Expanding Correspondent Loan Acquisition

LoanLogics has enhanced its LoanHD Investor Module for Correspondent Loan Acquisition by expanding the mandatory loan commitment options and adding direct trade capabilities, improving the ability of both investors and sellers to lower costs and enhance profitability.

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The LoanHD Investor Module automates every step in an investor’s loan acquisition workflow from initial loan pricing, creation and management of commitments all the way through locking, hedging loan funding and onboarding.
LoanLogics’ latest release introduces changes and enhancements to the LoanHD Investor Module which include:

New Direct Trade Capabilities – Investors now have the ability to create loan commitments by agency, product and security type and/or coupon rate. The platform enables investors to define which programs correspond to each security, which is then used for pricing and eligibility decisions.

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Enhanced Commitment Management – Investors can choose to blend unfilled commitment amounts into a new direct trade; roll open amounts to the next month’s securities; extend open commitments to the next settlement month; or close off an open commitment with or without a pair-off fee.

Trade Confirmation – After every direct trade, the LoanHD Investor Module generates a trade confirmation PDF, which includes commitment details, important dates and eligible loan programs, as well as rate, adjuster and price information. Roll and pair-off information can also be included in the trade confirmation PDF.

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“By adding the ability to conduct direct tradesthrough a greater variety of mandatory commitment types, LoanHD Investor Module can help investors conduct more targeted trades, reduce costs, maximize profits and capture seller business in more ways than ever,” said Melissa DeBlasio, Product Manager, Correspondent Lending Acquisition. “Sellers also have the freedom to direct production with greater control and flexibility to maximize their own returns.”