Date Added: Aug 2012
Loan processing is among the most complex of a financial institution's operations. A Loan Origination System (LOS) is developed specially to support banks and other financial institutions' loan application processing needs. It employs workflow technology to control and monitor the various steps in loan processing and uses digital imaging technology to reduce the delays and inefficiencies associated with paper documents. There is a need for a comprehensive LOS that enables the financial institution to process multiple loan types through a single LOS - effectively serving as a single point of origination.