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Yelena Kolesnik

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Key Components that Every LOS Should Have

on Wed, Aug 21,2019 @ 03:14 PM | By Yelena Kolesnik | Loan Origination Software loan origination system
I like to assume that I’m a decent cook, maybe not THE FOOD NETWORK worthy, but good enough to where I present something that looks and tastes good most of the time. I do need to work on my epicurean consistency. My usual downfall is not having one or two of the recipe’s necessary ingredients. I then assume that I can make a pantry item substitute (like baking soda for baking powder) or, feeling lucky, omitting the item all together (like Parmesan cheese in lasagna). Unfortunately, more times than not, the experiment doesn’t end well, and I’m left with a C+ dish. It’s edible, but it could be so much better. With every cooking experience I am learning what ingredients are mandatory to include and what should never be substituted. Although, a loan origination system (LOS) is no home-cooked lasagna, there are features and functionality that will make or break the product. Let’s review four important items that you should be in your LOS pantry.
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Digital-First Approach to the Consumer Experience, Does Your Financial Institution Measure Up?

As a millennial, I’ve spent a big portion of adult life with technology that allows me to do, surprisingly, a lot from the comfort of my couch, with my iPhone in hand. It’s fascinating to see how many staple processes in our culture have been completely flipped upside down as a result of technological advances.
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Important Items to Note When Investing in a New Loan Origination System

Several years ago, I was unexpectedly faced with the decision of buying a car. Not at all ready, I aimlessly read articles and bombarded everyone I knew with questions about their cars. And just like an internet review, the feedback was either overwhelmingly positive or negative. Through this process, I did receive one piece of great advice. Simply put, there is no perfect machine out there and not all features and factors are of equal value to everyone. It is important to identify your key needs and important features before you start the shopping and test-driving phase.
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