With our 19.80.9 release, now generally available, we have introduced front-to-back support for fix and flip / rehab loans in the LMS product family. This segment of the market has been fast-growing in recent years, with many loan aggregators looking to add rehab and bridge loan product to their closed loan purchase programs.
- Our out of the box loan database schema has been extended to capture unique loan characteristics such as construction draws and holdbacks
- Fix and flip programs can be modelled in LMS and locked in Lms.Connect
- New draw requests can be entered in LMS.Ops
- Requests can be manually entered, uploaded, or pulled in from servicer files
- Draw review and approval with supporting document upload is supported
- P&I forecasting and reconciliation calculations have been extended to handle draw activity
- Draw transactions and daily interest accruals have been updated to handle draws.
Contact your SSI Client Services manager for more information on this and other upcoming features.