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IRVINE, Calif., June 26, 2019 (GLOBE NEWSWIRE) -- LoanScorecard®, the leading provider of non-agency automated underwriting systems (AUS), today announced that it has partnered with Sprout Mortgage to power Sprout’s newly launched AUS, the ACORN System.
Headquartered in East Meadow, NY, Sprout Mortgage is a rapidly growing lender that specializes in non-Qualified Mortgage (non-QM) loan products that feature flexible qualifying criteria and common-sense underwriting for residential real estate investors, self-employed borrowers, and those with recent credit events.
Under this partnership, LoanScorecard’s Portfolio Underwriter™ technology powers the Sprout ACORN System. This solution allows brokers to run loan scenarios and instantly determine potential options across Sprout Mortgage’s non-QM loan products—accelerating underwriting decisions and helping brokers originate non-QM loans with greater confidence.
“At Sprout, we’re committed to providing our broker partners with solutions that allow them to better serve their borrowers and expand their businesses,” said Michael Strauss, President of Sprout Mortgage. “By leveraging LoanScorecard’s technology in our ACORN System, our broker partners can quickly and confidently inform potential borrowers of automated loan approvals through a simple self-serve process that is triggered from within their loan origination platform—which ultimately leads to more business.”
“In a flat housing market, forward-thinking lenders, like Sprout Mortgage, are differentiating themselves by using technology to better promote their non-QM products and accelerate the origination process for underserved borrowers,” said Ben Wu, Executive Director at LoanScorecard. “With our AUS technology, wholesale lenders can not only reach more brokers, but also provide them with the tools they need to ensure happier borrowers and more closed loans.”
About Loan Scorecard
LoanScorecard is the leading provider of non-agency automated underwriting, pricing and loan-loss reserve solutions designed to meet today's regulatory challenges and capitalize on market opportunities. LoanScorecard helps institutions address CFPB regulations, compliance and fair lending, and supports banks and credit unions preparing for the upcoming impacts of CECL. For more information, visit loanscorecard.com or call 800-617-0892.
|Contact:||Campbell Lewis Communications|