RFP Templates for LOC Selection
Loan Origination Software (LOS) System
Selection Tools - Requirements - RFP - Evaluation Matrix
Enable Better LOC Software Selection!
Each category shown below contains many questions about individual Loan Origination features and functions.
| Loan Orgination | |
| Programs Supported | Application Processing |
| Application Entry | Loan Prequalification |
| Credit information Processing | Regulatory Compliance |
| TILARESPA Integrated Disclosure Rules | Global Issues |
| Loan Estimates Processing | Closing Disclosure Processing |
| Construction Loan Processes | Other Laws & Regulations |
| Equal Credit Opportunity Act (ECOA) | Fair Housing Act |
| Home Ownership & Equity Protection Act | Final Rules of 2019 and 2018 |
| Home Mortgage Disclosure Act (HMDA) | HMDA Rule (as of 2018) |
| Secure and Fair Enforcement Change | HELP for Reporting "NOT APPLICABLE" |
| Real Estate Settlement Procedures Act | Truth in Lending Act (TILA) Regulation Z |
| Dodd-Frank Act (DFA) | USDA Guarantee Fee Change |
| ULDD & Delivery Specification | Uniform Loan Delivery Dataset (ULDD) |
| Compliance Reviews | Forms Maintenance |
| Digital Mortgage | Secure & Compliant |
| Loan Options | Online Portal |
| Loan Rates | Automated Underwriting |
| Rules Engine | Risk Factor |
| Loan Summary Report | & Many Other Criteria |
| Account Management | |
| Inquiry Source interfaces | Query Capabilities |
| New Contact & Events | Tracking Activity & Events |
| Contact Maintenance | Contact History Log |
| Contact Activity | |
| Inquiry Management | Inquiry Maintenance |
| Inquiry Qualification | Competitive Information |
| Inquiry Routing | |
CUSTOMER RELATIONSHIP MANAGEMENT (CRM) | |
LOS CRM functions: |
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| CRM Automation Setup | Automated Call Distribution |
| Artificial Intelligence | Dashboards |
| Multi-Currency | Multi-Language |
| Web Site Hosting | Multi-Store |
| Visitor & Traffic Analysis | Out of Stock Products |
| Mobile Apps | General Reporting |
| Requirements Analysis | Drop Shipping Items |
| Predictive Lead Scoring | Saas/Cloud Security |
| Virtual Assistants | Product Page Creation |
| Web Portal | Cloud Configuration |
| Intelligent Self-Service | Temporarily Hide Product |
| Document Management | Cloud Administration |
| Document Capture (Ingestion) | Detail Design Plan |
| Document Retrieval | Event Management |
| Marketing Management | Loyalty Management |
| Quote Processing | Customer Service |
| Planning & Budgeting | Resource Management |
| Sales Order Processing | Help Desk Functions |
| Marketing Tracking | Time & Expenses Tracking |
| Customer Order Entry | Incident Management |
| Email Marketing | Sales Forecasting |
| Backorder Processing | Incident Tracking |
| Warranty Issues | Call Management Features |
| Lead Management | Sales Analysis |
| Campaign Management | Sales Lead Management |
| Trade Promotion | Sales Management |
| Inquiry Management | Intelligent Call Routing |
| Search Engine Marketing | Opportunity Management |
| Contact Maintenance | Interactive Voice Response |
| Fraud Control | Tax Settings |
| Workflow | Implementation |
| Training | ...And Many More |
E-COMMERCE | |
Loan Origination Ecommerce Functions: |
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| Web Site Development Resources | Mobile Apps |
| Ecommerce Dashboards | Ecommerce Apps |
| Saas/Cloud Security | Cloud Configuration |
| Requirements Analysis | Drop Shipping Items |
| Shopping Cart | Detail Design Plan |
| Product Page Creation | Web Portal |
| Site Management Tools | Temporarily Hide Product |
| Document Management | Cloud Administration |
| Cloud Administration | Event Management |
| Implementation | Document Capture (Ingestion) |
| Web Content Management | Document Retrieval |
| Fraud Control | Tax Settings |
| Workflow | Multi-Currency |
| Multi-Language | Web Site Hosting |
| Multi-Store | Visitor & Traffic Analysis |
| Out of Stock Products | Training |
| ...And Many More | |
SYSTEM GLOBAL ISSUES | |
| Correctly configured operating system functions is a key to LOS correctly! | |
| Multiple Companies | User Compatibility |
| Multiple Locations | Userdefines Fields |
| Multiple Currancies | Online Help Issues |
| Multiple Languagies | Process Customization |
| Operating Systems | Software Usability |
| Systen Fault Tolerance | User Insterface |
| Scalability Issues | Document Database |
| Vendor Data Center | User Defined Features |
| General Reporting | Customizable Online Help |
| Service Level Requiorements | Customizable Screenes |
| Service Level Agreements (SLAs) | Field Level Control |
| External System Integration | System Platform Issues |
