From some recent discussions, I've come to realize, most mortgage bankers only use about 20-30% of their LOS's functionality. The Loan Origination Systems continue to improve each day. The releases, updates and integrations with business partners are non-stop. Many updates are focused on compliance, but there are other features being built into the LOS's that can help sales, operations, and secondary.
I see most divisions build work-arounds to a process that can easily be streamlined. Others are literally clueless as to the services available simply because nobody sat them down to explain the detailed functionality of the LOS. Over the last few months I've even met a number of bankers who were working in broker-based systems with zero banking functionality. Really? Seriously?
Here are just a few hints that you're likely under-utilizing your LOS:
-Ops department still has racks of files on their desk
-Certain data is manually entered and managed in spreadsheets
-Lock requests and/or file updates rely upon email and phone calls
-Between disclosures and credit/closing packages, you're Fed-Ex bill hit record levels in Q4 '10