Product Name: TechLOS

What Does It Do? | Who Uses It? | Loan Types | Benefits

What Does It Do?

The Technicost Loan Origination System (TechLOS) is a complete web underwriting system designed to process all types of consumer loan, line of credit and mortgage applications. The LOS can also process basic commercial and agricultural loan applications.

The LOS becomes an extension of your banking system. The LOS can read and synchronize data from the banking core and inject approved loans. The LOS also connects with key industry partners for creditor insurance, credit bureau, mortgage insurance and collateral registries. It also includes integrated calculators for debt ratios and what-if scenarios. In other words, the LOS is the only system you need to perform all the activities related to underwriting and loan processing.

On the management side, dashboards and a range of automated reports and documentation tools allow lenders to oversee the status of all pending loans, significantly reduce document preparation costs, and reduce the risk of the loan processing errors.

TechLOS Key Features

• Accessible anywhere, anytime via the web.
• Consumer or Commercial forms processing for Term Loans, Re-advancable Loans, Mortgages, Lines of Credit, Overdraft Protections.
• Automated CMHC mortgage insurance and CUMIS credit insurance applications.
• Quick and simple Loan Quotes including real-time insurance premium calculations.
• Ratios, net worth, beacon scores and comments/conditions are kept updated in real-time.
• Unlimited co-borrower applications, spouse or other.
• Mortgage Renewal & Loan Extension module included.
• All agreements and contracts in PDF, including loan detail forms and terms, disclosure of cost of credit, personal financial statements, security and collateral agreements and insurance forms.

Management performance reporting of loans (status: issued/booked, approved, pending, cancelled, denied) with classifications by branch and officer.

Who Uses It?

While the Loan Origination System can meet the needs of all types of lending organizations, it does have additional features specific to the needs of Canadian Credit Unions.

• Consumer, Partnership and Corporation Loans
• Re-advancable Loans
• Mortgages (Conventional, CMHC)
• Lines of Credit (revolving and non-revolving)
• Overdraft Protections

Who Has Time for Pen & Paper?
Reduce paperwork and automate your underwriting to standardize your loan processes across your organization and improve the quality of lending decisions. Print all documentation and contracts with one click of a button.

Use Client History to Your Advantage
Keep track in real-time of applicant financial information, balance sheet, income and liabilities and use the history for more accurate decisions and profiling.

Connect Directly with the Industry Experts
Direct links to industry partners help you gather important information such as credit bureaus, insurance premiums and mortgage insurance, PPSA and tailored scoring decisions.

Manage Efficiently
Oversee the status of all pending loans with a wide range of automated analysis and documentation tools.

Boost Your Sales
Use the application to better know your customer and offer other products they qualify for.