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Loan Origination System by Loan Servicing Soft


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LOAN SERVICING SOFT offers complete loan origination software that is easy to use with its loan entry screen, web applications and automated credit pull and doc preparation system.

Published in: Economy & Finance
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Loan Origination System by Loan Servicing Soft

  1. 1. Loan Origination System Loan origination is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application up to disbursal of funds (or declining the application). LOAN SERVICING SOFT is a complete loan origination system or LOS. Configurable easy to use point and click loan entry screens, loan application, automated credit pull, loan decisioning, loan disclosures, and loan doc prep. Do it all in house yourself, or with higher volumes, workflow and task management allows your team unlimited possibilities. The LOAN SERVICING SOFT loan servicing software platform is also extremely flexible, scalable and easy to use, making it an ideal lending solution for several industries.
  2. 2. Loan Origination System Application Process Applications for loans may be made through several different channels and the length of the application process, from initial application to funding, means that different organizations may use various channels for customer interactions over time. In general, loan applications may be split into three distinct types: •Agent (branch-based) •Agent assisted (telephone-based) •Broker sale (third-party sales agent) •Self-service Retail loans and mortgages are typically highly competitive products that may not offer a large margin to their providers, but through high volume sales can be highly profitable. The business model of the individual financial institution and the products they offer therefore affect the decision of which application model they will offer.
  3. 3. Loan Origination System Choose the Loan Center System That Fits Your Needs Loan Center for Retail Lending Designed to meet the needs of frontline, back-office, and executive staff, Loan Center integrates practical tools that improve efficiency at every level. •Smart simplicity users appreciate •Top-down transparency managers require Loan Center for Third Party Lending Third-party lenders can enjoy greater productivity with full pipeline visibility in an LOS designed for their specific needs. •Helps attract and retain correspondent lenders/ wholesale brokers •Eliminates manual processes
  4. 4. Loan Origination System Self-service Loan Application •Self-service web applications are taken in a variety of ways, and the state of this business has evolved over time •Print and fax applications or pre-qualification forms. Some financial institutions still use these. •Print, write or type data into the form, send it to the financial institution •Form fill on the web, print, and send to the financial institution •Web forms filled out and saved by the applicant on the web site, that are then sent to or retrieved by (ostensibly securely) the financial institution •True web applications with interfaces to a loan origination system on the back end •Many of the early solutions had a lot of the same problems as general forms
  5. 5. Loan Origination System Important Links: