reviewed the LoanScoreCard QM Findings Report and has found that it provides the compliance evidence required. We'll continue to work with organizations to streamline their operations whenever possible," Allen Meigide, director of operations at LoanScoreCard, said.
More than 175,000 QM Findings Reports have been generated since LoanScoreCard's QM product came onto the market last August. These reports are available to users of major Loan Origination Systems and can also be accessed via browser at LoanScoreCard.com or integrated into any proprietary system through web services.
LoanScoreCard is a leading provider of automated underwriting and compliance solutions, designed to meet today's regulatory challenges. As the industry's first AUS engine for QM, LoanScoreCard helps financial institutions address new CFPB regulations regarding Ability-to-Repay and Qualified Mortgages. We are also the first vendor to integrate with FHA TOTAL Scorecard, offering FHA decisions at a fraction of the traditional cost. LoanScoreCard provides easy-to-read Findings Reports that clearly capture how a given loan meets current underwriting and compliance guidelines, so that all necessary documentation is retained with the file to support lending decisions in an investor review, regulatory audit or potential claim. For more information, visit LoanScoreCard.com or call 800-617-0892.
About Envoy Mortgage
Envoy Mortgage is a full-service mortgage banking firm headquartered in Houston, TX that operates a network of retail branch locations in 48 states across the U.S. and offers nationwide mortgage origination offerings through their Correspondent Lending Division. For more information, visit envoymortgage.com/cld.