Yes, that's correct. The LOS is designed to handle various tasks involved in the loan origination process. It typically starts with capturing and verifying the borrower's information, such as personal details, income, employment history, and credit score. The system then analyzes this information to determine the borrower's eligibility and creditworthiness.Once the verification process is complete, the LOS
https://taryafintech.com/what-is-an-los-a-beginners-guide/ generates the necessary loan documents, including the application form, disclosures, and agreements. It also facilitates the collection of any additional required documents, like income statements or property appraisals.