The Match Precision Score

In a previous post I explained one of the tools we give users to determine which lenders they should submit their loan requests to: The Lender Effectiveness Score, or LES.

If you create a commercial loan request at Lendicom.com, however, you'll see another score listed next to the programs that match your request: The MPS, which stands for the Match Precision Score. 

Whereas the LES is a measure of a lender's effectiveness as a Lendicom user, and is determined by factors such as average response time and overall performance, the Match Precision Score is purely a measure of how closely a particular loan program in our system matches your request.

The criteria with which a particular loan program is matched against a loan request fall into two groups:  Critical and Non-Critical.  Critical items are non-variable aspects of the loan request such as the property type, use of funds, property location, and minimum credit score, if any.  Non-Critical items are mainly loan specification preferences of the borrower, such as desired amortization schedule, loan term, and documentation.

If a program does not match a loan request on a critical item, the program is excluded as a match.  If a program matches on all critical items, it is given a default MPS of 10.  Then, for each non-critical item that DOES NOT match, one point is deducted from this score. 

Programs with a "perfect" score of 10 - those that match in all aspects of the loan request - are grouped together and displayed on the matching results page as "exact" matches.  Programs with scores lower than 10 are grouped together and displayed as "close" matches.