Mortgage Cadence, an Accenture company, has launched a new version of its Enterprise Lending Center (ELC) platform that adds a number of new features and capabilities.
This new version offers lenders greater extensibility, enhanced service ordering, additional regulatory support and the framework for the third-generation Borrower Center, the firm says in a release.
The new version adds an application program interface (API) layer designed with scalability and data integrity in mind. This new API layer maximizes configuration and enables extensibility through the software development kit (SDK). As a result, SDK users will have the ability to seamlessly integrate ELC functionality across their operations, from consumer mobile apps through servicing and secondary management, all while using the latest in design standards.
Mortgage Cadence says it continually expands its ELC interface list to include access to best-of-breed third-party service providers, giving lenders ever-increasing flexibility to choose their preferred providers. Most recently, the company integrated MGIC as an additional mortgage insurance provider option to its ELC platform.
This latest release of ELC lays the framework for the new Home Mortgage Disclosure Act (HMDA) requirements, including all new data points across all origination channels, the firm says. The release also includes the new data points for collection of government monitoring information; provides the ability to collect via a URLA addendum; and adds the data points necessary to generate the UCD File.
Next week, Mortgage Cadence will debut the third generation of its Borrower Center, building on the company’s proprietary technology that elevated the online mortgage lending experience more than 15 years ago. This release will expand ELC’s borrower self-service capabilities, providing borrowers with a superior experience and lenders with a more-efficient, cost-effective process.