lqb informational kit

Seamless Solutions for Mortgage LendersA revealing approach to technology, work�ow and business strategies that impact your bottom line.

FACT SHEET

More than just a Loan Origination SystemA web-based approached to mortgage loan management

What does LendingQB do?

Key Features

Why is LendingQB important?

LendingQB is a software system that consolidates all aspects of mortgage lending into a single, fully integrated platform. From loan origination to funding, LendingQB is a true end-to-end system that leverages the power and cost-e�ciency of web-based computing for a smoother, more e�cient mortgage lending work�ow.

100% web browser-based, SAS70 II certi�ed, PCI compliant solutionIntegrated with Fannie Mae’s DO/DU and Freddie Mac’s LP automated underwriting systemsPaperless electronic document management systemFully integrated investor automated underwriting and loan pricing engineFlexible business rule automationPrivately-branded originator portal for loan eligibility, pricing, loan �le and document submissionOnline loan application and rate engine tools for consumer-facing websites

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Anytime, anywhere loan o�cer or branch access via web-browserFull complement of standard loan application forms: 1003 URLA, GFE, TIL, etc.Full complement of standard FHA & VA formsAccurate point-of-sale loan eligibilty and pricing using investor automated underwriting and loan pricing engineConnected with every credit reporting vendor in the industryMobile app for Apple® iPhone and Android™-based smartphones

Mortgage lenders demand technology that is easy to use, easy to deploy and eliminates the risk and frustration of data confusion caused by multiple software environments. By addressing each component of the mortgage lending process and building a robust set of features, LendingQB provides mortgage lenders with a comprehensive platform for managing their entire lending process.

What makes LendingQB di�erent?

Loan Origination Features

Automated Underwriting and Loan Pricing Features

Secondary Marketing Features

Accurately determine loan eligibility based on investor guidelines and overlaysComplete utilization of borrower credit report dataComprehensive library of pre-built investor loan productsInvestor guideline updates and management provided by LendingQBCustomizable overlays for lender-speci�c eligibility criteriaAutomated rate sheet process updates pricing continuouslyCreate separate price groups to manage di�erent sales channels and pricing tiersOriginator compensation automatically calculated into pricing

Submit lock requests via LendingQB automated underwriting and loan pricing engineBuy-side and sell-side rate lockingEasily generate rate lock con�rmation email noti�cationsRate lock tracking and audit historyRisk management reportingPurchase advice reconciliation

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There are a number of problems and shortcomings with today’s LOS platforms. Lenders are relegated to using two, three or even four di�erent pieces of software to adequately manage their loan process. This creates numerous issues including poor integrations, lack of data consistency, feature/functionality de�ciencies, weak reporting, scalabil-ity limitations and a general failure to deliver on the end-to-end promise.

These issues hold lenders back from intelligently navigating through an ever-changing business landscape to reach the path of greater pro�tability and organizational optimization. Your LOS shouldn’t just originate, process and fund loans; it should make it easier to run your business at a lower cost. It should be treated as an invaluable pro�t and business strategy center, not just an expensive piece of technology.

At LendingQB, we’ve spent years engineering a next-generation LOS that takes a strategic, holistic view of a lender’s unique business model – one that leverages technology in ways you didn’t think was possible. Whether you’re a retail lender wanting to expand your online lending footprint, a wholesale lender trying to attract broker business or a national lender looking to boost your data analytic capabilities, LendingQB gives you the power to grow now and well into the future.

Consolidate all your lending activi-ties onto a single platform for a true end-to-end experience. LendingQB is designed to keep your users in a single software environment, regard-less of their role or responsibility. Whether it’s an originator taking a loan application or producing disclosures, processors managing electronic documents, underwriters clearing conditions or secondary marketing locking rates and manag-ing pricing, LendingQB utilizes a single database of record to ensure that everyone is working o� the same data.

Gain total control over your work-�ow. Mortgage lending is a compli-cated process with many moving parts. Maintaining a smooth, e�cient and compliant work�ow is a constant challenge that saps a lender’s time and resources. LendingQB’s business rule automation is designed to allow lenders to create work�ow-speci�c checks and balances that prevent bottlenecks and mitigate risks.

