Why Should Lenders Consider Outsourcing Their LOS Administration?

Today’s mortgage market demands more from you and your staff than ever before.  The complexity of the ever-changing lending environment poses an overwhelming burden on lenders of all sizes.  New rules and regulations; heightened pressure to reduce loan production costs; lack of resources; increasing turn times; continually changing technology demands; and an avalanche of lending data are pushing lenders to the limit.  There is intense urgency to increase profitability and capacity while mitigating these challenges, which are all significant factors forcing lenders to rethink their lending operations.

The environment for today’s lender is exceedingly complex.  The challenge for lenders is their internal staff’s ability to effectively manage all technology, integrations, compliance, data, software development, origination volumes, operations, and so much more. 

To survive, lenders require a highly skilled partner that genuinely understands mortgage banking and its ever-increasing complexities.  The right partner simplifies these complexities by handling multiple aspects of your lending operation, from IT and security to data intelligence, integrations, and process workflow, in whatever key areas you need help, by working as an extension of your team.  The right provider will not only reduce your operations burden by bringing the best of breed services and solutions with superior mortgage domain expertise, but help you elevate your lending operations. 

As a lender, you should be focused on generating and maintaining a profitable business in this market, rather than continually worrying about the enormous and ever-changing operational landscape.  Your burden is too significant, and the risk is too high to rely solely on your internal staff to deliver lending excellence.

There are several reasons why lenders may consider outsourcing their loan origination system (LOS) administration in 2023:

1.         Cost savings: Outsourcing LOS administration can be more cost-effective than maintaining an in-house team. Outsourcing providers can leverage economies of scale to provide lower costs.

2.         Improved efficiency: Outsourcing providers often have the resources and expertise to optimize the LOS system, leading to improved efficiency and streamlined processes.

3.         Access to expertise: Lending organizations may not have the internal expertise to manage their LOS system effectively. Outsourcing providers can bring in specialized knowledge and experience to help lenders maximize the benefits of their LOS.

4.         Scalability: Outsourcing providers can help lenders to scale their LOS operations up or down as needed, which can be particularly beneficial for organizations that experience seasonal fluctuations in demand for loans.

5.         Increased focus on core business: By outsourcing LOS administration, lenders can free up resources and focus on their core business activities, such as underwriting and servicing loans.

Outsourcing LOS administration can offer several benefits to lenders, including cost savings, improved efficiency, access to expertise, scalability, and increased focus on core business activities.

Why lenders choose to have Awesome Technologies provide loan origination administration:

1.         Experience and expertise: Awesome Technologies has extensive experience in loan origination administration and a deep understanding of the loan origination process. This expertise allows them to provide lenders with high-quality services customized to their specific needs.

2.         State-of-the-art technology: Awesome Technologies invests in cutting-edge technology to provide lenders with the most advanced loan origination administration platform. This includes sophisticated automation tools and data analytics capabilities that can help lenders to streamline their operations and make more informed decisions.

3.         Scalability: Awesome Technologies provides a scalable solution that can grow and change as lenders’ needs evolve. This helps ensure lenders can meet their business’s demands over time.

4.         Dedicated support: Awesome Technologies offers dedicated support to its clients to ensure that any issues or concerns are addressed promptly and effectively. This support can help lenders to minimize downtime and maximize the benefits of their loan origination system.

5.         Cost-effective: Awesome Technologies provides a cost-effective solution that allows lenders to focus on their core business activities while outsourcing the administration of their loan origination system. This can reduce costs and improve efficiency over time.

Overall, lenders choose to work with Awesome Technologies because they provide a comprehensive, cost-effective, and scalable solution supported by a team of experienced professionals.

For more than ten years, Awesome Technologies (ATI’s) highly respected staff has provided lenders like you with mortgage technology expertise.  We have created custom software and services to improve the lending process, streamline operations, lower origination costs, enhance borrower retention, while helping you create customers for life.  Our unparalleled solutions combine years of mortgage experience, in-depth data insights, with state-of-the-art technology to optimize your lending operations. 

Others dabble in mortgage, operating in many other industries (automotive, manufacturing, health care, insurance, hospitality). At ATI, we don’t just speak mortgage; it’s in our DNA.  We exclusively work in financial services to best serve our lending clients and their borrowers.   Our extremely responsive team is available to advise you on a variety of today’s most pressing technology, operations, data, and compliance issues, far surpassing what a typical consulting company can deliver.  ATI values the importance of a strong relationship and is passionate about providing you with highly competent mortgage technology and operations experts to provide timely and accurate responses to all of your lending concerns.