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LOS Enhancements and Advancements

Mortgage News

With the never-ending quest to provide the most comprehensive, intuitive, streamlined and technology-savvy loan origination system possible for existing and prospective clients, LOS developers are striving to provide the ultimate, most efficient and all-in-one lending solution. While some features and upgrades were made to existing systems, a couple companies launched new LOS programs. A few LOS providers actually integrated with or acquired technological components from other companies to give clients more well-rounded offerings.

In early October, Calyx Software unveiled the launch of Point and PointCentral 8.0 to help prepare clients for Calyx Mobile, a smart phone application launched last month that makes loan origination software mobile. The company said Point and Point Central 8.0, along with the account management system MyCalyx, will allow users to share information across LOS applications and gain more efficiency in workflow.

“We are excited that this release drives our clients toward the mobile technology so many of them have been asking for,” said Calyx Software’s director of marketing, Jody Collup, in an announcement. “We’re please that 8.0 provides such a springboard to help our clients increase their productivity and get the most out of the software that is so important to their business.”

Calyx, a Mortgage Daily advertiser, also announced new interfaces to the Calyx Network for its Point users. The Reliable Insurance-Additional Services menu item was added to the Interfaces menu, and the UPF Services-Flood Certification menu item was added to the Services menu, according to company announcements on Nov.2 and Oct. 2, respectively.

On Nov. 27, Radian Guaranty Inc. said it completed its integration with D+H company’s Mortgagebot, which will allow Radian mortgage insurance to be available through Mortgagebot EnterpriseLOS.

In its Sept. 25 media report, Mortgagebot claimed the adoption of the Mortgagebot Enterprise all-in-one loan processing solution by University First Federal Credit Union has increased First Federal’s loan application volume with online loan applications and put the mortgage lender on track to double its monthly loan production numbers in 90 days.

At the MBA’s 99th Annual Convention in Chicago, Blueberry Systems LLC revealed that Relay LOS users had access to eSignature and eDelivery capabilities from DocMagic to help streamline the loan origination document process and ensure compliance.

Southfield, Mich.-based Mortgage Builder announced in late October its acquisition of Denver, Colo.-based LXE Software.

In September, Mortgage Builder gave special event guests at the Millennium Hilton in New York City an advanced look at its redesigned loan origination platform called Architect. Mortgage Builder president and CEO Kevin Smith said Architect took the popularity of Mortgage Builder LOS and made it easier to use by increasing automation and providing effortless transition for current clients while lowering implementation time and costs for new clients.

LOS provider LendingQB released the results from its Enterprise Process Assessment tool on Oct. 19. Developed to help lenders make more objective technology buying decisions, the findings showed flaws in lender’s buying decisions such as tendencies to look for surface-level features, to use subjective evaluations for feature prioritization and to gather top-down versus bottom-up stakeholder input.

Late in September, LendingQB integrated its LOS with DocMagic’s document preparation and compliance technology to give LOS users an effortless compliant mortgage document process from start to finish.

Rounding out LendingQB news is the company’s early September announcement that its web-based, end-to-end LOS was selected as the platform for Fort Wayne, Ind.-based 3Rivers Federal Credit Union.

Elsewhere, mortgage software developer OpenClose broadcast announced on Oct. 4 the launch of OC Optics, a new enterprise reporting system that couples configurable dashboard management tools with management production reporting solutions to be used with the company’s LOS. Instead of having lenders cobble together a viable loan production analysis from different sources and programs, OpenClose said OC Optics brings all the information together in a single web-based solution and allows users to build a comprehensive and meaningful report without all the headache.

Prime+, the Prime Alliance Solutions mortgage lending platform, joined Mortgage Cadence LLC’s product suite and was renamed Symphony, according to a Sept. 25 media report. Mortgage Cadence claims the cloud-based platform is the first and only complete LOS with complete loan processing capability and integrated loan documents.

Amerisave Mortgage’s 10-year development of a mortgage technology platform finally came to fruition in Sept. as Morgistics, an enterprise-wide, web-based technology that manages the entire mortgage process in a paperless environment. Amerisave combined its technology and mortgage industry experience to make Morgistics easy to use and intuitive, according to the Sept. 10 report. Furthermore, previous vice president of national sales for Novo Appraisal Management Rich Kesling was named president of Morgistics.

Finally, LOS solution provider Financial Industry Computer Systems announced, in Jan., that its updates to Loan Producer, the company’s residential LOS tool, saved users loan file management time by offering a more efficient workflow on loan files and a more instinctive user interface.

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