Get rid of software and move everything to the cloud. LendingQB is a true web browser-based LOS that doesn’t use desktop virtualization, thin-client software or other types of smoke and mirrors to achieve a software-free computing environ-ment. An Internet connection and a web-browser are all that’s needed for anywhere, anytime access to the industry’s most advanced loan management platform.

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FACT SHEET

Who is LendingQB? Key Features


The PriceMyLoan - LendingQB connec-tion. LendingQB actually started its life back in 2004 as an automated underwriting and loan pricing engine known as PriceMyLoan. For �ve years, we provided scores of lenders with the most advanced technology for determining investor loan product eligibility and pricing. But our experience working with lenders and seeing the frustration they had implementing PriceMyLoan with their LOS gave us the idea to build our own comprehensive lending platform with PriceMyLoan already built in.The result is LendingQB.

Binh Dang, PresidentBinh is a technologist with a desire to create an enlightened software company – one that delivers true value to their customers and provides a great working environment for his employees. "I started LendingQB because I wanted to help lenders understand that technology doesn’t enable value, it actually can be used to create it.”

Prior to LendingQB, Binh oversaw the creation of PriceMyLoan and was director of Information Technology for TrueLink, a technology company that built the �rst web-based credit reporting system. Binh received a BS in Computer Science from the University of California, Irvine.

Gigi Campbell, Vice President of Business DevelopmentGigi is a consummate evangelist for LendingQB with a genuine desire to help lenders before, during and well after they become clients. “If our clients are happy, I’m happy. Our approach is more than to just provide software; we stand by our clients as a long term partner with a shared goal for success.”

Previous to LendingQB, she directed sales and business development for PriceMyLoan. Gigi has worked in enterprise software sales and business development for more than 20 years.


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Electronic Document Features

Upload or fax documents directly onto loan �lesEdit any electronic document: rearrange, insert, delete or split documentsBarcode scanning technology automatically indexes and routes documents to borrower �lesHighlight documents and place annotations on documents electronically

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FACT SHEET

Enterprise Process AssessmentHow a ‘cost per loan’ assessment can change the way you look at technology

ENTERPRISE PROCESS ASSESSMENT (EPA)What is it?

Key Features

Why is it important?

The Enterprise Process Assessment (EPA) is a complimentary analysis of a lender’s work�ow process from a cost perspective that is conducted by LendingQB. A series of questions are presented to a lender and a visualization mapping of the process is constructed based on responses. LendingQB compiles the EPA information into a report that is provided to the lender for the purpose of evaluating their own business and understanding the potential impact of technology.

STEP 1: PROCESS VISUALIZATIONWe sit down with you and construct “swim lanes” that visualize your lending work�ow process, detailing each step that every employee takes as the loan �ows from origination to funding.

STEP 2: ASSIGNING TIME VALUESOnce your process has been mapped, we ask you about the amount of time and resources each work�ow step consumes.

STEP 3: DETERMINE PROCESS VALUEBased on your sta�’s rate of pay and the assigned time values, we calculate a cost value for each work�ow process step. We can then aggregate time values and derive an overall cost per loan that’s based on your speci�c work�ow.

STEP 4: PROCESS IMPROVEMENT SIMULATIONUsing the derived cost per loan, we ask you about di�erent strategies you would like to apply to your process and determine the relative value of those strategies – providing you with real context for your technology evaluation.

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The EPA is important because it creates a framework for lenders to understand their own business within a context that is both tangible and measurable. Lenders can use an EPA to evaluate the quality of their current work�ow performance, identify areas of need and determine the impact of proposed changes to their technology or work�ow.

4 Steps to Understanding How Your Business Works






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LendingQB provides every lender with an Enterprise Process Assessment (EPA). The EPA is an analysis of a lender's mortgage work�ow process. It deconstructs each step of the loan cycle, from the moment an originator comes into contact with a borrower, to the point that a closed loan is sold to an investor. The reason we do this is because we want to understand a lender's goal in the context of their entire operations. And in our mind, there's no better goal than to focus on keeping your cost per loan to a minimum.

