""LendingQB"":http://www.lendingqb.com/, a California-based loan origination software (LOS) provider, has unveiled its ""Lean Lending"" model designed to reduced origination costs by as much as half.[IMAGE] [COLUMN_BREAK]
Using the model, lenders receive guidance on streamlining processes or eliminating functions, ensuring compliance issues early in the process, and driving continuous improvement with staff reviews and re-training.
""It can take up to 3 years for lenders to understand a new LOS platform and create the best practices to take advantage of new technology,"" said LendingQB president Binh Dang. ""LendingQB can shorten the learning curve to just 6 months by providing a lean set of best practices.""
In keeping with its Lean Lending strategy, LendingQB also announced the release of the Qualified Mortgage (QM) functionality within its platform. The new functionality checks the limits on loan features, automatically checks for caps on points and fees, and verifies test performances and calculation results for underwriting requirements, allowing for easy compliance with the Consumer Financial Protection Bureau's new guidelines.