The loan origination process can be labor intensive.
There are so many steps involved from reviewing the credit bureau to running the vehicle valuation. The process is further complicated when lenders institute more steps such as pre-screening verifications and alternative data pulls.
With some loan origination systems, these processes are automated which can help underwriters speed up their work flow and decrease callback times (leading to happier dealers and more deals for the lender!). It is convenient and efficient to have technology step in to take on some of the workload when possible.
One of the ways that Launcher helps with the complex underwriting workload is with autoBUILT.
autoBUILT is the auto-structuring tool inside appTRAKER Loan Origination System. Not only does autoBUILT speed up the decisioning process, but it also helps eliminate underwriter data entry and calculation errors, and helps underwriters adhere to the lender’s program guidelines and tiers.
When dealers submit applications, the underwriter simply chooses to activate autoBUILT which will reference the available data points such as credit bureau attributes and vehicle information. autoBUILT will instantly give the underwriter the ideal callback based on the lender’s underwriting parameters.
Of course, the underwriter still has the ability to make changes and even perhaps override the system’s recommendations (if authority levels permit), but using autoBUILT is guaranteed to help speed up the efficiency of the origination work flow!
To learn more about how LAUNCHER.SOLUTIONS is helping lenders originate more efficiently, check out www.launcher.solutions or give us a call at 877.556.2437.