The loan origination process can be time-consuming and inefficient due to manual processes. Origence has addressed these common pain points by launching the Origence Mortgage Platform, a tightly integrated point of sale and loan origination system.
The Origence Mortgage Platform removes inefficiencies from the loan origination process through automation and configuration. It’s an event and digital information-based system as opposed to the legacy form-based systems that the industry has relied on in the past.
“Our combination of automation and the ability to make work processes happen in parallel drives down cycle times for lenders,” said Michael Farris, Vice President of Strategic Solutions . “Further, our platform has a POS and LOS that are tightly integrated for bi-directional data and documents, removing the hurdles of disparate systems.”
What’s unique about the Origence Mortgage Platform is its automation and the ability to tailor workflows for different product and borrower scenarios. Using automation, Origence has been able to remove much of the manual process typically associated with other platforms in the mortgage marketplace.
The Origence Mortgage Platform offers a modern technology stack solution that uses drag and drop orchestration builders to allow lenders to easily customize their system without needing technical programming skills. With the combination of LOS and POS, multiple users can work in parallel on the same loan to expedite the overall process, delivering a better experience for the borrower. For example, one team could work on collateral value, while simultaneously another team could work on creditworthiness.
The Origence configuration embodies best practices, highlighting the opportunities for automation and streamlining workflows. The robust configuration capability allows lenders to have workflows tailored to their business that they can control 100% themselves without the need for programming.
“We have implemented high-level process design plans, resulting in project plans curated to the lender’s specific needs,” Farris said. “Our high engagement partnership approach with lenders spans the duration of the implementation, from planning through full production.”
With Origence, ongoing borrower communication is generated throughout the process, reducing the amount of time staff have to spend on the phone providing status updates on loans. This allows the borrower to upload their documents and check-in on outstanding documents.
As a result, the borrower’s visibility and engagement in the process are maximized, increasing pull-through and improving the overall borrower experience.
“Origence’s rich borrower experience allows lenders to self-provision as much data as they want, resulting not only in a quicker application, but just as importantly, a quicker time to closing,” added Farris. “We remove static conditioning with automated conditioning and dynamic tasking on the loan.”
Origence was developed post-TRID with compliance built-in, not strapped on the outside like many other solutions being offered. Lenders who partner with Origence recognize the intrinsic value of the management and strategic direction of a mortgage platform that is drawing on decades of industry expertise.
A seasoned industry veteran, Michael Farris leads the Strategic Solutions group at Origence. His focus on integrity and process-driven sales solutions have resulted in negotiated contracts with top 100 lenders in diverse technology and service industries.
Michael Farris, Vice President of Strategic Solutions at Origence
A seasoned industry veteran, Michael Farris leads the Strategic Solutions group at Origence. His focus on integrity and process-driven sales solutions have resulted in negotiated contracts with top 100 lenders in diverse technology and service industries.
