RFP Templates for LOC Selection Request for Proposal RFP Home

Loan Origination Software (LOS) System

Selection Tools - Requirements - RFP - Evaluation Matrix

Accurate LOC System Requirements
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Select Loan Origination Software Successfully

A State-of-the-Art LOS System RFP and Requirements Toolkit that lists everything needed for success of a new LOS system! View Feature Groups
Comprehensive Loan Origination Software features insure accurate identification of the BEST LOS system for your organization specific needs:
  • 2,627 Unbiased LOS System Features and RFP Requirements - No Vendor Influence or Connection - including:
  • Online loan applications
  • Variable underwriting criteria
  • Comprehensive analytics
  • Built-in, Online Support
  • Security and Compliance
  • Integrations with Third-Party Data
  • Document Management Features

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:

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:

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...

Loan Origination RFP Templates

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This RFP Template and Evaluation Toolkit enables you to review the following loan origination software features and functions to select the best system based on your firm's needs:
See the above in more detail here: Expanded Features Descriptions.


 

Select LOS Software Accurately

Designed specifically for selecting Loan Origination software systems for LOS System automation, the template-based tools below can save time & money during each step needed to successfully choose LOS software.  Quickly select the best Loan Origination software system by using these:
RFP Template Capabilities for LOS System Automation LOS Software EVALUATION and COMPARISON Template for LOS System Automation LOS Systems

Actual screens and questions from this LOS RFP template are shown below to illustrate how it enables you to easily collect the unique metrics needed to successfully identify, select, acquire, and implement the PSA enterprise resource planning (LOS) software solution best suited to your organization's needs.
 
  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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IDENTIFY FEATURE AVAILABILITY & DELIVERABILITY. Unlike other LOS RFPs, Infotivity enterprise resource planning RFP Masters automatically collect the information needed to identify BOTH the AVAILABILITY of software features, and their DELIVERABILITY, i.e., HOW those features will be delivered. This Loan Origination RFP collect information which can be used to predect more reliable LOS implementation schedules.

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Determine RISK and SUPPORTABILITY. LOS RFP Masters automatically evaluate vendor response data collected to quantitatively determine the SUPPORTABILITY INDEX ™ of each proposed LOS System Automation enterprise resource planning software system. This index ranks the potential support problems inherent in each proposal. Accurately compare the amount of ongoing support needed to keep each proposed Loan Origination software system up and running. Measure the true impact of each system on your business over the long term.

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ENHANCEMENT COST TRACKING - This LOS System RFP template feature provides a facility for cross-referencing the cost of specific custom programming and/or scripting tasks with vendor invoices. This enables the RFP to become a very useful implementation cost management/audit tool. Ideal for Earned Value Management (EVM).

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CUSTOMIZABLE WEIGHTED GRADE SCORING - (automatically calculate suitability to unique company needs!) Highly flexible weighted grade score based on user-defined weights down to the detail row and response level is calculated for each RFP question criteria. This user-defined, customizable weighting allows vendor RFP responses to be evaluated based on your company's specific needs priorities. Calculate weighted scores by department, by workflow process, by application, or by activity to calculate a score that reflect the true value and impact of a proposed Loan Origination software system.

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WORKFLOW TOPICS ensure the proposed enterprise resource planning software can be fully integrated and utilized to enhance business procedures at all levels of the enterprise.

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VENDOR RESPONSE VALIDATION saves time and effort, and reduces errors, when evaluating vendor software proposals. View example here.

EASILY CUSTOMIZED to meet your unique enterprise resource planning system needs, using basic Excel techniques.

PROVEN MS EXCEL TECHNOLOGY. Everybody already knows Excel. Save time & effort across the board!
No installation, no learning curve.


  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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    "APPLES-to-APPLES" FEATURE COMPARISON of vendor RFP responses (proposals) is assured by extensive use of quantitative RFP questions and full vendor response validation. Compare proposed Loan Origination system software features side-by-side faster and more accurately with the fully automated Color Comparison Chart matrix included with this RFP at no extra charge. View a typical comparison here.


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    "Loan Origination Response Evaluation Ratios (scores) indicate how a vendor is planning to provide the proposed solution, e.g. the pros and cons of a vendor proposal from a practical "is it doable?" perspective. See HOW a vendor is planning to address each of your requirements, and just how reliable it really is.. View a typical evaluation ratios here.


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    RESPONSE QUALITY ANALYSIS RATIOS - SIDE-BY-SIDE COMPARISON - (Compare proposal feasibility side-by-side!)

Compare the "doability", i.e., the feasibility, of vendor proposals compared to each other in detail. See HOW each vendor is planning to provide the solution to your needs, and if that solution is really viable.


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DETAILED FINANCIAL ANALYSIS RATIOS provide valuable insight into how proposed software will impact your organization immediately and over the long term. View and compare side-by-side key financial ratios such as Payback Period, Present Value (PV), Net Present Value (NPV), Internal Rate of Return (IRR), and others. View financial analysis ratios here.


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    AUTOMATED WEIGHTED GRADE POINT SCORING is a quantitative measure of how well a proposed Loan Origination system matches up to your business priorities. This graph compares the overall total scores for each proposed system. This Score is based on all Loan Origination vendor responses except Pricing and Vendor Background. View sample 3-D Bar Chart comparison here.


