As a lender looking to compete further in the market, employing several technological tools and inventions in your day-to-day operations is a must. One of such technological tools is the Loan Origination Software (LOS), a platform for coordinating and automating various stages of the loan service cycle from a central location, including automating the underwriting process.
The sole purpose of the LOS used to be to take a collection of consumer and property data, disseminate it across several executable documents, and bundle it all into a closed loan that could be sold on the secondary market. It’s no longer just about constructing the mortgage asset. Everything’s all about getting it done quickly and for less money. A LOS isn’t a next-generation software solution only because it can assist the lender in managing these essential data but must embody groundbreaking features like the Mortgage Cadence Platform (MCP).
In the case of MCP, each interface is intuitive and simple to use regardless of the device on which it is displayed. The integrated point of sale (POS) helps borrowers conveniently engage with the lender from any device they own. Mortgage Cadence’s open design allows them to provide lenders with more options. It has opened the door to a thriving system of potential partners who can now compete for the lender’s business without the lender having to spend time or money helping them connect to the record database.
Thus, providing a more efficient way of doing things for lenders. It’s all about the workflow for lenders when it comes to efficiency. MCP was intended to provide intelligent, dynamic workflows.
To read more about the next generation LOS developed by Mortgage Cadence and its numerous benefits to lenders, click here.
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Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid.
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