Wipro Gallagher Solutions has launched a new version of its NetOxygen loan origination solution that offers improvements in the areas of operational efficiency, strategic integrations and standards and regulatory compliance.
The company says the new version is designed to meet the lending challenges and borrower needs of the future.
NetOxygen 6.2, offers better operational efficiency by way of loan document management functionality that groups and sorts documents logically and indicates the ones used for decision-making – adding to a lender’s capability to process loans with greater accuracy.
The new version includes an enhanced MyTask Plugin that provides loan counts and color-coded visual indicators for tasks by SLA that directly improve lender efficiency, the company says in a release.
It also includes a workflow reassignment feature that alerts users to new tasks they can work on and reassign themselves as the loan contact, improving lender productivity.
There’s also a new workflow archiving feature that the company says significantly reduces the number of records in the workflow database, allowing dashboards, loan selector and inbox queries to respond faster.
There’s also enhancements to the prequalification and preapproval feature to optimize the workflow and improve operational efficiency.
NetOxygen 6.2 will also feature a new integration with middleware providers. This will allow lenders to seamlessly select from a wider array of interface vendors with easier implantation and additional national coverage.
The new version is already integrated with Capsilon’s document imaging solution, Capsilon IQ, for enhanced imaging and data capture capability that lenders can use to complete transactions faster and reduce origination expenses.
In the areas of standards and regulatory compliance, the new version now offers application screens to meet the requirements of Uniform Residential Loan Application (URLA), improving compliance and simplifying user experience.
In addition, the new version now offers a MISMO v3.4-aligned capability that lets users import or export a loan without losing the loan details mentioned in the Uniform Loan Application Dataset (ULAD).
In addition, Wipro has refreshed the user interface.