Liquid Logics announced that it would make its LOS available for use at no cost to mortgage loan originators who sell their business to any member of a consortium of wholesale lenders backing the technology. Originators are free to write loans for any lender with the LOS but pay a technology fee per loan for any volume not flowing to the consortium.
“Lenders are looking for loan sources that can consistently provide high quality loans at the same time brokers, credit unions and community banks are seeking technology to help them originate loans for others in full compliance with the new rules. Our technology meets both needs,” said Peter Kallodaychsak, VP of business development for Liquid Logics. “It’s a win-win because firms that originate loans for the consortium avoid paying for the most current LOS technology. At the same time, our lenders don’t have to worry about whether the loans they’re buying are fully compliant.”
The Liquid Logics LOS comes with the Bullseye automated underwriting system built in. It benefits from a tight integration with a number of Product & Pricing Engines, including Mortech’s Marksman PPE. The LOS offers a fully integrated consumer-facing portal that gives the consumer more control in the origination process without compromising tight compliance control. The software was designed to be a full-cycle solution, uniquely suited to meet today’s compliance demands.