Origination/Lending
Avista Platform Automates FHA Underwriting Approval
By
AUSTIN KILGORE
October 12, 2009 2:24 PM CST
Avista Solutions‘ automated underwriting system is now interfaced with the Federal Housing Administration’s (FHA) Technology Open to Approved Lenders (TOTAL) Scorecard platform, allowing lenders that use Avista’s software to speed up FHA approvals.
FHA-approved Avista users enter the borrower’s data into the underwriting software, and it is directly transferred to the TOTAL Scorecard, where it is automatically evaluated for a risk classification of “approve” if it’s accepted or “refer” for manual underwriting.
“The lending community understands the benefits of technology and process automation better now than ever before,” said Avista CEO Mark Phlieger.
He added: “FHA has a redefined mission these days and we are preparing for the technology innovations to come that will make dealing with HUD faster, easier and more efficient. Making the TOTAL Scorecard seamlessly available to our users is just the first step in that journey.”
Write to Austin Kilgore.
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