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Improving Speed of Loan Process Goal for Non-QM Lender

GSE loans


Angel Oak Mortgage Solutions, LLC [1], a wholesale and correspondent non-QM lender, announced the launch of QuickQual. This loan tool will enhance the ease and speed at which loan officers (LOs) can determine borrower eligibility for non-QM loans. 

QuickQual, powered by LoanScorecard, delivers loan eligibility decisions within a matter of minutes, eliminating a process that used to take up to 24 hours. The automated underwriting system (AUS) instantly produces a loan eligibility report, which is also sent to the appropriate Angel Oak Account Executive (AE). If the report indicates a successful pass, the LO can submit the loan with the click of a button. However, should the results flag any issues, the AE is able to view the full file, including the analytics behind it so they can identify potential challenges and address them.

“Customer service is in our DNA, integrating QuickQual shows our dedication to client satisfaction,” said Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions. “We realized right away that we couldn’t use an off-the-shelf solution. That’s why we spent the last 18 months working collaboratively with LoanScorecard to develop a custom solution that elegantly addresses the LO’s need for speed and confidence and, at the same time, aligns with our world class AE expertise. QuickQual is synchronized with our current processes, including the Salesforce integration to ensure a smooth transition.” 

Hutchens added, “In terms of productivity, QuickQual significantly reduces the time that would have gone into manual prequals. This enhancement frees up significant time each day—time that can now be spent working with clients and getting deals done.”

“We’re extremely pleased that an industry leader like Angel Oak is using our AUS technology to expand the non-QM market and to deliver a high-level of personalized service,” said Ben Wu, Executive Director at LoanScorecard.