Your Loan Origination Software (LOS) and Vendor Integrations

When comes to choosing a mortgage loan origination software, a question that should be asked in regard to your shortlist LOS options is what vendor integrations it has. The supported vendor integrations can determine how streamlined the back-end processes are.  Ideally, a LOS vendor supports integration from all of your existing vendors with minimum manual data import/export involved.  Some of the most popular and customizable LOS vendor integrations include:

Data Verification and Access

MeridianLink is a great example of a vendor integration designed to make customer data verification happen swiftly and allow progression to the next phase of the online mortgage loan application. You can pull credit bureau data from Equifax, Experian, and TransUnion within seconds, and a sophisticated algorithm balances variations in reports to create a single, highly accurate credit report. This vendor integration can also allow you to connect to dozens of credit resellers and service providers who verify employment, assets, deposits, tax transcripts, criminal records, and more.  

Income and Asset Verification

The Work Number powered by Equifax delivers automated income verifications with real-time salary information.  It is a completely paperless process that can be utilized to significantly reduce costs and turnaround time by eliminating traditional lag time and errors associated with "wet signature" processes.  Lenders can use the result in Day 1 Certainty applications to further streamline underwriting improving the overall experience for their borrowers and closing loans more quickly.

FormFree performs asset verifications.  

Title and Settlement Solutions

Solidify Inc. and First American Title deliver fee quotes and settlement services across the country.  It is a seamless process from start to finish, with a CFPB compliant state-of-the-art system that allows increased automation and productivity for all title and closing files.  All products and information are delivered through one single integrated, leading-edge technology portal, and support fully digital or hybrid closings. 

Deep Analytics and Evaluations

CoreLogic and First American offer industry-leading housing marketing and prospect intelligence to keep you informed on key drivers in the housing economy, and help you find, evaluate, and onboard prospects. Property values can be diagnosed and monitored, and portfolio risk tracked and hedged. Accurate flood zone determinations help guarantee flood compliance, fraud experts and mortgage fraud solutions work to help identify mortgage fraud vulnerabilities, and default servicing is also available.

Regulatory Compliance

ComplianceEase provides the capability for real-time audits for regulatory compliance violations. ComplianceAnalyzer is the mortgage industry's most adopted automated compliance solution with the most comprehensive TRID auditing for both first mortgages and home equity loans and lines. It covers federal, state, and local requirements to ensure regulatory compliance, and also provides a higher level of efficiency from within the LOS.   

Automated Underwriting Systems

Fannie Mae and Freddie Mac integrations mean you can quickly and easily service customers who apply for such loans, from early pre-qualification through verification and underwriting steps to ensure full compliance with federal regulations. Brokers who want to become suppliers can benefit significantly from this compatibility with loan product advisors and loan closing advisor integration.  

For a complete list of integrated vendors, please visit our partner's page or ask your account executive.  Your LOS should be integrated with several dozen vendors and always seek new partners to streamline and enhance the mortgage loan origination process.