LoanLogics Unveils LoanHD® Investor Module for Correspondent Loan Acquisition
Trevose, PA | July 6, 2015
LoanLogics, a recognized technology leader in loan quality management and performance analytics, has announced the release of LoanHD® Investor Module for Correspondent Loan Acquisition, a software-as-a-service and portal technology developed to automate an investor's purchase of loans from correspondent sellers and address all aspects of loan acquisition, from correspondent application workflow and approval process, to pricing and management of the transaction, through loan funding and servicing on-boarding.
The Module makes it possible for investors and correspondents to access all the services they require in one, integrated platform. For instance, LoanLogics' robust capabilities for automated document and data processing, as well as audit rules automation, are fully integrated with this new Investor Module. This delivers benefits related to improving the number of loans per person per day that can be completed in the pre-funding review process. In addition, missing documents or data are identified automatically up-front, well before the audit review begins.
"The LoanLogics LoanHD® Investor Module for Correspondent Loan Acquisition breaks new ground in the mortgage industry. We deliver a complete, automated solution that eliminates the need for lenders to license multiple systems requiring additional customization and expensive integrations that then need to be maintained," said Brian K. Fitzpatrick, CEO and President of LoanLogics. "Nor do investors and correspondents have to address CFPB vendor management requirements across multiple providers - such as loan-origination systems, pricing and product eligibility engines, due diligence providers, web portal technology and reporting and analytics - because the Module delivers all these capabilities on a single, integrated platform."
Once correspondent sellers are approved, they have full access to submit or price loans. They can see the status of loans across Best Efforts, Mandatory and Trade Commitments-access rebuttals, clear conditions and track loans approved for purchase with stipulations or purchased outright.
The portal automates every step in the loan-acquisition process, from initial pricing and the creation and management of commitments, through locking & hedging, classification and data extraction of submitted loan documents, closed loan file eligibility and pre-purchase review and ultimately loan funding and onboarding. Investors and correspondents will realize improved efficiencies, address loan defects before purchase, and fund loans more quickly, a significant improvement over a stare and compare manual process.
About LoanLogicsLoanLogics was founded ten years ago to improve the transparency and accuracy of the mortgage process, improve the quality of loans and reduce risk to industry participants. LoanLogics serves the needs of residential mortgage lenders, servicers, insurers, and investors that want to improve loan quality, performance and reliability throughout the loan lifecycle. It develops advanced solutions that help clients validate compliance, improve profitability, and manage risk during the manufacture, sale and servicing of loan assets. Achieving these goals was the motivation in the development of our Enterprise Loan Quality and Performance Analytics Platform. To learn more, visit www.loanlogics.com
On Point PR and Consulting LLC
16 MT. Bethel Rd., Suite 171 Warren, NJ 07059