*Challenged Implementing A New LOS?*
**By Tony Garritano**
***With the new regulatory onslaught, lenders are increasingly looking to change their LOS. But changing your LOS isn’t easy. So, when I heard about this news from LendingQB, I had to share it with you. LendingQB will be holding a free webinar on why lenders struggle to successfully implement new loan origination technology systems. The webinar will be held on March 27, 2013, at 1:00 p.m. Eastern Daylight Time. Here’s the scoop:
****Research reveals that 62 percent of IT projects fail to meet their schedules; 49 percent run over budget; 47 percent had higher-than-expected maintenance costs; and 41 percent failed to deliver the expected business value and ROI. Attendees of the webinar will gain firm understanding as to why this is and how lenders can avoid becoming a statistic.
****“Mortgage lenders are on the hunt for new LOS platform as a way to increase efficiency and maintain compliance with new lending rules,” said Linn Cook, marketing director at LendingQB. “However, there’s always the risk that LOS implementations go over budget or fail entirely, costing lenders time, money and the opportunity to gain market share. We’ve performed extensive industry research and fully understand why this is happening and what lenders can do to achieve a well-planned, successful implementation that meets their expectations and delivers an attractive ROI.”
****The webinar will explore the risks associated with LOS implementations and discuss the role of web-based software, customer service and the changing dynamics of vendor-client interactions in improving LOS implementation success. A real-world case study will be offered by a lender that has been through successful LOS implementations and also observed failed projects and those that fell short of expectations or went over budget.
****Webinar speakers include:
****>>Linn Cook, Marketing Director at LendingQB
****>> Lester Alitagtag, Enterprise Solutions Manager at LendingQB
****>> Ron Cahalan, Sales Manager at The Lending Company
****Interested parties can sign up for the webinar by clicking here.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.