Several of the top loan origination system providers have updated their products, integrated with other technology systems and touted new mortgage lender customers.
A report from the American Bankers Association, the 23rd Annual ABA Residential Real Estate Survey Report, ranked the top LOS systems among 159 surveyed banks.
At the top of the ranking was
Encompass from Ellie Mae Inc. After that was Point from CalyxSoftware, then D+H’s Mortgagebot and Wolters Kluwer’s ComplianceOne.
Fiserv Inc.’s EasyLender and Harland Financial Solution’s LaserPro tied for the fifth spot on the ABA ranking.
Pleasanton, California-based Ellie — a Mortgage Daily advertiser — announced last month the launch of Encompass 16.1.
The latest iteration of Encompass includes new trade management reporting, a new eSign platform and expanded construction lending support as well as enhancements to integrations with Fannie Mae, the Federal Housing Administration and Freddie Mac.
“With this new release of Encompass we’re providing new capabilities that enable our banks, credit unions and mortgage lenders to originate and fund mortgages with improved compliance, loan quality and efficiency,” Ellie Mae President and Chief Executive Officer Jonathan Corr said in the statement.
Freddie’s Loan Product Advisor has been integrated into Ellie’s Encompass in conjunction with Freddie’s roll out of its Loan Advisor Suite, an announcement issued on May 16 indicated.
The integration of Loan Product Advisor, the next generation of Loan Prospector, promises to enable Ellie customers to originate loans within Freddie’s guidelines more easily and with greater certainty.
“Ellie Mae’s Encompass solution enables banks, credit unions and mortgage lenders to create and fund mortgages in one system of record for compliance review, quality assurance and improved efficiency at every loan stage,” the statement said. “Encompass is used by more than 180,000 contracted and thousands of lenders and partners, including seven of the 25 largest U.S. mortgage lenders.”
On the same day, Ellie reported that a process was developed with Wells Fargo & Co. to make it possible for
joint customers to deliver loan data in a streamlined, efficient and secure manner.
The integration with Wells Fargo is intended to eliminate file downloads and uploads in multiple locations while ensuring
that the data is accurate, organized and securely transmitted.
A pair of new business intelligence dashboards
have been released for the Enterprise Lending Center LOS, Mortgage Cadence announced in April.
Lenders reportedly can easily view compliance tracking and portfolio management statistics with the dashboards, Mortgage Cadence noted.
“Our new Business Intelligence tools will enable our clients to make smarter decisions based on real-time data that is already broken down for them, giving them greater empowerment and ownership of their processes,” Mortgage Cadence Product Management Lead Paul Wetzel stated in the announcement.
Essent Guaranty Inc.’s mortgage insurance is now available through the Enterprise Lending Center, a May 17 statement said. The integration reportedly gives lenders access to delegated and non-delegated loans and real-time rate quotes.
Black Knight Financial Services Inc. said in April that PNC Bank, N.A., is implementing the LoanSphere Empower LOS. The move is being done in conjunction with the implementation of other Black Knight products.
In April, a news release from CalyxSoftware indicated that Origin Bank had chosen the data-driven PathSoftware as its LOS. The Dallas-based software company said the bank picked its product from among 10 systems.
Also in April, CalyxSoftware touted Financial Funding Solutions Inc. as a new PathSoftware client.
A month earlier, CalyxSoftware said Central Pacific Bank signed on for its PathSoftware. Central Pacific reportedly considered 12 systems in all.
