August 8, 2023 | 8 min read
What's wrong with your LOS - Part II
Based on our experience developing mortgage-related software for top 50 lenders for over 20 years, we know that all lenders suffer the same 8 challenges around their loan origination system, regardless of which system they are using. Our assertions are two-fold:
- First, it is highly unlikely that you will eliminate ANY of these 8 issues by changing your LOS. To be clear, we are not saying you can’t eliminate ALL 8, we are stating you will not eliminate ANY.
- Second, given the first assertion, your resources and energy are better served at “fixing” what you have.
This article is being separated as 3 different parts, Part I and Part II will review each of the 8 challenges in-depth and Part III will emphasize on why you should retain your LOS despite the problems being faced by the lenders. See if you can relate to how each of the issues manifests itself in your company and whether you have any confidence they will be eliminated.