Plaza Home Mortgage Upgrades Its LOS
August 8, 2018
Plaza Home Mortgage has announced new functionality to its BREEZE loan origination system (LOS) that will give wholesale Mortgage Brokers the option of creating, previewing and delivering loan estimate (LE) disclosures at the point of sale.
This new capability lets users quickly search for and select a closing agent and title company in their specific markets. Provider information and settlement costs, as well as applicable real estate and transfer taxes, are then seamlessly delivered by ClosingCorp SmartFees and auto-populated into BREEZE. In addition, originators can easily enter specific closing cost fees. When complete, the user can preview the final LE before sending it to the borrower. From start to finish, the process of completing and delivering to the borrower can take less than 15 minutes on average.
Once the LE is received by the borrowers, they can consent and sign it electronically, and BREEZE will automatically notify the originator at each step.
In addition to this new “self-serve” option, Mortgage Brokers can continue to use their own systems to prepare an LE or submit the loan to Plaza which will create and issue the LE to the borrower.
“Mortgage Brokers have had other technology options when it comes to creating LEs, but none have been as intuitive or easy to use as the LE capabilities we’ve built into BREEZE,” said Jeff Leinan, Senior Vice President, National Wholesale Production. “Plaza’s goal in developing this functionality was to give originators more choices, so they are not just locked into the first platform they learn. By making our LE technology accessible at the point of sale, combining it with our superior customer service and allowing originators to continue to use their own systems, our wholesale partners can decide for themselves how they want to prepare and issue LEs and who they want to partner with.”
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