PerfectLO & LendingPad Announce Their Technology Integration & Strategic Partnership
PerfectLO, a full-featured Point-of-Sale (POS) platform specifically designed for the mortgage industry, and LendingPad, a leading Loan Origination System (LOS) provider, have announced the completed integration of their two platforms.
Using AI and rules engine, PerfectLO assists borrowers in completion of the loan application and then builds a smart checklist for them. Secondary and tertiary level questions that do not live on a 1003 are presented to borrowers through a unique, un-intimidating approach. LendingPad LOS will then import completed applications automatically so that MLO’s and processors swiftly use the information to complete the loan process through closing.
“Both systems are cloud-based which allows Loan Officers to easily work remotely. We are both former mortgage executives that understand where the pain and slowdowns that happen on the front and backend of the loan process. “We also both understand technology and built this integration together to allow our mutual clients to focus on mortgages and give them the ability to spend more time selling and technology to close loans faster,” said Derek Malila, President of PerfectLO.
“LendingPad is proud to be at the forefront of lending technologies by working with powerful platforms such as PerfectLO to enhance the loan origination process,” said LendingPad’s Managing Director, Wes Yuan. “Our mutual customers will enjoy LendingPad’s leading cloud-based LOS to streamline back-office operations and PerfectLO’s comprehensive suite of Point of Sale tools for borrowers and originators.”
PerfectLO built the first and only interactive questionnaire that assumes nothing and fact finds every detail known to loan kind. It provides a detailed document checklist to the borrower based on their answers, text/email milestone notifications to clients and agents, and an easy to read document for the LO with all of the borrower's answers. A Document Center for securely downloading and uploading documents between the Borrower and LO is also included. Recently they have added a "Bankers Suite" to their product allowing bankers to choose multiple loan products (HELOC's, Commercial, AUTO loans and Personal Loans). PerfectLO works in every language and queues up the questions in the borrowers preferred language. More information is available at https://www.perfectlo.com/
Residential mortgage professionals created LendingPad’s innovative LOS to help lenders make better lending decisions, provide exceptional user experience, and enhance individual originators’ ability to succeed. Leveraging a highly-scalable cloud infrastructure, LendingPad® offers end-to-end loan origination features that streamline the origination process while lowering the total cost of mortgage lending. LendingPad is endorsed by the National Association of Mortgage Brokers, a Premier Member of the Mortgage Banker's Association and was a winner of HousingWire's 2019 Tech100 award. More information is available at https://www.lendingpad.com/