| Data Export Formats | Software Product Identification |
| Integration Levels | Proposed Product History |
| Web Services Integration | System Functional Categories |
| Web Enabled Functions | Glodal Performance & Scalability |
| Web Site Integration | Data Integration Standards Supported |
| Administration | End User Environment |
| Site Capabilities | Bookmark Data |
| Content Management | Bookmark Analysis |
| Navigation | Workgroup Capabilities |
| Search Functions | Security Measures |
| Workflow | Data Integration |
| Browsers Suported | Integration Development Environment |
| Web Security | Integration Connectivity |
| Cloud Configuration | Metadata Management |
| Business Process Analysis | Wizard Driven Facility |
| Current State Assessment | Metadata Driven Deployment |
| Transition Planning | Change Analysis |
HELP HELP | |
| Help Desk Functions | Help Knowledge Base |
| System Global Issues | Client Access |
| General Reporting | Email Integration |
| Help Desk Reporting | ITIL Configuration Mgmt |
| Service Level Requirements | Client Maintenance |
| Service Level Agreements | Contact Maintenance |
| External System Integration | Inventory - Asset Mgmt |
| Time and Expense Tracking | Cloud Configuration |
| IT Asset Inventory | Document Management |
| Software Usability | Asset Service Tracking |
| Web Functionality | Agent Issues |
| Incoming Call Functions | Business Continuity Plan |
| User Defined Features | Call Processing |
| Cloud Administration | Transition Planning |
| Escalation Capabilities | SaaS/Cloud Security |
| Client Web Interface | Help Desk Mobile Apps |
| User Compatibility | Web Enabled Functions |
| Help Desk Dashboards | Help Desk Staff Access |
| Many More... |
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In-Depth Loan Origination RFP Functionality - Obtain Meaningful Responses that are Easily Compared and Evaluated. This RFP Template INCLUDES the following capabilities:
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All Vendor Response Evaluation & Comparison tools listed below are INCLUDED with this Loan Origination software RFP. Evaluate Proposed Software Based on Suitability, Quality, Supportability, and Financial Impact.
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The Supporting Documents below are INCLUDED with this Loan Origination Software RFP:
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COVER LETTER SAMPLES - Make the task easier with this LOS LOS RFP cover letter template collection. Choose from Letter samples designed for all events, such as "RFP Response Request", "Intent to Respond", "No Intent to Respond", "RFP Change Enclosed", "Proposal Rejection" "Finalist Selection", and " Best & Final Offer Request" to meet your unique LOS LOS system needs. |
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FULL VERSION of the RISK ASSESSMENT MATRIX CHECKLIST focused on LOS LOS system acquisition and implementation projects for working sample "Click Here" |
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BPR / BPE / WORKFLOW Processing Checklists - Excel-based template for mapping the current "AS-IS" state of an existing LOS LOS business process down to the data element level, a time-saving organizer when developing the new "TO-BE" state, or when trying to determine what is required to implement a new process, or when preparing for data conversion. |
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The OPTIMIZED RFP GUIDE. Designed to be viewed in a browser off-line, this document outlines the best procedures for creating custom LOS LOS RFP questions. Included or Sold Separately |
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The LOS LOS SOFTWARE CUTOVER CHECKLIST Helps Streamlines Implementation! Included or Sold Separately |
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MS Word DOCUMENTATION describing the organization and usage of the LOS LOS RFP and Evaluation/Comparison matrices. |
(See bottom of this page for pricing information.)
A Detailed & Comprehensive List of:
Identify BOTH LOS Automation LOS Software Features Availability and Deliverability
Unlike other Loan Origination RFP templates that try (and fail) to gather useful solutions data about complex LOS system features, RFP Masters are not constrained to the use of summary-level "Yes" or "No" answers. This RFP Master™ uses a Feature Support Matrix™ (FSM) that identify BOTH feature AVAILABILITY and DELIVERY Method. This LOS RFP Master function is useful during both the LOS software selection AND the system implementation phases of large projects because it enables effective Earned Value Management through detailed cross-referencing of usable LOS software functionality and vendor invoicing.