Why cost per loan? Because it's the most basic expression of a mortgage lender's operational performance. If your cost per loan is low, then you can be pretty darn sure that you're running an e�cient operation. That means your people are good, your management is good and you make good use of your technology. But if cost per loan is high, then you need to think of ways to get it lower.

The EPA is a discovery process that provides us with detailed insight on how your operation runs based on a measurement of it's cost per loan. Every step in your process is mapped out and assigned values. Once that's been established, then it becomes much easier for us (and you) to calculate the underlying value of a solution, be it an e-document system, an automated underwriting engine or any other technology improvement or process improvement you have in mind.

Most importantly, the EPA is about YOU, the lender. It's not about us, or our technology or our services; we have plenty of time to talk about that later. We provide lenders an Enterprise Process Assessment without any commitment or fees. We simply want to learn as much as we can about you before we explain how LendingQB can help. And if you learn something new about yourself along the way, then even better.

Consolidate all your lending activi-ties onto a single platform for a true end-to-end experience. LendingQB is designed to keep your users in a single software environment, regard-less of their role or responsibility. Whether it’s an originator taking a loan application or producing disclosures, processors managing electronic documents, underwriters clearing conditions or secondary marketing locking rates and manag-ing pricing, LendingQB utilizes a single database of record to ensure that everyone is working o� the same data.

Gain total control over your work-�ow. Mortgage lending is a compli-cated process with many moving parts. Maintaining a smooth, e�cient and compliant work�ow is a constant challenge that saps a lender’s time and resources. LendingQB’s business rule automation is designed to allow lenders to create work�ow-speci�c checks and balances that prevent bottlenecks and mitigate risks.

Get rid of software and move everything to the cloud. LendingQB is a true web browser-based LOS that doesn’t use desktop virtualization, thin-client software or other types of smoke and mirrors to achieve a software-free computing environ-ment. An Internet connection and a web-browser are all that’s needed for anywhere, anytime access to the industry’s most advanced loan management platform.

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FACT SHEET

Automated Underwriting and Loan PricingAn intelligent way to drive your growth and pro�tability

What does LendingQB automated underwriting and loan pricing do?

Key Features

Why is LendingQB automated underwriting and loan pricing important?

The LendingQB automated underwriting and loan pricing engine analyzes borrower, loan and property information and combines it with credit report data to determine loan eligibility and price. In order to attain a high level of accuracy, LendingQB builds every loan product from the ground up, incorporating eligibility guidelines, overlay rules, loan level price adjustments and a continuous feed of rate sheet data to generate real-time results.


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Every lender employs a process that “scrubs” loans for suitability and the likelihood of funding. The LendingQB automated underwriting and loan pricing engine automates this “scrubbing” process and pushes it closer to the point of sale. As a result, originators are empowered to make better decisions and submit loans with a higher probability of approval and funding. Lenders report increases in pull-through between 25 and 50 percent and an average productivity gain of 20 percent with underwriting and secondary marketing sta�.

What makes LendingQB automated underwriting and loan pricing di�erent?






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When do you know a loan is really a loan? This is a critical question that every lender struggles with. The traditional method of relying on a Fannie Mae or Freddie Mac automated underwriting decision only answers basic questions of loan eligibility. It won’t tell you whether it satis�es a detailed set of loan product overlays, and it has nothing to do with the rate or price you can lock at.

As a result, lenders don’t know whether they can fund a loan until they’ve invested a considerable amount of time and resources checking rate sheets, researching investor overlays and calculating loan level adjustments. These actions add up to an ine�cient process that lowers pull-through ratios and increases opportunity costs.

LendingQB’s Automated Underwriting and Loan Pricing engine compresses investor-level underwriting and real-time pricing into a single, virtually instantaneous step that is performed where it matters most, directly at the point of sale. Originators simply feed 1003 loan application data and a live credit report into the engine and obtain amazingly accurate decisions that can be submitted, approved and locked within minutes instead of hours or days.

