NewFi implements LoanScorecard’s Pricer1 and Portfolio Underwriter
Technology allows wholesale lender to provide brokers with an eligibility and pricing tool for its proprietary Non-QM Products
IRVINE, CA (July 17, 2019) — LoanScorecard ® , the leading provider of non-agency automated underwriting systems (AUS), today announced that NewFi Wholesale has implemented LoanScorecard’s product and pricing engine, Pricer1™, and non-agency AUS, Portfolio Underwriter™, as its Non-QM Pricing & Scenario Tool.
Founded in 2015, NewFi Wholesale is a wholesale mortgage lender headquartered in Emeryville, Calif., with deep expertise in government, jumbo, and non-qualified mortgage (non-QM) lending. The company is licensed to do business in California, Arizona, Colorado, Florida, Maryland, New Jersey, Oregon, Pennsylvania, Utah and Washington.
Powered by LoanScorecard’s Pricer1 and Portfolio Underwriter technology, NewFi Wholesale’s Non-QM Pricing & Scenario Tool allows approved and potential broker partners to run loan scenarios in Calyx ® Point ® or on the lender’s website. Brokers can then quickly determine eligibility and pricing across NewFi Wholesale’s proprietary non-QM products: Sequoia Portfolio Plus, Sequoia Portfolio Expanded, Sequoia Investor Pro and Sequoia CPA.
“By combining our broad range of loan products with innovative technology we are reshaping the way our broker partners shop for and close loans,” said Steve Abreu, CEO of NewFi Wholesale. “We chose to partner with LoanScorecard because they allow us to provide brokers, whether or not they are approved partners, greater value by accessing our proprietary guidelines directly in their LOS. In addition, we didn’t need to spend significant time and resources building our own AUS. LoanScorecard’s implementation process was so smooth that we were up and running in less than a month.”
“Forward-looking wholesale lenders, like NewFi, know that, in order to be successful in today’s market, it’s essential to build strong relationships with brokers,” said Ben Wu, Executive Director of LoanScorecard. “By leveraging LoanScorecard technology, NewFi is expanding its reach and empowering brokers with real-time pricing and an immediate indication of whether or not loans would be approved, so they can quickly and confidently close more loans.”
Calyx Point users can join the “Power your Pipeline with Newfi Wholesale” webinar on Thursday, July 18, 2019, at 1:00pm CDT to learn how to access NewFi Wholesale’s Non-QM Pricing & Scenario Tool within the LOS.
About LoanScoreCard
LoanScorecard® is a leading provider of non-agency automated underwriting, loan pricing solutions and borrower point-of-sale designed to meet today's regulatory challenges and capitalize on current market opportunities. LoanScorecard helps institutions address CFPB regulations through its QM Findings™, the industry's first qualified mortgage (QM) engine, which has rendered more than 5 million QM findings reports to-date and supports banks and credit unions preparing for the upcoming impacts of CECL. For more information, visit loanscorecard.com or call 800-617-0892.
