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SLK Global Solutions, a business transformation enterprise offering technology platforms and solutions for the mortgage and financial services industry, has announced its latest offering, LoanAccel, an origination support solution that helps underwriters provide conditional approvals within hours.
"It's amazing. We've seen 67 percent increase in underwriting efficiency for one of our clients," said SLK Global Senior Vice President - Mortgage Nate Johnson. "Lenders today face heightened competition fueled by new business models, limited housing inventory, and volatile market conditions. This is compounded by a time-consuming, friction-filled, and an expensive origination process. And let's not forget rising borrower expectations. LoanAccel strikes the perfect balance between organizational goals and market demands. By adding technology to critical origination processes, LoanAccel increases productivity, cuts cycle time and reduces costs, but without changes to the lender's LOS technology platform."
"However, we do understand that technology alone is not the answer to a successful mortgage experience," Johnson said. "With LoanAccel, several parts of the process are strengthened with real time communication workflows to help loan officers and processors communicate faster with borrowers."
"LoanAccel acts as a catalyst to a lender's overall growth," said SLK Global Solutions America President Alok Datta. "It does much more than just improve operational cycle time. For example, LoanAccel has improved a lender's pull through to 17.6 percent higher than industry averages and reduced the time to fund substantially."
"We as an organization are committed towards driving measurable business outcomes to our clients," Datta added. "LoanAccel has further strengthened our motive. We are extremely happy about LoanAccel's recent achievement and are confident that this solution will produce the competitive edge that lenders seek today."