in Headlines, journal, News, Technology May 29, 2019 288 Views Cloud Technology Developed for Loan Applications Using AI and rules engine, PerfectLO assists borrowers in completion of the loan application and then builds a smart checklist for them. Secondary and tertiary level questions that do not live on a 1003 are presented to borrowers through a unique, unintimidating approach. LendingPad LOS will then import completed applications automatically so that MLO’s and processors use the information to complete the loan process through closing.Both systems are cloud-based, which allows loan officers to easily work remotely. Both products are built by former mortgage executives who understand where the pain and slowdowns happen on the front and back end of the loan process.”We both understand technology and built this integration together to allow our mutual clients to focus on mortgages and give them the ability to spend more time selling and the technology to close loans faster,” said Derek Malila, President of PerfectLO.”LendingPad is proud to be at the forefront of lending technologies by working with powerful platforms like PerfectLO to enhance the loan origination process,” said Wes Yuan, LendingPad’s Managing Director. “Our mutual customers will enjoy LendingPad’s award-winning cloud-based LOS to streamline lending operations and PerfectLO’s comprehensive suite of Point-of-Sale tools for borrowers and originators.”The Virginia-based PerfectLO developed an interactive questionnaire that finds every detail through the loan process. It provides a detailed document checklist to the borrower based on their answers, text/email milestone notifications to clients and agents, and an easy to read document for the LO with all of the borrower’s answers. A Document Center for securely downloading and uploading documents between the Borrower and LO is also included. PerfectLO works in every language and queues up the questions in the borrowers preferred language.Residential mortgage professionals created LendingPad’s innovative LOS to help lenders make better lending decisions, provide exceptional user experience, and enhance individual originators’ ability to succeed. Leveraging a cloud infrastructure, LendingPad offers origination features that streamline the origination process while lowering the total cost of mortgage lending.