Reverse mortgage originations and compliance with TILA-RESPA integrated disclosures will be easier as a result of recent enhancements to, and integrations with, loan origination systems.
Black Knight Financial Services spokesman Mitch Cohen reported to Mortgage Daily that among the 100-biggest banks by assets that originate mortgages, 40 percent utilize Black Knight’s LOS.
Black Knight says its LoanSphere Empower LOS from is an enterprise-wide platform that provides a seamless integration of capabilities to support retail, wholesale and consumer-direct channels.
For correspondent mortgage lenders, Black Knight provides its LoanSphere LendingSpace LOS.
The Roostify platform has been integrated into PCLender’s mortgage solutions in a move intended to provided a streamlined digital mortgage origination process.
Loan officers will be more easily able to collect application information and documents while collaborating with consumers and third-party providers in real time, PCLender said.
A June 6 news release from Reverse Vision said that Factual Data is now providing streamlined,
integrated credit reporting solutions to LOS users of RV Exchange.
Concord Mortgage Group selected RV Exchange as its LOS for reverse mortgages, ReverseVision announced last month.
The system accommodates Concord’s standard home-equity conversion mortgages and HECMs for purchases.
LendingQB said in May that Open Mortgage implemented its TRID-compliant LOS in 50 days.
“LendingQB has automated triggers that notify us when there are change of circumstance requests, which was a challenge,” Open Mortgage Lending Compliance Manager Stacy Baccus stated in the news release. “The ability to respond more quickly and stay on top of disclosure issues cut our turn times in half.”
