The Mortgage Builder Loan Origination System Adds Closing Conduit, a New Module for Lenders and Title Companies
January 19, 2016
Closing Conduit Reinforces Mortgage Builder’s Commitment To Help Customers Reduce Costs by Automating and Streamlining The Mortgage Closing Processes
LUXEMBOURG – January 19, 2016 – Mortgage Builder, a provider of mortgage loan origination and servicing software systems, today announced the new Closing ConduitTM module. Closing Conduit is offered as an add on module to the Mortgage Builder® Loan Origination System (LOS) and can significantly improve the collaborative process between lenders, settlement agents and other third parties as they finalize closing disclosures. Home closings are more efficient because loan originators do not need to exit the Mortgage Builder LOS as disclosures are finalized and more accurate because data is shared electronically.
Closing Conduit can also help lenders, title companies and other parties involved in the closing process to comply with CFPB regulations by maintaining an audit log of the settlement-related transactions including comments shared between participants.
"Mortgage Builder’s Closing Conduit allows us to close loans more efficiently and with fewer errors,” said Amber Horton, Operations Manager at Cornerstone Mortgage. “Closers, title companies and settlement agents can easily share and review fees which has allowed us to significantly reduce the time to close loans and deliver more accurate closing disclosures to borrowers.”
“The release of Closing Conduit continues to reinforce the investment Altisource is making in Mortgage Builder’s products and services,” said Lawrence E. Alston, General Manager at Mortgage Builder. “We have received great feedback from our beta customers that Closing Conduit is helping them close more loans because they can close them faster and more accurately.”
“The Closing Conduit within Mortgage Builder significantly helped streamline the collaboration process between the Closing Department and attorneys,” said Tony Fox, Director of Integrations and Technology for 1st Priority Mortgage. “The solution provides us with a fast, efficient and user-friendly means of interfacing with our external business partners.”
About Mortgage Builder®
Since 1998, Mortgage Builder has provided industry-leading loan origination software (LOS) to mortgage banks, community banks, credit unions and other financial institutions. Mortgage Builder combines best practices, a broad partner network and an end-to-end software platform for retail, wholesale and correspondent mortgage production channels to help lenders close more loans for less, and stay compliant. Mortgage Builder is part of the Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) family of businesses. For more information, please visit mortgagebuilder.com.
Altisource Portfolio Solutions S.A. is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries. Altisource’s proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at altisource.com.