LenderClose has integrated with MeridianLink’s LoansPQ loan origination platform. Enabled as an optional feature for LoansPQ users, the LenderClose platform provides API connections to every vendor it takes to approve, underwrite and close a mortgage or HELOC loan. Through LenderClose, lenders access a suite of reports and services – from flood certification and valuation products to title reports and e-recording services. The result is a streamlined and vastly accelerated underwriting process, an increasingly essential capability for all community lenders. With one vendor, one integration and one invoice, lending teams realize multiple points of efficiency.
“Today, community lenders are working with more vendors and fintechs than ever before to meet increased consumer demand for speed and personalization,” said Doug Glagola, vice president, Enterprise Solutions, MeridianLink. “That’s why it’s so important for lenders to have access to vendor aggregators like LenderClose. Unless that information is integrated seamlessly with the systems they already use, it’s incredibly difficult to provide the instant, accurate and reliable experiences members expect. LenderClose’s technical expertise and community lending market connections make them an ideal partner for our growing ecosystem of lending solutions.”
The LenderClose/LoansPQ integration means loan officers and processors will have less data-entry tasks and fewer platforms to manage. Forms and other documentation that comes through the LenderClose platform will be automatically uploaded to LoansPQ, saving staff upload and download time. In addition, loan officers will have access to real-time data and reports across both platforms and a digital archive of forms for quick retrieval from anywhere.
Andrea Remington, loan processing manager for Collins Community Credit Union in Iowa, anticipates the integration will have a dramatic impact on her team’s efficiency. “The ability to access LenderClose through our MeridianLink interface will free up an incredible amount of time for our staff,” she said. “Just the ability to use data that’s been pre-loaded by the originator will save us so much from both a time and errors stand-point. Every organization, especially in financial services, is looking for ways to keep staff engaged. When we find ways to make their lives easier, we have more time to spend on making the experience for the member easier.”
“One of the most exciting aspects of this integration is that our clients asked for it, and we were able to deliver, thanks in no small part to the big thinkers at MeridianLink,” said Omar Jordan, CEO of LenderClose. “Everyone we’ve worked with at MeridianLink – from the C-suite to the developer team – sees very clearly where the market is headed and what our mutual clients need to be successful.”
“Borrowers today enjoy a great and growing number of options for lending,” continued Jordan. “As competitors shout ‘no paperwork,’ ‘approval in minutes’ and ‘turn-around is less than two weeks,’ consumers hear it, and they expect local lenders to play ball. MeridianLink and LenderClose are helping the nation’s community lenders make the changes they need to do exactly that.”
About The Author
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.