LPOnline Update Includes Loan Officer Module

Posted by Orb Staff on October 12, 2009 No Comments
Categories : Residential Mortgage

Technology provider Financial Industry Computer Systems Inc. (FICS) has released the newest version of its online mortgage loan application system, LPOnline.

The upgrade includes a loan officer module that enables loan originators to save time approving loans by leveraging a ‘loan plans’ feature, which presents only loan options that have been filtered based on the borrowers' loan amount and credit scores.

Loan officers also have the ability to order up-front credit reports and view the full report online, giving them the ability to educate and work with their borrowers to determine the best options available, FICS says.

‘With LPOnline, the loan application, credit report findings and initial disclosures are simultaneously downloaded into back-office and document management systems to eliminate extra work and maintain data consistency throughout the origination process,’ notes Susan Graham, president of FICS.

The program is accessible through any Internet browser, which FICS says reduces implementation and maintenance costs.

The option to submit loans to Fannie Mae's Desktop Underwriter system also provides loan officers the flexibility of immediately being able to review Fannie Mae findings and work with borrowers to resolve any obstacles that may prevent the loan from being approved, the company explains.

SOURCE: FICS

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