MortgageFlex Systems Inc., Jacksonville, Florida, announced that 1st Source Bank, South Bend, Indiana, has purchased the LoanQuest[TM] WebRegistration technology from MortgageFlex for its wholesale brokers and retail loan officers' access to the LoanQuest LOS.
1st Source Bank is a long-time MortgageFlex client through its mortgage loan division, which was formerly known as Trustcorp Mortgage Co. The bank has been using the company's LOS, the Residential Lending System, since 1999, explained Debra Bass, vice president, 1st Source Bank's Mortgage Loan Services.
"WebRegistration provides our remote brokers with real-time product and pricing directly from the loan origination system," said Bass. "This is invaluable with the vast number of mortgage products on the market today."
LoanQuest WebRegistration is a Web-based point-of-sale application that enables brokers to upload a loan file electronically from their own systems or enter a loan application on the site. Brokers can price, lock, and then get an automated underwriting recommendation directly from the LOS.
All rates originate from the LOS and are sent...