PCLender Releases Updated Version Of Its LOS

Posted by Patrick Barnard on November 16, 2016 No Comments
Categories : Residential Mortgage

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.

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