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Business enterprises are constantly on the lookout for the perfect technology solution. The ideal loan origination system (LOS) is one that combines user functionality, business benefits and cost management into a single system.

Many lenders waste time and money implementing a highly configurable Loan Origination System (LOS) because they believe they need a unique loan production process. This post will help lenders understand how an LOS with best practices dramatically reduces technology costs and implementation time.

In any business, companies can only move as fast as the slowest part of the process. For mortgage lenders, the slowest part of the loan process – outside of regulatory mandated waiting periods – has often been the limitations of physical paper. Whether it is the printing, delivery and fulfillment of paper-based disclosures and closing packages or the transfer of data from a paper application to an underwriting system, manually completing any task dramatically slows down a lender’s efficiency.

When it comes to new digital lending, point-of-sale technology(POS) is a trendy topic. Every lender wants a shiny, intuitive POS for their borrowers so they can apply for a loan anywhere, at any time.