Blueberry Systems has introduced version 3.0 of its RELAY loan origination system (LOS). The new version sports improved compliance validity, adaptation of social media principles to foster workflow and preparation for larger-scale cloud computing offerings, the company claims in a release.
The company says the new features and capabilities will help lenders in meeting compliance with the Consumer Financial Protection Bureau's (CFPB) new Know Before You Owe mortgage rules and disclosures, due to take effect August 2015.
Wil Armstrong, president and CEO of Blueberry Systems, says the updated version of RELAY sets the stage "for another successful adoption of the next phase of industry compliance."
RELAY 3.0 includes new and re-certified services across Blueberry Systems' vendor platform and – as with the previous version – the company is not adding a surcharge or toll to use this functionality.
‘We're creating a cost-effective approach for our customers to access the services and data they need to operate efficiently,’ Armstrong says.
Features designed to simplify the user experience – including a heads-up display, customizable dashboard widgets, events and key dates, and messaging – bring the look and feel of a social media platform to the system interface, the company says, adding that this should help speed up adoption and implementation.
Armstrong says the new interface ‘makes it easier for a user to know what's next in their workflow.’
Blueberry systems says it has built out the foundation and framework in RELAY 3.0 for next-generation applications that include portals and business intelligence dashboards for multiple loan constituencies. These include customizable modules for executives, loan originators, borrowers, real estate agents, title companies, wholesale brokers and correspondent lenders.
In addition, the underlying changes to the system's architecture – led by new Chief Technology Officer Darren Shaffer – have improved performance and scalability, created a new level of extensibility through enterprise interoperability services (service-oriented architecture), and set the stage for larger-scale cloud computing offerings.
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