PCLender has released the next generation of its loan origination system (LOS).
The new version supports consumer direct, retail, wholesale and correspondent business channels; has a new user interface; and provides many new features, such as paperless document management, investor delivery and record archiving, the company reports.
The system can be customized with unparalleled ease, the firm says in a release. That means less heavy lifting for a lender’s internal IT team.
Although the LOS comes pre-configured with industry best practices out-of-the-box, it also allows for fine-tuning.
In addition, the new version sports the following features and capabilities:
- Supports real-time work queues and dashboard reporting;
- Offers paperless document management, investor delivery and record archiving;
- Has best of breed vendor integrations, which ensures comprehensive functionality options for documents, PPE’s, fees, compliance and fraud;
- Automates workflow to improve service levels and reduce costs;
- Includes real time compliance checks to ensure loans are closed with data that is compliant and matches approval, vendor integrations, last AUS and lock data;
- Provides rules-based system workflow that can be managed by business analysts; and
- Offers data protection and disaster recovery managed by PCLender.
In a release, Lionel Urban, CEO of PCLender, says these new capabilities “mean lenders can focus on growing their business rather than on technology and integrating various systems and vendors.”
PCLender uses a rules-based engine as opposed to the template-based engines other LOS providers use. The rules-based LOS empowers lenders to customize business rules, ensuring consistent, compliant loans every time, the company claims.