Top Six Loan Origination Software for Mortgage Companies

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.

Top 6 LOS in the market

Here is a quick review of the top six LOS in the market:

  1. Calynx Point
    This LOS is the most established in the business. It has an interface of 200 plus vendors. This LOS also has a new zip feature, which makes it easier to interview borrowers.
  2. Encompass
    This LOS, which has been designed by Ellie Mae has a new update which has made it speed up its processing. After calyx, this is the next most established LOS.
  3. Lending QB
    This LOS is one of the most modern LOS solutions and can be easily integrated with BNT touch digital mortgage solutions. This LOS works great for correspondents, wholesale and retail.
  4. LendingPad
    A modern and intuitive user interface makes this LOS stand out. The software in this LOS is cloud based and can be used from anywhere. This LOS comes with a dedicated account manager.
  5. Blue Sage
    This LOS, from a new LOS provider works effortlessly with DU and Fannie Mae. It comes loaded with mobile loan officer tools.
  6. Arrive
    With Arrive, LOS, CRM and POS can be viewed from one place. This LOS comes with an AIME membership.

As a mortgage processor, an LOS will be the heart of your business. Your business efficiency and the ability to offer a great experience to your borrowers will heavily depend on the quality of your LOS and the capability of your team to use it.

Outsource mortgage services

If you are looking for help to set up an LOS or any other mortgage service, Outsource2india is your best bet. We are one-stop shop for any mortgage service that you may require, be it pre-processing support, processing support, mortgage closing support, mortgage post-closing, appraisal support, title support, underwriting support, mortgage software customization, mortgage dashboard, and REO support to name a few.

With our stringent quality control, you can be assured of less errors. Our services can help you reduce your closing time by 30% and operational costs by 50%. You can also expect ramp ups and ramp downs to be twice as fast. Find out more about outsourcing mortgage services today and give your business a competitive advantage.

Which LOS would you use? Let us know which LOS you would prefer and why by leaving a comment in the box below. We, at Outsource2india love to hear from you.

Interested to know more?

  1. Five Ways Outsourcing Can Accelerate Your Enterprise’s Mortgage Processing
  2. Why Credit Unions Should Outsource Mortgage Underwriting?
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