And the fact that automated under-writing and loan pricing is seamlessly embedded in our overall platform means that there is no risk of data loss or interruption to your work�ow. LendingQB is a true end-to-end system, after all.

Real credit report data makes a real di�erence. It’s remarkably easy to distinguish an automated underwrit-ing engine from what is typically known as a product and pricing engine (PPE). Credit reports. Only an engine that can pull, parse and utilize 100 percent of a borrower’s credit report is capable of making a compre-hensive automated underwriting decision. This is because loan product guidelines and overlays require this data. Any engine that either cannot or does not utilize 100 percent of a credit report can only make best-guess estimations of eligibility because of the limited range of data they have to work with.

Focus your operational e�orts on high quality loans. Think about how much of your pro�t is wasted because processors, underwriters and second-ary marketing sta� put their e�orts into loans that end up going nowhere. What if you could stop those loans from entering your pipeline in the �rst place? That’s exactly what LendingQB’s automated underwriting and loan pricing engine does. It places a highly selective �lter on your loan origination process and only allows loans that have a high probability of closing to enter your pipeline, bolstering productivity and pull-through rates simultaneously.

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FACT SHEET

How does LendingQB build a loan product?

AUTOMATED UNDERWRITING AND LOAN PRICING SYSTEM

Key Features


Previously known as PriceMyLoan, LendingQB started building and maintain-ing loan products for our automated underwriting and loan pricing engine in 2004. We've amassed an extensive investor library of over 400 pre-built products from more than 40 di�erent investors, not including the dozens of custom products we built for our clients. Our meticulous build process is what makes our automated underwriting and loan pricing engine the most advanced of its kind.

STEP 1: Derive guidelines and overlay rules.Lenders and investors provide us with their product guidelines and overlays and we translate them into our proprietary syntax. This syntax provides us with the �exibility we need to faithfully reproduce even the most obscure eligibility rule.

STEP 2: Derive pricing matrices.We apply detailed loan level price adjustments by studying pricing matrices provided by lenders and creating rules. Any special adjusters can be applied or removed at the request of a lender on the �y.

STEP 3: Map rate sheets.Rate sheets are tricky business because of the amount and the time sensitivity of pricing data. We've re�ned our system to e�ciently process reams of data from dozens of sources in the span of a few minutes. Our rate sheet mapping identi�es pricing data in a way that prevents slight changes to the format from breaking the overall process.

STEP 4: Test. Then test again.We employ a rigorous dual testing process to all of our product builds in order to ensure a high degree of �delity. Every product is built twice by di�erent engineers and referenced against each other in order to root out the slightest discrepancies.

Loan eligibility and pricing go hand in hand, so LendingQB combined them into a single engine that is seamlessly integrated with the LendingQB end-to-end LOS. It does more than just provide originators with loan eligibility and a price; the LendingQB automated underwriting system generates conditions, manages rate locks and facilitates electronic document submissions. That’s the power of a true end-to-end system.









Electronic Document Features

Upload or fax documents directly onto loan �lesEdit any electronic document: rearrange, insert, delete or split documentsBarcode scanning technology automatically indexes and routes documents to borrower �lesHighlight documents and place annotations on documents electronically

Automated Underwriting

Fannie Mae

Freddie Mac

FHA TOTAL

Guidelines

Overlays

Matrices

Loan Pricing

Margin

CustomAdjustments

OriginatorCompensation

Rate Sheet

Lender SRP

Matrices

Loan Eligibility Conditions

Register Loan

Approve Loan

eDocs

Fully Adjusted Pricing

Rate Lock Request

Lock Rate

Credit Report Data100+ Credit Vendors

Loan Application DataBorrower Property Loan

GOAL: Increase pull-through rates and operational productivity by accurately �ltering

out loans that do not meet detailed loan product guidelines.

DATA INPUTThe originator brings in data directly from a loan �le residing in LendingQB.

