Introduction
Mortgage brokers today are leveraging Mortgage Broker LOS (Loan Origination Systems) to streamline their workflows, improve operational efficiency, and provide a better experience for their clients. With several systems available, brokers must choose a platform that best suits their needs and helps them stay competitive in the market.
In this article, we’ll explore how Lender’s Optimus, Encompass, Arive, and Roostify compare. Each of these Mortgage Broker LOS solutions offers unique features, so understanding their strengths and weaknesses will help brokers make an informed decision for their business.
1. Lender’s Optimus: The All-In-One AI-Driven Solution
Optimus by Lender is a comprehensive Mortgage Broker LOS that integrates multiple essential components, including Point of Sale (POS), Loan Origination System (LOS), and CRM into one powerful platform. Designed with automation in mind, Optimus uses AI to streamline tasks, reduce errors, and improve overall workflow efficiency.
Key Features:
- AI-Powered Automation: Automates many aspects of loan origination, such as document collection and borrower task management.
- Real-Time Pricing Integration: Offers integration with Optimal Blue Loan Sifter, providing real-time pricing from multiple lenders directly within the platform.
- User-Friendly Interface: Intuitive design that’s easy for brokers to learn and use, enhancing both productivity and borrower experience.
Why Brokers Love It:
Optimus provides a seamless experience, allowing brokers to handle everything in one place. With advanced automation and real-time pricing, it significantly improves efficiency while providing borrowers with transparency and ease.
2. Encompass by Ellie Mae: The Industry Standard for Large Brokers
Encompass is an established player in the mortgage industry, widely known for its robust and scalable Mortgage Broker LOS. It’s especially favored by larger brokers who need a comprehensive platform capable of handling high loan volumes and complex workflows.
Key Features:
- Full Loan Automation: Automates the entire mortgage process from application through closing.
- Customizable Workflows: Highly customizable, allowing brokers to tailor the system to their business needs.
- Third-Party Integrations: Strong integrations with other vendors, including credit bureaus, compliance tools, and more.
Why Brokers Love It:
Encompass is powerful and flexible, making it a go-to solution for brokers handling large volumes of loans. However, its complexity and cost might be prohibitive for smaller brokers or those just starting out.
3. Arive: Modern, Mobile-First Mortgage LOS
Arive is a newer Mortgage Broker LOS that emphasizes simplicity and mobile accessibility. It’s designed with modern brokers in mind, focusing on ease of use, real-time collaboration, and fast loan processing.
Key Features:
- Cloud-Based Platform: Arive is cloud-based, meaning brokers can access it from anywhere at any time, allowing for greater flexibility.
- Streamlined Workflows: Simplifies the mortgage process with less complicated workflows that still ensure compliance and efficiency.
- Mobile-First: A fully mobile-responsive platform, making it easy for brokers and borrowers to manage the mortgage process on-the-go.
Why Brokers Love It:
Arive’s simplicity and mobile-first approach make it an excellent choice for brokers looking for an intuitive, easy-to-use Mortgage Broker LOS. However, it may lack some of the more advanced features that other systems, like Optimus and Encompass, offer.
4. Roostify: Focused on Borrower Experience
Roostify is another popular Mortgage Broker LOS that focuses on borrower engagement. Known for its sleek, mobile-friendly design, Roostify enables brokers to create a better borrower experience by improving transparency and communication.
Key Features:
- Collaborative Tools: Enables brokers, loan officers, and real estate agents to collaborate easily within the platform.
- Borrower-Facing Portal: Borrowers can track their loan’s progress, upload documents, and communicate with brokers through an intuitive portal.
- Mobile Accessibility: Designed to be used seamlessly on mobile devices, making it easy for borrowers to engage with the mortgage process.
Why Brokers Love It:
Roostify excels at improving borrower communication, but it requires integration with another LOS for full functionality. It’s best suited for brokers who want a platform focused on borrower engagement and collaboration.
Key Differences: Comparing Mortgage Broker LOS PlatformsFeatureLender (Optimus)EncompassAriveRoostifyCore FocusIntegrated POS, LOS, CRMEnd-to-End LOS AutomationSimple, mobile-first platformBorrower engagementReal-Time PricingYes (Optimal Blue)Yes (Requires Integration)NoNoAutomationAI-powered, full automationFull end-to-end automationModerateLimitedCustomizationHighly configurableHighly customizableSimple, limitedLimitedMobile AccessibilityYesYesYesYesComplianceBuilt-in compliance toolsComprehensive complianceBasic compliance featuresBasic compliance featuresConclusion
Choosing the right Mortgage Broker LOS depends on the specific needs and size of your brokerage. Optimus by Lender stands out for its all-in-one platform, advanced automation, and real-time pricing. If you’re a larger broker handling high volumes, Encompass offers powerful, customizable workflows and full automation. For brokers who prefer a simple, mobile-first experience, Arive is a solid option, while Roostify excels in enhancing borrower engagement and communication.
Each of these Mortgage Broker LOS platforms offers its own unique advantages. By assessing your priorities—whether it’s automation, borrower experience, or scalability—you can choose the system that aligns with your business goals and enhances your ability to serve clients efficiently.
