Pages

Help Your Clients with Loan Origination Software



Loan origination software can make your job much easier by helping you hone in on the best prospects while complying with numerous regulations. It can also be used to help your clients find the best mortgage products for their specific needs – a win-win solution for lenders that want to follow a consultative approach.

First, loan origination software can be used to quickly determine a borrower’s eligibility. Instead of wasting everyone’s time, the software allows you to find out if your products are a good match for the borrower and if the borrower qualifies. Loan origination software examines a variety of guidelines specific to a loan type such as loan purpose, occupancy, credit history, reserves, and so on to quickly determine eligibility. Once eligibility (or ineligibility) is determined, you can move on accordingly.

Loan origination software also typically contains pricing tools so that you can quickly quote a product using general information. For example, some loan pricing software allows you to specify the basics such as purchase price, down payment, basic property information, borrower type, and credit score without requiring specific details and time-consuming data entry.

Not only can you quickly determine eligibility and quote prices to potential clients, loan pricing software also makes it easy to plug in various options such as rate targets or borrower paid points to see how these options affect the monthly payments.

In addition, loan pricing software typically conforms to the most current regulations. For example, some programs include reporting tools that comply with Dodd-Frank’s anti-steering provisions by documenting the various loan products discussed and how the borrower reached the decision. (Source: Mortgage Software By NYLX)

Using loan origination software is essential in today’s highly regulated mortgage lending environment. While compliance is mandatory, loan origination and pricing software can also help you to provide the best service possible to your clients.

5 comments:

  1. Your post have very good information about Origination Services and Banking Outsourcing. Thanks for posting and keep further posting....!!

    ReplyDelete
  2. Fantastic Blog! I agree completely with you here. It is a very valuable and helpful collection of blogs. We provide the entire range of property management services .For more information Please visit

    ReplyDelete
  3. If you had financial problems, then it is time for you to smile. You only need to contact Mr. Benjamin  with the amount you wish to borrow and the payment period that suits you and you will have your loan in less than 48 hours. I just benefited for the sixth time a loan of 700 thousand dollars for a period of 180 months with the possibility of paying before the expiration date. Make contact with him and you will see that he is a very honest man with a good heart.His email is lfdsloans@lemeridianfds.com and his WhatApp phone number is + 1-989-394-3740 

    ReplyDelete
  4. I cannot thank Mr Pedro loan service enough and letting people know how grateful I am for all the assistance that you and your team staff have provided and I look forward to recommending friends and family should they need financial advice or assistance @ 2% Rate for Business Loan .Via Contact : . pedroloanss@gmail.com .

    ReplyDelete