SOURCE: Loan-Score Decisioning Systems

December 17, 2008 12:01 ET

WestOne Mortgage Corporation Selects Loan-Score as Its Automated Underwriting Solutions Provider

Proprietary Decisioning Platform Will Be Used to Establish a Higher Standard in Mortgage Originations

IRVINE, CA and TARZANA, CA--(Marketwire - December 17, 2008) - Loan-Score Decisioning Systems, an enterprise-class pricing and automated underwriting solutions provider, announced today that WestOne Mortgage Corp., a California-based loan originator, will implement Loan-Score's integrated decision management platform.

Patrick Weaver, CEO of WestOne Mortgage Corp., stated, "Our industry has gone through a tremendous amount of change in a very short period of time and in order to compete in the new mortgage marketplace, lending organizations must change the fundamental way they conduct business and interface with borrowers. From Main Street to Wall Street, drastic changes must be made to restore borrower confidence in our industry. Our partnership with Loan-Score Decisioning Systems is an integral part of our ongoing efforts to deliver unparalleled service to both lenders and borrowers."

Weaver added: "By leveraging a new generation of end-to-end technology components, we create transparency throughout the originations process, enable knowledge-based decisions and originate quality loans. WestOne intends to meet industry challenges head on and raise the bar in lending standards to restore America's trust in mortgage lending practices."

WestOne will provide robust decisioning tools through its customized portal that instantly returns a risk-based pricing decision. The result is a consistent, conditions-based decision predicated on sophisticated business rules, borrower credit profile and program specific guidelines.

On the back-end, WestOne's Operations Staff will leverage Loan-Score's decision management platform to improve cycle times, ensure accuracy and optimize the quality control review process.

WestOne says it will use Loan-Score's solution to attract and retain top performers by eliminating the mystery and complexity associated with the traditional mortgage process, thus introducing a new standard in mortgage origination. Loan-Score will also integrate with PCLender, WestOne's robust loan origination system, to facilitate effective communication between its partners working at the point-of-sale and with operations staff.

"Essentially, WestOne's objective is to help drive the next-generation of lending in the new mortgage marketplace," said Joe Bowerbank, senior vice president of marketing at Loan-Score. "We are very excited to be working with such a forward-thinking, innovative client and we look forward to a successful solution launch to WestOne's partner network."

About WestOne

Founded in 2007, WestOne Mortgage Corp. was launched with only one objective in mind: to provide the most comprehensive and competitive mortgage products under one roof, offered by the most reliable and consistent lending sources in the market. As a California based originator, WestOne Mortgage is a trusted source for comprehensive mortgage product solutions designed to meet the demands of today's mortgage market place. Its focus is on the continuous development of originations solutions that provide customers and partners with unparalleled product selection, customer service and efficiencies. For more information, visit www.westonemortgagecorp.com or call 818-921-7602.

About Loan-Score

Founded in 2000 and headquartered in Irvine, California, Loan-Score Decisioning Systems, offers a true, enterprise-class AUS and PPE available on a software-as-a-service (SaaS) and also a self-hosted basis for all lending channels and product types. The company extends various functionality to the point-of-sale using its customer-facing Web portals. Loan-Score maintains a comprehensive, up-to-date library of investor guidelines and pricing to ensure eligibility is met and market conditions are adjusted to deliver precision-based underwriting that result in fundable loans. The company's solutions are engineered to deliver swift, cost-effective implementations that integrate with existing LOSs and avoid inflexible programming efforts and high maintenance costs. For more information, visit www.loan-score.com or call 949-450-0102.