ScoreEdge is an online, real-time decision tool that will provide insight into the risk of loan approvals. Edgeware Analytics developed the statistical model by analyzing small business administration and conventional loans and their subsequent performance. ScoreEdge will examine the same application time data available to the loan officer and returns a three digit score that helps predict the loan’s future performance.
Penn Ritter, president and CEO of Business Lenders, said: We are always seeking ways to support our goal of making sound credit decisions while delivering prompt closings for our customers and brokers. We’ve selected Edgeware’s ScoreEdge decision model to give us additional risk insight so we can continue our record growth.
