Choosing the right Loan Origination Software (LOS) can help you automate manual process, retrieve data with ease, index information and save on time. Read about the top six LOS available in the market for mortgage companies.
The heart of every mortgage office is an loan origination software. In fact, it is impossible to be in the mortgage business without one. An loan origination software will help you evaluate your efficiency in your operations. If you are just setting up your mortgage business or even want to upgrade, what you would need is an loan origination software.
What is an LOS?
A loan origination system or LOS refers to a set of software that is built to support the processing and application process that takes place during the mortgage life cycle. With an LOS, lenders and loan officers can effortlessly submit and retrieve data, while loan processors can easily process and index information. With an LOS, several manual processes, which are very time-consuming, become easy to perform. It thereby saves time for all the parties in the mortgage process.