Mortgage Cadence Issues Milestone LOS Release With The Launch Of MCP 4.0
Mortgage Cadence, an Accenture (NYSE: ACN) company, has released version 4.0 of its Mortgage Cadence Platform (MCP) Loan Origination System (LOS). The company launched MCP in 2021 and then rolled out two significant updates in 2022 and 2023. With this fourth milestone release, Mortgage Cadence changes the frequency of new releases and lets lenders choose to implement new updates immediately or later. This approach drives greater user adoption and eliminates disruptions that software updates may have caused in the past.
“Version 4.0 begins a new way of doing business that allows us to meet our customers where they are, put a higher value on their time and energy, and better support their growth,” said Seth Hooper, Executive Vice President of Product Management for Mortgage Cadence. “We have made significant investments in automation and quality assurance over the past two years, and it shines through in MCP 4.0.
MCP 4.0 includes impressive new functionality, such as powerful new document management and data extraction features as well as updates to ensure compliance with the latest GSE requirements.
MCP 4.0 will debut the first Limited English Proficiency (LEP) integration of its kind with Talk’uments, a digital language technology provider that assists lenders by providing personalized, accurate, loan documents and educational materials to loan applicants in their native language of Spanish or Chinese, with these language choices broadening in the near future. The integration allows MCP to send loan data and borrower information to Talk’uments, who then invites the borrower into the platform to review documentation in their preferred language. With Talk’uments, MCP lenders have another tool for serving their communities, accessing new markets, and gaining market share.
Delivered in the Microsoft Azure Public Cloud, MCP provides a secure, scalable system, accessible from anywhere and on any device. Inclusive of a leading point-of-sale through closing collaboration tools, MCP is both complete and easily configurable, offering rules-based workflow, leading UI designer tools, and an open architecture designed to meet the needs of today’s lenders. MCP serves as the ultimate single system of record.
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