LoanLogics has integrated its LoanDecisions Product Eligibility and Mortgage Loan Pricing platform with Vantage Production LLC’s customer relationship management (CRM) platform, VIP, in an effort to help loan originators access accurate loan pricing earlier in the mortgage application process.
Loan originators can use the integrated solution to generate a pricing scenario, select a loan option and send the results to VIP’s sales presentation tool in real time. VIP then uses the product eligibility and pricing information to create lender-controlled presentations of borrower options.
The proposals can be presented in person, by email, through mobile devices or online via a secure website.
The integration “provides a competitive advantage that will help loan originators win business and demonstrate their expertise to clients, prospects and referral partners,” said Sue Woodard, Vantage Production’s president and CEO.
“This integration seamlessly improves the effectiveness of the initial engagement with borrowers, delivering a positive experience that will lead to long-term client relationships and continued referrals.”
The tool can also be used to educate and help borrowers better understand their mortgage options and make more informed decisions — which is in line with what the Consumer Financial Protection Bureau (CFPB) has been encouraging the mortgage industry to do with its “Know Before You Owe” initiative, said Matt Thoman, product manager of origination technologies at LoanLogics.
“The platform is easy to use, delivers unparalleled efficiencies and helps ensure that all transactions comply with Consumer Financial Protection Bureau regulations, and supports their efforts to encourage borrowers to comparison shop before they purchase a mortgage,” he said.
LoanLogics provides loan quality management and performance analytics. Vantage Production offers automated marketing and sales solutions for mortgage lenders.