Determine the Risk & Supportability of Proposed
Effectively Manage Implementation
Enhancement Cost Tracker
This LOS RFP system template provides an "Enhancement Cost" column for cross-referencing vendor invoices with the estimated cost of each custom custom script and/or source code modification proposed by the vendor. This makes the LOS System automation LOS RFP an ideal tool for managing vendor invoices effectively. The uses of this are many: preventing payments to vendors from exceeding usable system progress, preventing vendor over-billing, and prevents proposed tasks from being omitted, and as an implementation audit tool.
WEIGHTED GRADE POINT SCORING
These comprehensive and CUSTOMIZABLE Weighted Grade Point Scoring functions are used to determine how well MATCHED a vendor proposal is to your specific prioritized requirements.
Workflow Topics Included.
The ability of the proposed LOS software to successfully integrate with existing business process workflows, or implement new workflows, is critical to a achieving the high productivity increases and ROI expected of the new LOS system. This software RFP Master examines all pertinent Workflow features in detail.
Vendor Response Input Validation.
Vendors must answer each RFP question by choosing from a pre-defined list of possible responses. See below for an example of this drop-down list. This forces all vendors to respond to each LOS software question in a consistent, standard manner. Eliminates the days of time typically wasted trying to compare the inconsistent or incomplete vendor responses obtained by using traditional, non-quantitative RFP questions! Ensures vendor proposals are easy to compare and evaluate!
Color-Coded, "Apples-to-Apples" Comparison of Proposed Systems
Evaluation Ratios
Use an extensive set of ratio calculations to compare Loan Origination vendor proposals quickly and efficiently.
Weighted Grade Score Graph
Compares the Weighted Grade Point Score calculated for each proposed LOS system. This is calculated as follows: The Loan Origination vendor response to each RFP question is assigned an unweighted "raw" score. This raw score is then multiplied by the weight factor you entered previously (default = 1) for that LOS System enterprise resource planning software RFP question to calculate the weighted score for each response. All of these individual scores are then totaled for use in this comparison. This score is essentially a measure of how well a Loan Origination software system fits your business and software needs, prioritized by the weight (importance level) you assigned to each question in the RFP. In essence, this score measures the SUITABILITY of each proposed LOS software system to your overall requirements. . NOTE this score measures just software functionality, and does not include any measure of vendor background, expertise, support, or programming ability.
Feature Delivery Method Comparison:
An analysis of how each Loan Origination vendor is proposing to deliver the system feature/function contained in their Loan Origination proposal. The graph below shows the percentage that is Fully Supported "out-of-the-box", the percentage to be done via Report Writer, a Configuration Parameter, or Third-Party add-in, versus the percentage to be done via Custom Coding (Scripting / Programming). This information is very useful in terms of identifying RISK, since a Fully Supported (and tested) Loan Origination feature presents far less risk than that same Loan Origination feature done as a "custom programming" task. Also, see the Supportability Index, which sums up these detail risk factors.
LOS Supportability Index Graph:
The Supportability Index is a forecast of how much Loan Origination management software support and maintenance may be required to keep each proposed software system running at full potential over it's lifetime. This score is determined by how much custom coding is required to implement the proposed Loan Origination software, and which business processes depend on the customized software.
Overall Comparison Graph:
This graph compares both the Weighted Grade (Suitability) Score, Supportability Index, and the Vendor Capabilities Profile side-by-side for easy reference. It is important to see how much custom coding is in a proposed Loan Origination system that also has a high Weighted Score, along with the Vendor Profile. The more custom code, the higher the risk posed by that Loan Origination system. Therefore, the more custom coding, the more expertise and capabilities a vendor should have.
Vendor Profile Score Graph:
The backgrounds, expertise, capabilities, and certifications of each vendor is obtained in the Vendor Global Issues section of the Loan Origination RFP. The LOS vendor responses to this section are totaled separately from the software functionality topics, and this data is used to calculate the "Vendor Profile Score". The higher the score, the more CAPABILITIES a vendor is probably going to be.
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You may also be interested in an RFP Template for:
LOS software Requirements Checklist with Fit-GAP Analysis.
Used By These Great Companies & Many Others - Learn Why!
Return to the TOP of the LOS Automation LOS Software RFP Page.
ALL the LOS features described above, i.e., everything needed to accurately identify LOS Automation Software user needs, quickly determine Loan Origination system requirements, prepare and distribute an RFP, compare & evaluate vendor RFP responses (proposals), and select Loan Origination software correctly for your organization's needs, are included in each RFP Template!
All content about RFP template, Request for Proposal template, LOS automation LOS software requirements, software selection templates, RFI/RFP examples, Loan Origination software selection tools, example RFP, selection guide, and LOS System LOS evaluation tools are:
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Loan Origination RFP Template Master, Demo Masters, Example RFP
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