Top 7 Mortgage LOS Systems for Lending Operations
Do you want to take your business to the next level? Are you looking for fully-featured loan processing software to grow your mortgage lending business? Do you want to make your compliance and document management manageable? Pick any top mortgage LOS systems from the list below and take your business to an unparalleled level.
Loan origination systems accelerate loan processing and automate the fulfillment of online application forms. The online cloud-based (Loan Origination Systems) LOSs are more scalable and can make your operations much faster. Undoubtedly, mortgage loan origination software is the emerging driving force of any lending institution, including banks, private lenders, and other financial institutions.
If you are looking for an LOS that offers digital lending and solutions to make smart business decisions, you are at the right place. A mortgage loan origination software that you choose should be adaptable to your particular business needs so that your operations can run more quickly and effectively. Here is a breakdown of the seven best LOS platforms that can be a perfect fit for your mortgage business needs.
7 Top Mortgage LOS Systems
- MeridianLink
- Encompass®
- Calyx Point
- Open Close
- Lending Wise
- Lending Pad
- Byte Pro
1. Encompass®
Encompass, a product of ICE Mortgage Technologies, is an all-in-one end-to-end mortgage solution provider committed to achieving the highest ROI. It reduces the cost of lending and investing on a large scale by simplifying processes. Following are the benefits accredited with Encompass®.
- Lowers down costs
- Ensures compliance
- Streamlines workflow
- Intelligent automation
- Maximizes profitability and returns on investment
Encompass® manages loans from third-party originators, enables compliance collaboration, and helps to build your acquisition portal. It’s customizable, adaptable, and easy to configure and deploy in your lending institutions.
ATI does everything Encompass® – from implementation to optimization to plugins and everything in between. If your lending business needs Encompass® customization to fit your workflow, just give us a call and wait while our experts do the hard work for you.
2. MeridianLink
It’s a top-notch digital lending solution provider company. It enables digital lending for banks, financial institutions, and Fintech. MeridianLink has earned authority in
- Digital lending for consumers
- Mortgage lending
MeridianLink is constantly evolving and bringing innovation according to industry needs. Following are the benefits associated with integrating MeridianLink into your mortgage system.
It offers
- Industry-first solutions
- Easily integrates within the existing systems
- Improves overall lending process
- Enhanced scalability
- Digitized automated workflows
This loan origination software offers flexible solutions according to the industry’s needs. Being a SAAS provider company, it knows how to make things right for its potential customers.
If your lending institution is already using MeridianLink, but you feel something needs to be added, our automation services for MeridianLink are what you need to make things better and faster.
ATI is your mortgage lending system service provider. With decades of experience implementing, managing, and automating loan origination systems, we are the helping hand you need at times of LOS distress.
3. Calyx Software
Calyx is the ultimate choice for borrowers who want to benefit from digital automated lending. It improves scalability, is easy to integrate, and provides solutions that you are really looking for. It offers the following products to address your mortgage needs.
- Path
- Zenly
- Zip
- Point
- PointCentral
It also offers a cloud-based loan origination system that is easy to incorporate, quickly launches and ensures growth in ROI. It’s time to accelerate the loan closing with the fastest launch time frame. Calyx provides opportunities for its customers to convert their leads to loans in no time.
4. OpenClose
Using OpenClose, you can fully automate the retail lending channel across all companies and branches while customizing the workflow to suit your specific business needs. OpenClose, with its remarkable integration capabilities, solves the problems of all lending institutions, including banks, credit unions, investors, and mortgage lenders. This exceptional loan origination solution provider helps make more intelligent decisions by:
- Ensuring secure document sharing
- Instantly processing the loan applicant document
- Saving documents via a proprietary Imaging system
- Lowering costs
- Improving the productivity of existing staff
- Offering fantastic UI and UX
OpenClose provides automation across all lending channels, which makes it stand out in the crowd.
5. LendingWise
Want to get more customer engagement to value your investors and borrowers and ultimately win customer loyalty? If you are at it, then LendingWise is the perfect choice for smart decision-makers. Boost your customer relationship management by incorporating
- CRM loan origination software
- Loan servicing software
It provides quick access to loan details, presents data analytics before the closing of any loan, and:
- Offers smart logic for any loan type
- Provides the best pricing details
- Ensures an impeccable borrower experience
- Real-time collaboration with lenders, brokers, and borrowers
Thoroughly customizable cloud-based SaaS software that ensures customer engagement and level-up loan conversion with its flawless lending CRM.
6. LendingPad
LendingPad is an online loan origination system that is designed to enhance the productivity of any lending or financial institution. It’s a web-based LOS designed to support residential mortgage lending. It offers
- Cross-department collaboration
- Automates and updates the existing system
- Offers analytics and insights into the processed documents
- Ensures compliance
- Easy to integrate and easily accessible
Its overall capability to provide solutions for lenders, brokers, and borrowers makes it unique.
7. BytePro
Like other LOS, it’s a powerful loan origination software. BytePro offers fast loan processing and empowers enterprises to make the most out of their lending business. It has the following features:
- Compliance management
- Streamlines loan processing by accepting online applications
- Electronic signature
- Easy to implement and easy to use
If you need administrative services for BytePro LOS, ATI has the best team you can trust. Whether you need BytePro automation, integration, or database services, we are here to serve you.
Prices for the Best LOS Platforms For Mortgage
Now that we have covered the unique aspects of our preferred loan origination platforms. Many of you may still be thinking about the price. However, the pricing structure of any LOS you need is entirely based on the size of your firm and its needs.
Here is a list of the top pricing strategies; choose the one that best suits your company’s demands.
Choosing The Accurate Pricing Model
It’s a common practice that most cloud vendors offer different subscription packages, including monthly, quarterly, and annually. However, an annual subscription package is less expensive than a flat subscription pricing model. Additionally, some LOS providers offer different pricing models, including:
- Pay–as–you–go,
- Consumption-based
- Success-based ones
User-based pricing:
This approach, which is often paid per user per month, gives you the freedom to add users as your company expands. Additionally, it provides you with steadiness and predictability for better budgetary control.
Consumption-based pricing:
You only pay for the features and capacity you use over a certain amount of time with Consumption-based pricing. A quarterly plan that accommodates variations in monthly volumes during any season can also help you save money.
Value-based pricing:
This pricing strategy actually depends on the vendor’s interest in the success and workflow volume of the client. Pricing is frequently based on the number of closed loans, and you only pay when a deal is successfully concluded using the LOS software.
Conclusion
Unlock the ultimate growth opportunities with LOS (Loan Origination Systems). Whether an SME, startup, or enterprise, a fully-featured cloud-based LOS is designed to maximize your loan production volume and ROI. Experience agile loan processing like never before.
With mortgage loan origination software, you can effortlessly unlock features like automatic lending, scoring, compliance, reporting, and more—all at the click of a button. Say goodbye to stressful loan processing; informed decisions are just minutes away.
Need help deciding which LOS is the best fit for your unique business needs? No need to worry. Reach out to us via phone or email at any time of the day, and one of our experts will get back to provide you with a personalized consultation. Happy Lending!
