Customer Shout-Out #2

We like to recognize our customers who are trying something new, or doing something great, or are just generally amazing with our software.

Who: Randy and his team at a credit union in St. Paul, Minnesota

Customer Since: 2011

Kudos: The credit union has just completed their training for the Loan Management System (LMS) and they are going to begin using the system.

Here’s a shout-out to the credit union! Congratulations on finishing your training and we look forward to working with you in the years to come!

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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.