What are the 3 critical criteria that need to be met in order to identify a next-generation LOS?
In a recent post, we asked the question: What does Next-Generation really mean in terms of the lender’s loan origination software? We also wrote about this in a recent article in HousingWire.
In the HousingWire piece, we provided a number of examples of functionality only found in next-generation systems and also 3 critical criteria that will identify a next-generation LOS.
These are clues you can use to determine whether you’re actually seeing a demo of loan origination software that can meet your needs in this new mortgage market.
Today’s users expect to work on software that offers them the newest user interfaces to make their work fast and efficient. How the software looks is important and plays a role in software adoption.
In the past, lenders had to wait for someone else to create integrations before they could work with their partners of choice. API’s have changed all of that and the next-generation LOS uses them well.
For mortgage lenders, efficiency is all about the workflow. Next-generation software provides AI-powered automation that can learn with experience to keep deals moving through the system efficiently.
To find out more about these three clues, see our article in HousingWire. To see them in action, contact us today to see a demo of MCP.
By Joe Camerieri, EVP, Client Account Management at Mortgage Cadence
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