Customer Shout-Out #3

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

Who: Cheryl at a bank in Minnesota

Customer Since: 2001

Kudos: The bank has been using Documentation Tracking and the Boarding Report for 10 years and Document Imaging since 2008.  They recently started using Loan Presentation to prepare new loans and also have recently purchased the Deposit Download so that they can scan deposit documents and also incorporate deposit balances into their credit presentations.

Here’s a shout-out to the bank!  They are always looking for ways to improve efficiency and streamline their processes using Suntell!

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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.