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RFPs for an LOS are Dead? So says one expert

According to the Mortgage Professional America article Tech buying: Part four – Loan Origination Systems (LOS) by Craig Anderson, lenders should skip the RFP process insisting all answers will have a rosy “sales-spin.”

Anderson maintains that RFPs are old school techniques and are a time-wasting and unnecessary process. “The first thing you need to do is evaluate your current process and see if there are any improvements that can be made,” says Anderson the director of client integrations for Genworth Mortgage Insurance, a provider of mortgage insurance and technology solutions. “With the money you will save on the RFP process, hire an independent consultant to complete a complex evaluation of your current processes.”

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