A survey of mortgage lenders indicates that loan origination systems are often lacking for the compliance and lead tools. But LOS providers have been busy integrating other services.
The STRATMOR 2016 LOS Technology Insight Survey said that less than a quarter of the more than 250 lenders surveyed indicated compliance tools in their LOS were highly effective and gave them a competitive advantage.
The share which considered audit trail tools that help in responding to repurchase requests highly effective was only 22 percent, and just 21 percent said integrated third-party compliance services were highly effective.
Source: Mortgage Daily