LOANSIFTER RELEASES AN INDUSTRY FIRST
WITH NEW EORIGINATIONS PLATFORM FOR LENDERS
Point-of-sale (POS) origination platform combines customizable
mortgage applications with real-time pricing; serves growing
number of home buyers
shopping for mortgages online
APPLETON, WI—March 9, 2010—LoanSifter, the leading provider of web-based loan product eligibility
and pricing tools, today announced the release of its new eOriginations
point-of-sale (POS) platform, the mortgage industry's first consumer-facing POS
origination platform that combines real time pricing technology with a highly
customizable and easy to manage online mortgage application.
eOriginations (www.eOrginations.net)
provides a powerful yet inexpensive solution for lenders of all sizes to quickly
take advantage of the increasingly tech-savvy consumers
shopping for mortgages on the Internet. Backed by LoanSifterís unparalleled
back-end automated pricing engine, featuring products and guidelines from over
135 correspondent and wholesale investors as well as automatically updated
rates in real time, eOriginations incorporates all the essential elements for
loan origination, including credit reports, eligibility and pricing, APR
calculation, Good Faith Estimates, disclosure documents and the collection of
eSignatures. eOriginations tightly integrates with Wolters Kluwer Financial
Services, the market leader in document and compliance solutions for banks and
credit unions, and many credit vendors including Kroll Factual Data and
CBCInnovis. eOriginations also integrates with existing loan
origination systems (LOSs) and is available through several cost-effective
pricing options.
"Originations is simply more powerful than any other solution on the
market, and itís less costly," said LoanSifter president Bruce Backer. "For
the first time, all lenders – regardless of size – now have a POS
solution that provides complete delivery of loans from beginning to end. While
other solutions provide manually updated product and pricing information,
eOriginations is the first to deliver automatically updated rates, products and
investor guidelines in real time, and the first to combine this with fully
customizable online applications and tools. And it takes virtually nothing for
lenders to get started – eOriginations is ready to go in days, not
months."
Features of the eOriginations platform include:
•
Consumer facing Web pages and marketing
tools
•
Fully customizable online 1003
application
•
Real-time featured rates with automatic
updates
•
Simple drag & drop web publishing
•
Fully compliant electronic disclosure
capability
•
Automated delivery of loan status updates
•
Manual and/or automatic rotation of loan
officer assignments
•
Email reminders to consumers
•
Consumer-driven rate watches
Backer added, "Today's borrowers want access to all loan products,
rates and prices they can get their hands on, and yet they also want the convenience
of completing their applications securely and at their leisure. With
eOriginations, lenders can give consumers everything they need, while at the
same time directing consumers to their most competitive offerings. Not only
that, but weve made this solution available at just a fraction of what many
larger institutions have spent developing less
powerful consumer-facing tools and applications. eOriginations does more than
level the playing field – it represents a whole new field of play."
About LoanSifter
LoanSifter, Inc. provides the banking industry's most comprehensive
tools for mortgage bankers, loan officers and secondary departments to price,
market and manage loans. The companyís flagship product, LoanSifter, is an
accurate, web-based product eligibility and pricing solution providing banks,
credit unions and brokers with advanced tools to improve their service levels
and increase profits. LoanSifter boasts the most comprehensive investor
database in the industry with over 135 correspondent and wholesale lenders.
For more information about LoanSifter, call 920.268.4770 or visit www.LoanSifter.com.