LauraMac: The Purpose-Built Loan Acquisition Specialist

By Bob Kallio, Principal - Resonance Mortgage Consulting

For years, the technology conversation in mortgage lending has centered around the loan origination system (LOS). For correspondent lenders that focus is too narrow. The complexity in managing a broad loan acquisition workflow requires a dedicated process and system.

LauraMac is not simply another LOS competing for the same job.

LauraMac’s Loan Acquisition System was specifically designed for investors, correspondents and aggregators to evaluate and acquire mortgage assets in the secondary market. Its capabilities include pricing, eligibility, rate locks, document and data management, exception processing, diligence, collateral, settlement and post-closing. 

That changes the technology discussion and challenges the status quo.

LauraMac essentially starts with the question: How do I acquire a mortgage loan efficiently and mitigate risk? rather than: How do I originate a mortgage loan?

That distinction makes LauraMac particularly interesting for correspondent investors making loan acquisition — not loan origination, the center of the technology architecture. The LauraMac advantage comes from a lower cost, lower risk acquisition platform.

LauraMac empowers lenders to take a correspondent loan from submission to purchase with fewer hands-on steps. All within an ecosystem that provides seller onboarding, a seller portal, secondary processing and capital markets integration at a competitive cost.

Its platform also connects to multiple due diligence providers and provides data normalization and aggregation across diligence sources. LauraMac says its acquisition system can provide access to as many as 16 diligence providers. 

The company’s broader secondary-market ecosystem connects its Loan Clearing System, Loan Acquisition System and DataHub to reduce data silos and manual handoffs. 

For an institution buying loans from dozens or hundreds of correspondent sellers, that can be strategically important.

LauraMac’s LAS can function as a stand-alone, end-to-end correspondent platform, or in a component fashion working with and alongside existing LOS’s. Its flexibility is a defining feature. Lender's contemplating adding or changing their correspondent platform should consider the two competing system approaches: the integrated LOS or the loan acquisition ecosystem.

For more information, email renee.magee@lauramac.com.