Multiple issues are currently straining the relationship between buyers and sellers. Too many manual procedures, in what is often a fragmented process, is costly for investors and causes sellers to perceive you as "not easy to do business with." Investors need to ensure the loans they are buying are high quality and compliant. Sellers want to experience rapid turnaround for funding and free-up warehouse lines. Both need to participate in finding and curing defects before loans are purchased.
Today, many investors are using a piecemeal approach through a combination of multiple systems and services, including a loan origination system, product and pricing engine, due diligence review services and a loan seller portal. Additional expense is incurred due to the customization and integration required, and much of the functionality of these systems is simply not used. In an environment that requires intense scrutiny of vendor partners, imagine the benefits of leveraging a robust and comprehensive technology solution through a single vendor.
The LoanHD® Investor Module for Correspondent Loan Acquisition automates every step in the acquisition process. This system handles:
Investors and correspondents can experience improved efficiencies, address loan defects before purchase, and fund loans quicker. The LoanHD® automated loan quality audit system is a significant improvement over a stare and compare manual process.
The unique capabilities provided through the LoanHD® Investor Module for Correspondent Loan Acquisition helps increase Investor confidence, as well as seller satisfaction and loyalty.
The investor has complete transparency into the progress and status of each loan as it goes through the process. And, technology with business rules driven automation can streamline the process and enable competitively differentiated turnaround times.
Sellers benefit from the pricing flexibility of Best Efforts, Mandatory and Commitments. And, technology efficiencies translate into rapid funding of the loans and stronger relationships.