Hi fellow Bankers,
A few weeks ago, we had a bombshell dropped on us. Our LOS Vendor was pulling the plug on our LOS systems - both of them (Mortgage and Consumer). They have given their entire customer base very little time to find something new. They are offering a few alternatives but they are not ideal. While we are normally proactive with these major decisions, we have been forced into being reactive on this. Some of you may be in the same boat as we are, but I'm trying to be non-biased, which is why I have not named the vendor or the product specifically. So I'll get right to the point:
We are looing for an LOS system that can handle both Consumer Loans and Mortgages and has commercial capability. So I'm asking, what do YOU use? Is it capable of both Consumer and Mortgage? We have been doing a lot of research over the past week, and have found a few possibilities, but we do have some pre-requisites such as the LOS should ideally be an ON-Premises installation vs. Cloud.... Ideally, the Mortgage and Consumer solutions should NOT be two separate products, but if it comes to that, we are looking for the best products available. Our user base in about 120 employees, so we are talking about a LOS user base of around 50 people. Any suggestions or feedback is always appreciated. Thank you!
We are in the same situation as you, so I would also be interested to know what systems other lenders are using. We have contacted Laser Pro and are waiting for a demo.
Which vendor is pulling the plug?
Wolters Kluwer's Compliance 1 is who we use for consumer, commercial and real estate . Call Matt Devine, Acct Executive at 320-240-5112.
LaserPro handles consumer, mortgage and commercial products.
Hi..we too are in the same boat with Fiserv EasyLender. I had a voicemail from Finastra Lending Solutions (formerly D&H) soliciting our business. They offer LaserPro and MortgageBot. I have talked to another bank who seems pleased with those two systems but have not personally investigated them yet. The contact is Katharine Jarm at Finastra. 262-292-2714. I also have not yet investigated the new solution offered by Fiserv..not real happy with them. Would be curious if anyone has seen a demo or learned anything about it yet ?? Any feedback would be greatly appreciated. Good Luck everyone.
I think it would help if you folks mentioned what core you're using ... FYI, we're on PhoenixEFE and use CreditQuest for commercial loans, Mortgagebot LOS for mortgages and LaserPro for other loans.