Suntell Releases LMS Version 18.0

Functionality includes a robust and flexible Loan Presentation module

November 4, 2013: Suntell announces the release of Version 18.0 of the Loan Management System (LMS). This release includes major functionality changes to the Loan Presentation area of the software. Loan Presentation has long been an area where Suntell customers can prepare proposed loans to take to loan committee for approval. This release included a re-write of this area to add more flexibility, report options, and better workflow.

“Feedback and input from our customers is the heartbeat of our product development,” says Veronica Wooten, President and COO of Suntell. “We reviewed hundreds of change requests submitted by customers, interviewed a multitude of end-users, and formed a small focus group to help us in determining the features and functionality that were critical to the rewrite of the Loan Presentation area of our system.” The feedback was incredibly valuable to the development team during the process. The scope of the project was very large, since it touched on many different areas of the software, based on that essential feedback from customers.

The end result has been very well received. “As you can imagine, each of our customers is unique in their product functionality desires and finding a solid, common ground on which to commit and meet as many needs as possible took us longer than we anticipated,” reflects Wooten. “However, had we not engaged with our customers to the extent that we had and taken our time to delve into the details, we likely would have gravely missed the mark with the end product. We hope that you are pleased with the outcome.” As a company, Suntell has been appreciative of the patience and support from customers during the development of this release.

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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.

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