New Features Added to Loan Producer® 7.80 Release

There are some incredible new Loan Producer® features coming out in LP, version 7.80, which is scheduled to be released in November. The FICS® design and programming departments have made huge strides in automating business logic and workflow in the loan origination software system, automating communication with users, as well as notifying users when other users are in the same loan.

The most noticeable feature is the new module, ABE (Automated Business Engine). ABE utilizes role-based business logic and status triggers to kick off automated business rules. When a user manually changes a status code, or when the status code changes due to an automatic update, then automated rule sets kick in. Loans can be automatically advanced through a range of status codes, and ABE performs checks and balances along the way. Each time the status is updated, a memo is created that will be sent to the users in charge of advancing the loan through each stage of the loan process, including: processing, underwriting, closing, funding, secondary marketing, etc.

FICS is also working on enhancements to not only Loan Producer, but also to Xcluso® and LPOnline®.  Enhancements include ordering docs from Xcluso and a more robust borrower communication in LPOnline. These changes will also include the ability to upload documents such as paystubs or bank statements after loan submission into Loan Producer. These are just a few of the enhancements you will see coming for our web products.

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