DES MOINES, Iowa–LenderClose said it has integrated with MeridianLink’s LoansPQ loan origination platform. MeridianLink provides technology services to more than half of the top 100 U.S. credit unions, according to the company. Enabled as an optional feature for LoansPQ users, the LenderClose platform provides API connections to every vendor it takes to approve, underwrite and close a mortgage or HELOC loan, it added.
LenderClose said its solution offers CU lenders access a suite of reports and services – from flood certification and valuation products to title reports and e-recording services. “The result is a streamlined and vastly accelerated underwriting process, an increasingly essential capability for all community lenders,” the company said.
With one vendor, one integration and one invoice, credit union lending teams realize multiple points of efficiency, according to LenderClose.
“Today, community lenders are working with more vendors and fintechs than ever before to meet increased consumer demand for speed and personalization,” said Doug Glagola, vice president, Enterprise Solutions, MeridianLink. “That’s why it’s so important for lenders to have access to vendor aggregators like LenderClose. Unless that information is integrated seamlessly with the systems they already use, it’s incredibly difficult to provide the instant, accurate and reliable experiences members expect. LenderClose’s technical expertise and community lending market connections make them an ideal partner for our growing ecosystem of lending solutions.”
According to the company, the LenderClose/LoansPQ integration means loan officers and processors will have less data-entry tasks and fewer platforms to manage. Forms and other documentation that comes through the LenderClose platform will be automatically uploaded to LoansPQ, saving staff upload and download time. In addition, loan officers will have access to real-time data and reports across both platforms and a digital archive of forms for quick retrieval from anywhere, the company explained.
“One of the most exciting aspects of this integration is that our clients asked for it, and we were able to deliver, thanks in no small part to the big thinkers at MeridianLink,” said Omar Jordan, CEO of LenderClose, a CUSO. “Everyone we’ve worked with at MeridianLink – from the C-suite to the developer team – sees very clearly where the market is headed and what our mutual clients need to be successful.”
“Borrowers today enjoy a great and growing number of options for lending,” continued Jordan. “As competitors shout ‘no paperwork,’ ‘approval in minutes’ and ‘turn-around is less than two weeks,’ consumers hear it, and they expect local lenders to play ball. MeridianLink and LenderClose are helping the nation’s community lenders make the changes they need to do exactly that.”