*The LOS Has To Do Everything*
**By Tony Garritano**
***I promised you an LOS Scoop this week so here it is: Like I said earlier, it’s not another acquisition, but I think it is significant. The LOS has to be the rock that keeps the lender in business. As such the LOS of today has to both do more and offer more. It’s a tough job, but the good LOS is up to the challenge. Here’s what Associated Software Consultants, Inc. (ASC), is doing to expand the functionality of its PowerLender offering:
****The LOS offers business rule flexibility, SaaS deployment and it is also a single platform for mortgage, consumer and commercial lending. Now the LOS also offers indirect lending capabilities with its latest integration with DealerTrack.
****With the DealerTrack integration, PowerLender accepts all the pertinent loan application information indirectly from a lender’s network of auto dealers. PowerLender’s decisioning tools return a credit decision, an approved loan amount and related information back to the dealer. The loan record in PowerLender is automatically created and populated with the borrower information submitted from the dealer.
****PowerLender underwrites, processes, funds loans, and prepares all required documentation. This allows lenders to easily grow their Dealer Network, in addition, it allows them to buy and sell leads as well. PowerLender automates tasks to speed workflow. Validation tools help lenders make the right decisions fast while powerful customization tools allow lenders to offer new loan products to dealers.
****“This integration is yet another testament to our commitment in delivering a single dynamic platform for mortgage, consumer and commercial lending,” said Dave Stricklen, director of sales at ASC. “ASC is driven to deliver a consistent user experience for lenders through a single platform to best meet the ever changing needs of lenders across the country.”
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.