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LoanLogics Announces Upgrades to Its LoanDecisions Platform

NationalMortgageProfessional.com
Aug 07, 2013

LoanLogics has enhanced LoanDecisions, the company’s pricing and eligibility platform. Specifically, the enhancements are to LoanDecisions’ Pipeline Management Tool, which now includes the ability to create custom statuses for locked loans and the inclusion of additional reporting fields for enhanced compliance tracking. Also, the LoanDecisions pricing form now supports expanded pricing characteristics related to the HomeStyle Renovation Mortgage. LoanDecisions is the mortgage loan pricing and eligibility solution that is preferred by mortgage lenders who need more comprehensive investor data and an intuitive user interface that supports rapid user adoption. Users of the Pipeline Management Tool can now add up to 10 custom lock statuses to track loans from lock through close, funding and sale. In addition, the lock desk reporting feature has been expanded to include 18 additional fields, including status and margin detail that can be used for compliance tracking at the branch and account levels. “Updating the locked status of loans at a more granular level provides lock desk staff with a more complete picture of the mortgage pipeline and an audit trail for better tracking through the lock process,” said Matt Thoman, LoanLogics’ product manager for Origination Technologies. “Lenders can also use the enhanced Reporting Feature to compare the rate, price, adjustments and location of mortgage loans. This can assist them when preparing for a Consumer Financial Protection Bureau fair lending audit where they may need to show auditors that they are offering comparable pricing for borrowers.” In addition, LoanLogics has enhanced the pricing form within LoanDecisions to capture additional loan scenario detail. A checkbox has been added for the HomeStyle Renovation Mortgage that allows a user to view only HomeStyle pricing and eligibility results. Administrators can also use this new loan scenario characteristic to create custom adjusters, margins and guideline rejects through LoanDecisions Advanced Margins settings. “This latest release of LoanDecisions is just one of the many enhancements to the platform that are currently underway,” said Ira Artman, SVP Product Management for LoanLogics. “We have made substantial investments in our platform to stay ahead of the competition and help our lenders to achieve their goals from both a profit and risk perspective."
Published
Aug 07, 2013
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