A unit of Quicken Loans Inc. that originates through small financial institutions has turned to CalyxSoftware to power its loan origination system.
Quicken Loans Mortgage Services, based in Charlotte, North Carolina, generates business from community banks, credit unions and select brokers.
The Quicken Loans Inc. unit opened for business in 2010. It was founded by Tod Highfield who co-founded DecisionOne Mortgage.
On Tuesday, CalyxSoftware announced that it has partnered with Quicken Loans Mortgage Services to power its Q-L.O.S.
The new system reportedly enables compliant, quick and profitable lending.
Dallas-based CalyxSoftware noted that the third-party originators can receive direct support from underwriters, operations team members and account executives, as well as other specialists.
“Q-L.O.S. addresses the very specific needs of today’s financial institutions in an intuitive and flexible way, allowing them to close more loans, faster,” Quicken Loans Mortgage Services Vice President David Schroeder stated in the news release.
