The power of an enterprise class loan origination solution to the lender ‘on demand’, via the SaaS model
The new URLA approved by the Federal Home Finance Agency gave lenders a three-year runway to prepare. Beset by development delays, the URLA improves standardization and assists lenders in digitizing the loan-origination process as they take residential mortgage loan applications from borrowers with the intent to sell the closed loan to either Fannie Mae or to Freddie Mac. Yet despite the extended time to ready their systems, many vendors struggled to develop and test software that generates compliant URLA forms.
Borrowers and lenders are seeing a very niche value proposition with a new category of technology providers who offer both POS and LOS solutions. These technology providers create an alternative to a stand-alone POS platform, and Wipro Gallagher Solutions caters to this demand, with its own POS platform, NetOxygen Launchpad. A combined POS and LOS solution can help lenders whose top priority is to have a single version of truth (to the borrower and the loan officer), while being able to limit the number of vendors they manage. To know more, listen to this episode of Digital Mortgage Simplified podcast series, by Sandeep Hinduja [Head of Sales, Wipro Gallagher Solutions].
Wipro Gallagher Solutions (WGS), a Wipro Limited company and leading provider of loan origination software solutions, announced the launch of NetOxygen v7.0, the latest version of its NetOxygen loan origination solution platform.
Wipro Gallagher Solutions (WGS), a Wipro Limited company and a leading provider of loan origination software solutions, today announced a partnership with DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services for the mortgage industry. The partnership will enable Wipro Gallagher Solutions to advance digital mortgage processes via a seamless integration to DocMagic services.