The StoneHill Group, a provider of quality control (QC), due diligence and mortgage fulfillment solutions, says it has launched a new software solution to help mortgage bankers meet their growing compliance requirements at all stages of the loan cycle.
LES (Loan Evaluation Software) is a Web-based tool that can be fully customized to help mortgage bankers manage risk while reducing time-in-file costs.
The tool transforms the pre-funding and post-closing review process from hours to just minutes while simultaneously enhancing clients' ability to manage risk through enhanced reporting, StoneHill says.
‘The pressures on today's mortgage bankers to produce and demonstrate fully compliant loans are enormous,’ says David Green, president and CEO of the company. ‘We developed LES to give mortgage bankers a fast, effective and affordable option to manage the QC process and QC vendor reviews. It can be used as a stand-alone solution or as a complement to The StoneHill Group's existing QC and fulfillment services."
Accessible any time through the internet, LES can be customized to meet the needs of investors, agencies or third parties. It also serves as a system of record for mortgage lenders, allowing them to retain audits and reports in a secure environment for as long as they are needed, explains StoneHill Group.