Is using a web based loan origination system really better that a PC based system like Byte or Point?
A personal note.. I have been a Point user since the early 90's and have spent hundreds of hours learning how to make it sit up and beg. Custom fields, data extraction, custom reports, making it wide area network usable, fighting to make data secure, etc. I like the application.
With that said I think Point is the best PC based LOS, but it has some major draw backs. Data security is the primary one, along with sharing date between PC's. It's even worse when the PC's are not networked. Just about everyone has faced trying to decide which copy of the data file is the correct one. Just about everyone has felt like shooting their PC at times because of these problems..
Unfortunately data security, compliance, and file sharing are very important when it comes to managing a successful mortgage net branch.
Like many business applications - everything is moving to the web.
Why?
Because there is no software to install or update. Everyone gets to the application via the internet using a login and password for access. Security is easier to manage and it is better.
You no longer have to worry about which copy of the file is correct because there is only one copy. Reporting is centralized even with people at different locations. If your on vacation in the south of France (we can dream) you have access with an internet connection.
There are several application that are a hybrid of PC and web based. All promise results but all seem to have a lot of bugs to work out.
We use Mortgage Dashboard. A 100% web based loan origination system that works.
- No Software to load
- Very tight data security
- Access from any internet connection
- Easy reporting
I always appreciate subscribers and welcome comments and questions.
For more mortgage net branch information visit: NetOriginator.com
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