New AI Tool Evaluates Borrower Eligibility Against All Major Agency Guidelines
nCino announced Loan PreCheck, a new AI underwriting tool within the nCino Mortgage Point of Sale solution that automatically evaluates borrower eligibility against Fannie Mae, Freddie Mac, FHA, VA and USDA when a loan application is submitted and a credit report is pulled.
Loan PreCheck cross-references the borrower’s profile against all five guideline sets and returns a confidence-scored assessment for each agency, flagging specific issues such as a low credit score or high debt-to-income ratio, with citations back to the specific guideline section. It also recommends the best-fit loan program for each GSE the borrower is eligible under.
Loan PreCheck kicks off a workflow that, when paired with an automated underwriting system and nCino AUS Smart Tasks, takes a file from program selection all the way through to a plain-language summary of underwriting findings and a list of suggested tasks. With AUS Smart Tasks, loan officers can work through those tasks one by one or use a template to automate handling of common conditions, which helps move files faster and keeps the pipeline cleaner.
“Loan officers make better decisions when they have better information at the right moment,” said Casey Williams, general manager of global mortgage at nCino. “Loan PreCheck surfaces the best program for each borrower before the process ever gets to AUS and gives loan officers the guideline backing to stand behind it.”
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