Origence has launched a new digital mortgage origination platform which the company claims sets a new standard for digital lending systems.
The company points out that this new loan origination platform is one of very few built since 2010.
The end-to-end system combines a digital LOS with point-of-sale tools to accelerate a lender’s loan production and improve closing rates, while significantly reducing costs.
The platform is highly automated, scalable and configurable to meet the evolving needs of any mortgage organization, the company says in a release.
“For years, lenders have been searching for a new mortgage platform that is capable of doing much more than current loan origination system (LOS) offerings, most of which were created years ago,” says Roger Hull, president and chief product officer of Origence. “As a thriving fintech company with a team of hundreds, we’ve leveraged our considerable resources to create a platform that can power a lender’s business for years to come – one that delivers an optimal digital experience for both lenders and borrowers alike.”
Origence says its platform solves four common pain points lenders face: sub-optimal pull-through rates; decreased productivity; rising costs; and increasing borrower demand for a better mortgage experience. It provides everything lenders need to accelerate and enhance their customer experience, including tools that automate the borrower’s application process and overall lending journey.
As a true, end-to-end solution, the platform also provides point-of-sale and fulfilment tools that empower lenders to reduce friction in the mortgage process.
It includes automated file assignment, conditioning and tasking, as well as an open application programming interface (API) and microservices architecture for smoother integrations with third-party technologies and services.
Meanwhile, the platform’s marketing automation tools empower lenders to increase their sales opportunities and improve pull-through rates.
“The lenders we are talking to are excited about the Origence platform’s automation features, such as its ability to automate orders from third parties and retrieve both data and documents, which reduces the need to rekey information manually,” Hull says. “We’re also getting amazing feedback on how our highly configurable platform enables lenders to create their own workflows and improve business efficiency.
“And because the platform is built with current technologies, our clients will be able to avoid the common hassles associated with older platforms, such as system downtime and the constant need for workarounds,” he adds. “We are confident we’ve created nothing less than the mortgage platform of the future.”