Chatting Away

We held our 2nd Chat Café session today.  It was so much fun!  I really enjoyed chatting with customers and answering their questions.  We also elicited some feedback about some future enhancements and additional support tools we would like to offer.  Join us for a future Chat Café session, Thursdays at 10:00 CST.  See you in a future session!

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How does a loan origination system work?

An LOS is defined as a system that automates and manages the end-to-end steps in the loan process – from the application, through underwriting, approval, documentation, pricing, funding, and administration.

What is the difference between loan origination and underwriting?

A loan officer is someone who works for a bank or credit union or other financial institution and offers loans to borrowers, while an underwriter is someone who analyzes documents from potential borrowers to determine if they are eligible for a loan.

What are the benefits of loan origination software?

By now, lenders are well versed in the benefits of a digital loan origination system, such as: Providing borrowers with easy, streamlined, and digital applications. Providing bankers with automating spreading and financial analysis tools.