Foundation Home Loans will employ LendingMetrics’ ADP automated platform for its underwriting technology.
The lender selected the platform due to LendingMetrics’ ability to deliver its automated solution swiftly and cost effectively.
Moreover, the firm pointed to the systems flexibility and quick-to-change capability that avoids the need for manual processing or workarounds.
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Furthermore, Foundation Home Loans intends to migrate its entire decision tree, including third-party integrations to LendingMetrics’ ADP automated platform.
David Wylie, commercial director of LendingMetrics, said: “Foundation Home Loans was keen to find technology that would automate its underwriting process and take lending to a new level of efficiency.
“It now has in place a future-proofed system that allows for ongoing decision changes and new third-party data suppliers.
“We are delighted to be working with Foundation Home Loans and it has been particularly interesting to implement such a complex affordability strategy.”
Robert Lawlor, head of credit risk at Foundation Home Loans, added: ‘We love ADP and have never had any doubts about the product. This is no longer about regulatory requirements – we see ADP as a way of being more competitive in the specialist mortgage market.”