Loan origination software automates the end-to-end loan portfolio cycle, simplifying and improving both the application and approval of loans. Loan origination solutions offer a holistic view of borrower transactions across all channels and products within a single platform.
By centrally managing loan products, loan origination software reduces regulatory compliance risk. In addition, loan origination tools offer insight into each transaction through real-time business activity monitoring, as well as content and resource optimization through audit trails. Some loan origination tools include underwriting and rating software functionality and credit analysis. Loan origination software is often implemented through the cloud, and these solutions typically contain loan servicing software functionality or integrate with those solutions to provide a comprehensive loan management solution.
To qualify for inclusion in the Loan Origination category, a product must:
Adapt to changing industry policies, scoring, and regulatory requirements
Capture and monitor customer documents and data in one platform
Work across multiple digital channels
Integrate with loan servicing software or include comparable functionality