A robust Loan Origination System (LOS) that can establish strong controls over the increasing bad debts rate in the industry and simultaneously be the panacea to the rising competition in the lending world, is the need of the hour.
When empowered by the right technological tools, the LOS can be turned into a sustainable competitive advantage for any lending organization. This guide delves into the core of the loan origination process and brings to the surface, the most key components of the system.
This guide is your go-to place for every little detail that you are looking for inside the loan origination system!
The loan origination process involves a series of stages, such as loan application, loan processing, underwriting, approval or rejection of loan application and loan disbursement when a borrower applies for a loan and a lender disburses the loan amount after thoroughly evaluating the borrower through this stages.
What is los in underwriting?
The process of loan underwriting involves the lender determining whether to approve or reject lending to a borrower after evaluating the borrower's creditworthiness. Effective loan origination software is used to make this stage much easier for loan underwriters.