Recent enhancements to loan origination systems for real estate finance have focused primarily on integrations with other mortgage technology service providers.
The 2016 LOS Technology Insight Survey found that 28 percent of home lenders were very satisfied with their LOS. The share rose from 27 percent in 2015.
Another 42 percent indicated they were somewhat satisfied, while
an additional 30 percent were not satisfied with their LOS — up from 29 percent the prior year.
The report was announced
last week by STRATMOR Group.
Among the unsatisfied group, 19 percent are actively looking for a replacement, and 11 percent are in the process of implementing a new LOS.
A LinkedIn post last month from loanDepot
LLC Chairman and Chief Executive Officer Anthony Hsieh showed the LOS utilized by nine of the Foothill Ranch, California, company’s competitors. Five were Ellie Mae Inc. Encompass users, one used CoreLogic Inc., one was a user of Black Knight Financial Services’ LoanSphere Empower and another utilized PCLender. The other company listed had a proprietary system.
On Nov. 17, Ellie — a Mortgage Daily advertiser — announced that new technology work flows will enable joint customers of the Pleasanton, California-based service provider and Wells Fargo Funding to deliver loan data in a streamlined, efficient and secure manner.
“We understand the need for lenders’ ability to seamlessly sell loans to our valued partners, like Wells Fargo,” Ellie Mae Executive Vice President Joe Tyrrell said in the statement. “Today’s launch is just the beginning of the streamlined delivery workflow we are developing with Wells Fargo to give to our joint customers.”
A Dec. 5 news release indicated that LoanBeam’s
automated income calculation software is being integrated into Empower.
An integration of Mortgage Peer Network’s peer-based analytics with LendingQB’s cloud-based LOS
announced on Dec. 21 promises to provide insight into lenders’ cost and efficiency.
Earlier in the month, Costa Mesa, California-based LendingQB said its LOS was integrated into the BeSmartee. The move reportedly
provides lenders with an automated system to build a consumer-direct lending channel that enables borrowers to move from the loan application to underwriting in approximately 20 minutes.
Late last month, an announcement indicated that
Indecomm Global Services’ IncomeGenius tax return analysis platform has been integrated into LendingQB’s LOS.
