CoreLogic (CLGX) released a third-party originator portal that allows correspondents and wholesale brokers to upload multiple loans in a bulk transmission to an enterprise lending system.
The portal was developed by CoreLogic Dorado. TPO Portal was designed to be used with the existing ChannelMaster Enterprise Lending System but also adapts to any existing ELS.
It allows clients to add information including documents needed to validate loan program eligibility and pricing, view a loan’s pricing history and refresh loan data. Once loans are submitted, the portal helps users manage the loan pipeline and resolve open conditions. Checklists can be created to verify loans and to generate conditions when a loan shows a failed checklist item.
“TPO Portal is all about speed,” said Rob Carpenter, vice president of technology for CoreLogic Dorado. "TPO Portal’s intuitive and simplified communication tools provide a top-down view of traffic, down to the loan-detail level. By increasing oversight and control, more loans can quickly move through the system.”
Rollout of the portal is under way with select CoreLogic Dorado clients, including Fifth Third Mortgage Co., a subsidiary of Fifth Third Bank (FITB).
“We plan to use TPO portal as part of a new and improved processing solution for our broker and correspondent lending channels,” said Bob Lewis, president, Fifth Third Mortgage Co. “This technology will be instrumental in achieving our growth goals with clients in this channel.”