Loan Origination Software Is Not Enough Anymore

April 15, 2010 - PRLog -- In at the moment’s market there are no means banks, brokers, and different sources can make mortgage transactions work without loan origination system. Using mortgage origination software is now thought-about standard enterprise follow for any loan origination operation.

In the same means we believe that document management and processing work movement software is turning into commonplace practice to extend the usage of the popular loan origination programs which are being used.

mortgage origination system techniques are built to assist primarily with the creation of mortgage paperwork and disclosures. They do present many other useful additions that make a mortgage officers life a lot easier, however when it comes to processing loans, managing documents, fraud detection and eventual file storage they fall short.

Document administration software program (http://www.atlos.com) is going to allow any exterior supply to fax or e mail conditions proper into the software program the place it can be automatically routed to the appropriate loan file and condition for that mortgage file. This protects processors, mortgage officers, and setup folks great amounts of time and paper waste that is not potential with any mortgage origination techniques getting used today.

Most loan origination software (http://www.atlos.com) was not constructed to completely support the processing of mortgage files. As an illustration they do not robotically report all transactions within the system in order that anybody can overview the history of that particular loan software program file. Comments could be made in most loan origination software program applications, however not within the degree of detail that's useful throughout a typical mortgage lifetime. Processors, originators, setup people and extra may need to depart comments about specific circumstances, statuses, or other action gadgets that commonplace loan origination software program doesn’t support.

Communication just isn't as versatile correctly with in style LOS systems. ATLOS will mean you can robotically send e mail notification when status updates are made or when specific actions require it. Examples could be charges locks or compliance dates. Retaining brokers, administration, processors, and other associated third events informed is vital to a successful mortgage business.

As brokers and lenders learn about these new instruments that meant to extend the performance of the present tools they are using, more and more of them will begin to integrate the software into their on a regular basis business work flows. Saving money and streamlining all the mortgage work flow is something that every one mortgage companies no matter how big or small must be investigating aggressively.

One other good thing about investing in “paperless mortgage” know-how is advertising and marketing mileage. Corporations using our software program are in a position to confidently say that they are “going green” and investing in paperless mortgage technology. These are all buzzwords that the average client is responding to since they hear them practically each day on the nightly information and at work.

Let us provide you a free demo of our doc administration software program and present you the true power of a hosted provider.

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ATLOS is the leading provider of loan document management software to the mortgage industry. Visit us on the web at http://www.atlos.com.