America First Loan Underwriting Tool Aims for Quicker Decisions
Making credit underwriting decisions on direct and indirect auto loans for may become more streamlined at America First Credit Union.
The $5.5 billion cooperative in Riverdale, Utah, has teamed up with Experian to implement a new credit decision making and underwriting tool.
As part of the initial hosted implementation, Experian’s Decisioning as a Serviceaims to integrate with America First’s existing loan origination system, LoansPQ from MeridianLink Inc., which captures and sends application data to new tool once a member applies for an auto loan, according to Experian.
Decisioning as a Service then will apply America First’s credit underwriting decision criteria using Experian’s Strategy Management decision engine, which leverages Champion/Challenger testing, according to Experian. The credit underwriting decision criteria also will use several other Experian products to help meet regulatory compliance.
Experian said nearly 100 financial institutions, including 15 credit unions, currently use the Decisioning as a Service tool.
America First serves more than 594,000 members.