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CoreLogic Rolls Out Third-Party Originator Portal

A new online loan processing system is now available, courtesy of ""CoreLogic"":http://www.corelogic.com/default.aspx.

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The company announced the release of Third-Party Originator (TPO) Portal, a new system developed by the San Mateo, California-based ""CoreLogic Dorado"":http://www.dorado.com/index.html. Using the portal, correspondent clients and wholesale brokers can upload and lock multiple loans in a bulk transmission to an enterprise lending system (ELS) and monitor them for conditions and approvals.

While the portal was designed as an interactive module for use with the existing ChannelMaster ELS, the technology can also adapt to any existing ELS.

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The system has a number of features designed to improve efficiency, including the ability to add information, view a loan's pricing history, and refresh loan data. Once loans are submitted, TPO Portal helps users manage the loan pipeline and resolve open conditions. What's more, the technology features integrated validation and compliance controls and allows full visibility to expedite loans through the system before locks expire.

""TPO Portal is all about speed,"" said Rob Carpenter, VP of technology for CoreLogic Dorado. ""While it's not possible to fully automate third-party lending, this is a new technology providing an unprecedented level of efficiency and convenience. TPO Portal's intuitive and simplified communication tools provide a top-down view of traffic, down to the loan-detail level. By increasing oversight and control, more loans can quickly move through the system.""

CoreLogic Dorado has already begun rolling out the new technology with its clients, including ""Fifth Third Mortgage Company"":https://secure.53.com/mortgage.

""We plan to use TPO Portal as part of a new and improved processing solution for our broker and correspondent lending channels,"" said Bob Lewis, president of Fifth Third Mortgage. ""This technology will be instrumental in achieving our growth goals with clients in this channel.""

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