Fix and Flip support is here

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.