In Pennsylvania, ""LoanLogics"":http://loanlogics.com/index.html unveiled enhancements to its LoanDecisions pricing and eligibility platform.[IMAGE]
The enhancements improve LoanDecisions' Pipeline Management Tool, which now includes the ability to create custom statuses for locked loans and 18 additional reporting fields for enhanced compliance tracking. Users of the tool can now add up to 10 custom lock statuses to track loans from lock through close, funding, and sale.
""Updating the locked status of loans at a more granular level provides lock desk staff with a more complete picture of the mortgage pipeline and an audit trail for better tracking through the lock process,"" explained Matt Thoman, product manager for origination technologies at LoanLogics.
""Lenders can also use the enhanced Reporting Feature to compare the rate, price, adjustments and location of mortgage loans. This can assist them when preparing for a Consumer Financial Protection Bureau fair lending audit where they may need to show auditors that they are offering comparable pricing for borrowers,"" he added.
In addition, the LoanDecisions pricing form now supports expanded pricing characteristics related to the HomeStyle Renovation Mortgage. Administrators can also use this new loan scenario characteristic to create custom adjusters, margins, and guideline rejects through LoanDecisions' Advanced Margins settings.
""This latest release of LoanDecisions is just one of the many enhancements to the platform that are currently underway,"" said Ira Artman, SVP of product management for LoanLogics. ""We have made substantial investments in our platform to stay ahead of the competition and help our lenders to achieve their goals from both a profit and risk perspective.""