Report: 75% of lenders not satisfied with LOS value

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STRATMOR announced at the “MBA National Technology in Mortgage Banking Conference and Expo” that it has launched an expanded 2016 Technology Insight Survey. Previous Technology Insight Surveys — 2015 participation included lenders representing 40 percent of industry volume — showed that roughly 3 out of 4 lenders are not satisfied with the value they are getting from their LOS systems, of the roughly 1 in 4 lenders that are, most are smaller lender wanting to “keep things simple,” and roughly 20% of lenders reported abandoning an LOS implementation, with proprietary systems being least likely to be abandoned. It is easy to see how important it is for lenders to have information about the technology they are considering based upon the independently surveyed experience of real users, as provided by the Technology Insight Survey.

Curious about what other thousands of mortgage companies that have made the change to OpenClose?

Due to our wide-range of web-based solutions, our mortgage software customers range from Top 30 mortgage lenders, credit unions, or community banks to loan originators.

OpenClose’s suite of mortgage software products is designed to create business channels, streamline workflows, and help you to do more with less. So our customers are both large and small, established and start ups

The story is quite diferent with users of OpenClose! But read for yourself!