DATA PROCESSINGThe automated underwriting and loan pricing engine automatically processes and matches data to comprehensive loan products built by LendingQB.

ENGINE RESULTSOriginator obtains accurate eligibility and pricing results within seconds.

SUBMIT Originator selects product and price, uploads loan package via Edocs. Operations sta� noti�ed via email.

RESPONDConditional approval certi�cate and rate lock con�rmation emailed to originator.

GOAL: Increase loan volumes by providing a complete loan transaction system that

enables originators to move swiftly from origination to closing.

FACT SHEET

TOTAL Scorecard InterfaceA smarter and more cost e�ective way to get decisions on all your FHA loans

How does LendingQB’s TOTAL Scorecard work?

Key Features

An FHA loan decision is actually comprised of two components: a credit decision and an eligibility decision. The TOTAL Scorecard engine provided by HUD is responsible for the credit decision, and the eligibility decision is rendered using an automated underwriting system such as Fannie Mae’s Desktop Underwriter or LendingQB’s automated underwriting engine (also known as PriceMyLoan).

Here’s how it all works:


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Every lender knows that FHA loans require an underwriting decision from TOTAL Scorecard, the eligibility engine provided by the Department of Housing and Urban Development (HUD). Most lenders, however, don’t realize that Fannie Mae’s Desktop Underwriter (DU) is not the only way to get TOTAL decisions.

In 2009, LendingQB obtained approval to interface with TOTAL Scorecard. This was no small matter. LendingQB went through a rigorous due diligence and testing process with HUD that carefully analyzed our automated underwriting capabilities, which is the main component that was required. The approval of our interface meant that lenders now had an alternative means of obtaining approvals for their FHA loans.

Using LendingQB’s TOTAL interface, lenders can determine whether a loan is FHA-eligible and use the decision to deliver loans to Ginnie Mae and private investors. The LendingQB interface is identical to Fannie Mae’s in that it utilizes loan data and credit report data to render a credit decision via TOTAL, and then a loan eligibility decision is generated using FHA guidelines stored within our propri-etary automated underwriting engine.

But if LendingQB’s TOTAL interface is identical to Fannie Mae’s, why should lender use it? Here are a few reasons that will convince why you should switch to LendingQB:

Access TOTAL Scorecard entirely within your own platform. If you have your own LOS platform, we’ve developed a dedicated API that makes it easy for you to use our TOTAL interface. The API enables lenders to send loan and credit data straight to our interface and receive a decision, along with a printable certi�cate that can be integrated within your website, LOS or any other system that can utilize webservices to send and receive XML data.

Access TOTAL Scorecard entirely within the LendingQB Platform. You don’t have to switch applications, navigate to a new browser window or jump through any mindless hoops to send a loan through TOTAL. Just take a loan �le originated in the LendingQB platform and submit directly to TOTAL. You’ll get a response, a certi�cate and all conditions automatically popu-lated back onto your loan �le.

Reduce TOTAL Scorecard fees by 80%. This not a typo. Lenders pay $25, $30 or even $35 to run TOTAL through Fannie Mae’s Desktop Underwriter. LendingQB’s cost? $5. Imagine how much money you could save on every TOTAL decision that you currently run through DU. For many lenders, this cost savings could run into hundreds of thousands of dollars annually. Moreover, the low cost for our TOTAL decisions could create entirely new opportunities for lenders to expand their FHA lending.

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CREDIT DATA

CREDIT DECISION

ELIGIBILITY DECISION

TOTAL

LOAN DATA

LENDINGQB

FHA CERTIFICATE

CONDITIONS

CONTACT LENDINGQB Key Features


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3080 Bristol Street, Suite 550Costa Mesa, California 92626(888) 285-3912www.lendingqb.com






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BINH DANGPresident(714) 957-6335 [email protected]

GIGI CAMPBELLVice President of Business Development (714) 957-6335 [email protected]

JOHN CAMPBELLDirector of Business Development (714) 957-6335 [email protected]

HOLT CROWDERDirector of Business Development (714) 957-6335 [email protected]

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