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    Feature Delivery Methods This graph compares HOW each LOS vendor is planning to deliver the proposed LOS system for PSA. The bars show how much of each competing system is going to be delivered Fully Supported "out-of-the-box", how much will be delivered using the Report Writer, a Configuration option or 3rd Party product, and how much is dependant on Custom Programming & Scripting. The scores used in this Loan Origination comparison are based on responses to Loan Origination system questions only, i.e., no vendor, pricing, or support responses are utilized. View sample 3-D Bar Chart comparison here.


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    Overall Comparison This graph compares the total Weighted Score of each proposed Loan Origination system along with its Supportability Index and associated Vendor Profile. Use this when assessing the RISK of a proposed Loan Origination system and whether or not the LOS system can indeed be implemented by the proposing Loan Origination vendor successfully. View sample 3-D Bar Chart comparison here.


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    Vendor Profile Scores This graph compares a score measuring the background, expertise, capabilities, and other data collected in the Vendor Global Issues section of the LOS LOS RFP. The Vendor Profile Score provides a way of assessing the Capabilities PROFILE of a proposing Loan Origination vendor. View sample 3-D Bar Chart comparison here.



  The Supporting Documents below are INCLUDED with this Loan Origination Software RFP:

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.
FULL VERSION of the RISK ASSESSMENT MATRIX CHECKLIST focused on LOS LOS system acquisition and implementation projects for working sample "Click Here"
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.
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
The LOS LOS SOFTWARE CUTOVER CHECKLIST Helps Streamlines Implementation! Included or Sold Separately
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:

LOS Automation Loan Origination System Features

      Thousand plus of pre-defined LOS software RFP criteria ensure no important business requirements or software features "slip through the cracks".  All are in a quantitative format that guarantees vendor responses will be meaningful, consistent, and easy to compare. All questions are professionally prepared by application EXCEPTION CASE software functions required.

LOS System automation LOS table of content


 

      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.

Project costing sample questions


 

      Determine the Risk & Supportability of Proposed

LOS Software Solutions for PSA

Unlike other RFP templates, an LOS software RFP Master template can illustrate potential support problems (and risk) inherent in vendor software proposals. The Feature Support Matrix (FSM) used in each RFP Master categorizes the inherent risk posed for each criteria, and uses that information to calculate the SUPPORTABILITY INDEX for each vendor RFP response. For example, a feature delivered "out of the box" FULLY SUPPORTED is less risky than one delivered through custom programming, even if the programming is free. This RFP Master function is useful during both the software selection AND the implementation phases of a large LOS system because it enables effective Earned Value Management through detailed cross-referencing of usable software functionality and vendor invoicing.

RFP sample of questions taken from the Loan Origination project management section


 

      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.
 

RFP sample of questions taken from the Loan Origination project management section


 

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.

typical workflow criteria questions for LOS System enterprise resource planning


 

      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!

career portal sample questions from the LOS RFP Master template


 

      Color-Coded, "Apples-to-Apples" Comparison of Proposed Systems

LOS Software Comparison for PSA

      These comparison matrices automatically change vendor response cell background color to GREEN, YELLOW, or RED, to reflect how favorable each response is to your needs! Compared to the tedious task of reviewing hundreds of mono-color Yes/No answers, these colored responses allow problem areas to be spotted more easily, and risk assessment is made much more accurate. All required response comparison matrices are included and ready-to-use! Quickly and easily compare LOS software system proposals side-by-side, feature by feature, in detailed comparisons you control! Keep your project on-schedule and under-budget.

sample of vendors LOS answers side by side to compare in the matrix


 

      Evaluation Ratios

      Use an extensive set of ratio calculations to compare Loan Origination vendor proposals quickly and efficiently.


 

Evaluation Ratios Side-by-Side Comparison

This scorecard uses an extensive set of ratio calculations to compare vendor proposals quickly and efficiently.  High RFP scores can be lifted by a large number of customization or 3rd party scores.  Due to this, it is important to see HOW each proposed system has been set up to perform key processes.  This could insure a very complete LOS system choice!


 

Cost Savings Analysis.

COST SAVINGS ANALYSIS - Calculates and illustrates:
  • Yearly Savings
  • Yearly Maintenenc
  • Payback Period
  • Return on Investment (ROI)
  • Internal Rate of Return (IRR)
  • Discount Rate
  • Net Present Value (NPV)
  • B/C Ratio
  • IRR


 

      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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  More Details

Loan Origination SYSTEM REQUEST for PROPOSAL (RFP) and VENDOR RESPONSE EVALUATION TEMPLATES
Download one Zip file containing all the tools listed above, summerized below:
  • Unlimited Vendors and Staff Users
  • ALL 2,627+ Request for Proposal Criteria
  • Requirements Checklist with Fit-GAP Tools
  • In-Depth Request for Proposal
  • Weighted Grade Scoring
  • Supportability Index Scoring
  • Side-by-Side Response Comparison with Heat Map
  • ALL Vendor Response Evaluation Ratios
  • ALL Financial Analysis Ratios
  • FULL Response Evaluation Scorecard
  • ALL 3-D Bar Chart Comparison Graphs
  • FULL Optimized RFP Guide
  • ALL BPR/BPE Workflow Checklists
  • FULL Cutover (Go Live) Checklist
  • ALL Documentation
  • View all templates and tools details above
  • FREE SUPPORT - Telephone/Email

$599.00 US         (Secure Checkout)


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LOS LOS software selection


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LOS software Requirements Checklist with Fit-GAP Analysis.


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