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What Is Loan Origination?

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Management Summary Lenders are using automation to speed and improve loan decisions in a changing market that includes product commoditization, increased competition and increasingly convenience-driven consumers. The automation movement requires investments in loan origination technologies such as credit scoring and credit decision engines. Loan origination is the process of gathering and analyzing the appropriate client data to reach the loan decision. Of the stages in the life of a loan, the most important point is the loan origination as this is where lenders acquire the business. While lenders have automated pieces of the entire loan origination process, many are still depending on manual processes and time-consuming tasks in processing loans through the origination stage. In addition to the lending-specific technology components, such as credit scoring, decisioning and underwriting tools, other technologies crucial to the full automation of the lending process include information management technologies, communications technologies and customer touch points. This Context Overview Report includes an overview of the loan origination market, outlines the various steps and processes involved in closing a loan, discusses the technology components in loan origination for consumer and mortgage loans, addresses the trends in online origination and provides an overview of the vendor marketplace.


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