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…
It’s time to amp up loan quality checks, and not just because “they” say so
As we’ve written about before, on March 1st Fannie Mae announced two changes to their quality control requirements. Both will be effective September 1st, 2023. These changes move quality checks up in lenders’ origination processes. Why? Because it makes sense to look at high risk loan characteristics and make sure loans in the pipeline are quality checked before they are…
A New Wrinkle for Mortgage Quality Control
Just announced March 1st, the timeframe for completion and reporting of post close QC reviews to Fannie Mae is being reduced to 90 days from 120 days. As well, Fannie Mae is now requiring lenders complete a minimum number of prefunding reviews monthly. The total number of loans to be reviewed must equal the lesser of 10% of the prior…