LoanLogics has launched the LoanHD AppQ Network, that provides lenders with service ordering and delivery interfaces to third-party providers through the LoanHD platform. LoanHD is a single-source solution designed to provide enterprise-level loan quality management and to monitor risk.
“The LoanLogics LoanHD AppQ Network was developed to ensure that lenders and service providers can more easily leverage an ecosystem of services through the LoanHD platform,” said Brian K. Fitzpatrick, president and CEO of LoanLogics. “We want to provide clients access to additional service applications that create efficiency, reduce error and enable them to enhance their loan quality management practices to drive to a zero defect rate.”
The LoanHD AppQ Network enables lenders and servicers to efficiently order services at any time. LoanLogics has made ordering services straightforward and integrated. At the same time, it provides clients with a broad choice of service providers.
“We serve clients from small to large with varying degrees of complexity and needs. After surveying our clients, we designed a network to offer a variety of services that directly address the needs of our clients,” said Terese Campbell, LoanLogics SVP of product management. “Our goal is to continue to expand the network as our clients’ needs evolve, while maintaining streamlined vendor management.”
The Consumer Financial Protection Bureau’s regulations and heightened scrutiny has caused most lenders to place a greater emphasis on quality control management practices and analytics designed to reduce defects and drive actionable intelligence.
As a result, quality control expectations are higher than ever. To drive down defects, lenders need to improve quality management practices and the analytics that drives actionable intelligence. An enterprise-level platform that also provides access to an ecosystem of providers is the next generation of loan quality management that can help lenders address this need.
Current members of the LoanHD AppQ Network include TransUnion, Andrew Davidson & Co., Veros, Platinum Data Solutions, ComplianceEase, DataQuick, IXI Services. Service providers working with LoanLogics to expand the network include Milliman, MasterServ, and others to be announced in the near future.
