Cost overruns are plaguing mortgage manufacturing, and the prime suspect is the lack of system-driven automation. Finastra, in partnership with LoanLogics®, aims to change this with its latest enhancements to its MortgagebotLOS loan origination system (LOS). This AI/machine learning based task automation technology is designed to reduce or eliminate the manual work performed by origination staff. Embracing Mortgage Automation The…
Author: N Jones
Revolutionizing Mortgage Processing with LoanBeam Processing Automation (LBPA)
In the competitive mortgage industry, efficiency and accuracy are essential. Manual processes often lead to errors, delays, and increased operational costs, hindering productivity and customer satisfaction. LoanBeam Processing Automation (LBPA) is designed to address these challenges, transforming how lenders handle mortgage processing. Tackling Manual Errors and Delays The Challenge Manual processing of mortgage documents, especially paystubs and income verification, is…
Improving Loan Processing Efficiency: A Game Changer for Mortgage Lenders
The mortgage industry is fraught with inefficiencies stemming from traditional loan processing methods. Manual data entry errors, slow turnaround times, and high operational costs plague the process, often leading to delays and increased expenses. Improving loan processing efficiency is crucial for lenders to remain competitive and meet the demands of today’s fast-paced financial environment. Identifying Common Inefficiencies Traditional loan processing…
Embracing the Future of Mortgage Lending with LoanBeam Income
In modern mortgage lending, industry professionals know the challenges of income verification. With regulatory demands tightening and the cost implications of loan buybacks due to verification errors rising, the mortgage software industry has needed an innovative solution. LoanBeam Income by LoanLogics is the definitive answer to these complex issues. Navigating Mortgage Software Industry Challenges Today’s lenders are pressured to adapt…
LoanLogics Expands LoanBeam Income Calculations Services
Jacksonville, FL, May 13, 2024 — LoanLogics, a recognized leader in loan quality technology for mortgage manufacturing and loan acquisition, today announced significant enhancements to its LoanBeam income calculation technologies. The enhancements will enable lenders to efficiently process income documents related to wage earners in the same service they use to process self-employed borrowers. By gaining access to all income…