Looking for an easier way to manage the loan process? A cloud based loan origination system can help you streamline your workflow and automate manual tasks, making it easier to stay organized and on top of every task. Get up to speed quickly with our comprehensive guide on this powerful tool!

what is a loan origination system

A loan origination system (LOS) is a cloud based platform that automates the loan process to help streamline operations, make processes more transparent, and reduce error rates. It integrates with other systems and provides efficient management of data throughout the entire loan lifecycle from borrower selection to closing and servicing. Most LOS also provide built-in compliance checks as well as tools for reporting and analytics.


A cloud based LOS enables great flexibility as it is ‘anywhere, anytime’ accessible and provides organizations with a centralized system of record. This scalability allows businesses to quickly add new loan products without having to manually wait for a software update or version upgrade. With cloud based LOS, companies can swiftly customize their workflow process while still ensuring data integrity and accuracy. By minimizing manual processes and eliminating paperwork, a cloud based LoS helps lenders increase ROI and improve the customer experience. In addition, by consolidating data within one system, information is easier to access resulting in time savings when running reports or issuing loans.

Understand the Advantages of Cloud Based Loan Origination Systems

advantages of loan origination systems

With a cloud based loan origination system, businesses can benefit from improved efficiency, productivity, and accuracy as well as greater cost savings. Additionally, cloud based platforms are more secure and up to date since they are always keeping up with the latest security measures and features. Furthermore, they have built-in compliance checks which allow lenders to create compliant loan processes without worrying about staying abreast of changing regulations.


cloud based loan origination systems also offer access from anywhere with an internet connection with secure, real-time data and document sharing. This allows lenders to invite partners or borrowers securely into the platform for faster and easier loan processing. Additionally, cloud based systems provide easily customizable templates and workflows to streamline business processes such as collecting documents, managing tasks, and coordinating data. The result is more efficient customer onboarding and a better overall customer experience.

Understand the Benefits of Automating Your Loan Process

benefits of automating loan process

Automation provides a number of benefits to your loan process including faster time-to-decision, improved accuracy and reduced manual errors. Additionally, automation makes it easier to track borrower history and analyze trends for better decision making. As a result, you can cut down processing times and be confident that each loan is accurately assessed.


Cloud based loan origination systems are designed to automate and streamline the entire loan process from origination to servicing. The system can assign each borrower their own portal for uploading and managing documents, allowing for faster processing time without sacrificing security. Additionally, cloud based software eliminates the need for manual file transfers and reduces paperwork by electronically capturing client information such as credit scores, residence address, bank statements and more. This reduces time spent on document collection and review, resulting in more efficient operations.


As a lender, having the right software in place can mean more efficiency and better decision making. Automation allows you to process each loan faster with fewer manual errors, while also giving you instant access to data. This can reduce cycle times and make it easier for lenders to assess risk exposure and make solid investments. Borrowers will benefit from streamlined operations and greater transparency throughout the entire lending process. They can take advantage of secure document uploading portals, automated document transfers and e-signing capabilities for an improved borrowing experience. Ultimately, cloud based solutions are paving the way for efficient, accurate and convenient loan origination.

Manage Data Securely with Cloud Computing Technology

manage data securely

With a cloud based loan origination system, your data is securely stored in the cloud, making it instantly accessible whenever you need access. Additionally, you can also rest assured that all of your data is protected with secure encryption protocols, ensuring that only authorized users have access.


Cloud computing makes it easy to keep track of data no matter how much is stored. With a cloud based loan origination system, you can easily access all customer information from anywhere in the world. You can track changes to applications, monitor progress, and share data with teammates or other departments quickly and securely. The cloud also offers additional advantages like scalability for sudden influxes in customer productivity levels and automated updates of the latest security patches and features. With these features, businesses can be sure that their customer’s data stays safe while they remain ahead of the curve when it comes to loan origination capabilities.

Know Your Goals and Pick the Right Loan Origination System

know your goals

It’s important to take your time in deciding what type of loan origination system is best for you and understanding the specific features that will be most beneficial for your particular needs. Ask yourself questions such as what features do you need, how often do you need updates, and how secure do you want it and make sure to check the reputation of the company. You’ll also want to look into whether the loan origination system can integrate with other systems such as accounting or CRM software.


When you’re looking for a cloud based loan origination system, pay attention to what features it provides and if they suit your needs. Some key features include customizable forms, secure data storage, automated workflow, and integration with third-party software such as accounting or CRM systems. You’ll also want to check the cost of maintenance, payment options, and customer support availability. Finally make sure that loan origination system is hosted securely in the cloud and complies with all privacy laws and regulations.

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