Discover how highly accurate and complete borrower data, produced using smart lending AI, is solving many common frustrations with loan origination systems, while improving ROI.
After talking with so many lenders, it appears the collective effectiveness for most LOS or loan origination systems in the market today is relatively low. And while there are new vendors entering the market every year, the monetary and time constraints that come with onboarding an entirely new LOS make switching systems unrealistic. Because of this, lending organizations must reconsider the relationship they have with their current LOS, as they look for ways to improve the LOS experience and return on investment.
“The industry got forced into this Frankenstein of piecing different systems together, and it’s hard to unwind it even though many are trying,” says Kevin Peranio, Chief Lending Officer at PRMG, a residential mortgage lender. “There’s still no end-to-end solution; no panacea exists.”
This needs to change, and it can change, through the power of AI. Our newest eBook unpacks the reasons why your LOS, and the various plug-ins you may have, are falling short of your expectations. This eBook also provides practical steps lenders can take to mend their relationship with their existing system, including using AI to solve common frustrations, how to avoid “shiny objects” syndrome, and why investing in data quality can enhance your end-to-end performance. Ultimately improving your loan manufacturing experience and outcomes – and your overall LOS experience.
