LendingQB, which provides lean lending loan origination technology solutions, and Cyberlink Software Solutions, which specializes in mortgage lending optimization and development solutions, recently enhanced the companies’ eRAMP bulk loan integration with MERS. The move is expected to drastically cut down on the time lenders spend registering and transferring loan rights.
This enhancement allows for bulk MERS transaction processing for all transaction types and instant loan registration and confirmation in one session, according to a press release. By eliminating the need to register loans one by one to MERS, lenders can see significant time savings and eliminate errors, the release states. In addition to loan registration, confirmation dates for all registered loans along with all three types of transfers of rights will then automatically populate back into LendingQB’s MERS status dates. An optional confirmation report is available to upload into lendingQB’s eDocs.
“It doesn’t matter if these bulk transfers are as few as one loan or thousands of loans,” Lending QB Vice President of Strategy David Colwell said. “Not only does it save lenders time, this automation absolutely removes the possibility of human error in the process, ensuring that lenders can hit their deadlines with no issue.”
“With all the eRAMP versions released since 2003, we are always most excited when we bring new features with immense automation and time savings to our clients,” Cyberlink Software Solutions President Greg Uttal said. “Our technology goal is always more business and less work for our clients. With our integration to LendingQB, that’s mission accomplished.”