LoanLogics announced it has enhanced its LoanHD Investor Module for Correspondent Loan Acquisition by expanding the mandatory loan commitment options and adding direct trade capabilities, improving the ability of both investors and sellers to lower costs and enhance profitability, the company said in a press release.
The LoanHD Investor Module automates every step in an investor’s loan acquisition workflow from initial loan pricing, creation and management of commitments all the way through locking, hedging loan funding and onboarding, the release said.
LoanLogics’ latest release introduces changes and enhancements to the LoanHD Investor Module which include:
- New Direct Trade Capabilities – Investors now have the ability to create loan commitments by agency, product and security type and/or coupon rate.
- Enhanced Commitment Management – Investors can choose to blend unfilled commitment amounts into a new direct trade; roll open amounts to the next month's securities; extend open commitments to the next settlement month; or close off an open commitment with or without a pair-off fee.
- Trade Confirmation – After every direct trade, the LoanHD Investor Module generates a trade confirmation PDF, which includes commitment details, important dates and eligible loan programs, as well as rate, adjuster and price information.
“By adding the ability to conduct direct trades through a greater variety of mandatory commitment types, LoanHD Investor Module can help investors conduct more targeted trades, reduce costs, maximize profits and capture seller business in more ways than ever,” Melissa DeBlasio, product manager, correspondent lending acquisition, said in the release.
LoanLogics is a leader in loan quality technology for mortgage manufacturing and loan acquisition.