Friday, May 15, 2009
Loan-Score is using Wordpress
I was pleasantly surprised to see another mortgage technology vendor was sharing thoughts with the industry through their own blog. The folks over at Loan-Score are launching a new WordPress blog and I have no doubt they'll be sharing some very interesting information.
Over the past couple of years, the automated underwriting business has fallen out of favor a bit, catching some of the blame for rushing billions of dollars worth of bad loans through the application process and into the pipelines of lenders, many of whom were subsequently forced out of business by buybacks when the borrowers defaulted.
Product & Pricing Engines (PPEs) don't really underwrite the loans, but they give loan officers a glimpse at what's possible for a given borrower given a certain set of assumptions. They have become important tools for originators.
Because they bolt onto the front of the origination process, PPEs have to integrate well with other tools lenders use, which is why I was pleased to see Loan-Score open up that discussion on their blog. I'll definitely be subscribing to this feed and suggest you do as well.
Photo credit: Nikolay Bachiyski