The Story of Loancrate: Why We Built a New Loan Origination System from Scratch
The Story of Loancrate: Why We Built a New Loan Origination System from Scratch
Why We Had to Build a New Loan Origination System from Scratch
Over the past decade, lenders have poured resources into sleek front-end experiences through borrower portals and mobile apps. However, behind the scenes, most are still running on legacy loan origination systems (LOS) built before online applications even existed.
We realized the problem couldn't be solved with another integration. These systems weren't designed for real-time collaboration, automation-first workflows, or AI-driven decisioning. They were built for a different era: when mortgages were slow, manual, and paper-based (or merely digital versions of paper processes).
After years of trying to fill the gaps, it became clear: these platforms simply can't keep up with modern lending. They couldn't ingest live POS data, power dynamic workflows, or help leaner mortgage teams move faster.
The foundation was broken, so we started over.
Mortgage Tech Debt Is Real and Compounding
Instead of rethinking the LOS, most vendors have tried to modernize through integrations. The idea was to build over old systems with new APIs, third-party plug-ins, and workflow tools.
However, layering modern software on top of outdated architecture hasn’t completely delivered the operational efficiency lenders were promised. Instead, it’s created more complexity: more systems to manage, more points of failure, more dependencies on IT.
Lenders are left managing fragile workflows and overlapping tools, while cost per loan keeps climbing.
A System of Record That Actually Works for You
Legacy LOS platforms weren’t designed to automate; they were designed to digitize. That’s why most still treat the system of record like a static PDF: a digital filing cabinet, not an active tool for underwriting loans.
Repetitive work continues to overwhelm underwriting teams, from chasing down data mismatches to rewriting follow-up emails and managing conditions across tabs and spreadsheets. The manual work isn’t new, but with more tools and rising expectations, it’s even harder to manage.
Meeting today’s expectations means moving beyond digitization. Lenders need systems that consolidate tech debt, streamline workflows, provide automation they can trust, and materially reduce cost per loan.
Why We Built Loancrate From the Ground Up
We didn’t start with a product. We started with the people doing the work, like processors, underwriters, post-close specialists, those deep in the day-to-day grind of loan manufacturing.
We spent time shoulder to shoulder with processors toggling between tabs and underwriters digging through conditions, mapping the real-world friction that other LOS platforms ignored.
Though building Loancrate didn’t happen overnight. Rebuilding a core system like a LOS was harder than we all anticipated. It took months of shadowing teams, years of engineering, and countless iterations to get it right. We believe the outcome was worth the effort.
After years of building, refining, and testing, we rebuilt the system around the way mortgage teams actually work:
A real-time, auditable data model that scales with complexity
Role-based visibility and permissions that balance control and flexibility
Task-driven UI that supports both automation and human decision-making
This wasn’t a facelift. Loancrate was a full teardown and rebuild, starting from the data model up.
An AI-Native Platform Built for Speed, Scale, and Simplicity
Loancrate isn’t just a better UI. It’s a fully reimagined LOS built from the ground up to handle the complexity of today’s loan manufacturing and automate more of it with every interaction.
Automatically classifies documents and extracts key data for conditions
Powers dynamic workflows that adapt to changing conditions
Allows no-code configuration of workflows, rules, and task logic
Supports automated post-close QC reviews in the same unified system
By combining automation-ready infrastructure with clean, configurable design, Loancrate helps lenders close loans faster with greater confidence.
This isn’t just modernization. It’s a new operational model—built to evolve as fast as the industry does.
Why We Had to Build a New Loan Origination System from Scratch
Over the past decade, lenders have poured resources into sleek front-end experiences through borrower portals and mobile apps. However, behind the scenes, most are still running on legacy loan origination systems (LOS) built before online applications even existed.
We realized the problem couldn't be solved with another integration. These systems weren't designed for real-time collaboration, automation-first workflows, or AI-driven decisioning. They were built for a different era: when mortgages were slow, manual, and paper-based (or merely digital versions of paper processes).
After years of trying to fill the gaps, it became clear: these platforms simply can't keep up with modern lending. They couldn't ingest live POS data, power dynamic workflows, or help leaner mortgage teams move faster.
The foundation was broken, so we started over.
Mortgage Tech Debt Is Real and Compounding
Instead of rethinking the LOS, most vendors have tried to modernize through integrations. The idea was to build over old systems with new APIs, third-party plug-ins, and workflow tools.
However, layering modern software on top of outdated architecture hasn’t completely delivered the operational efficiency lenders were promised. Instead, it’s created more complexity: more systems to manage, more points of failure, more dependencies on IT.
Lenders are left managing fragile workflows and overlapping tools, while cost per loan keeps climbing.
A System of Record That Actually Works for You
Legacy LOS platforms weren’t designed to automate; they were designed to digitize. That’s why most still treat the system of record like a static PDF: a digital filing cabinet, not an active tool for underwriting loans.
Repetitive work continues to overwhelm underwriting teams, from chasing down data mismatches to rewriting follow-up emails and managing conditions across tabs and spreadsheets. The manual work isn’t new, but with more tools and rising expectations, it’s even harder to manage.
Meeting today’s expectations means moving beyond digitization. Lenders need systems that consolidate tech debt, streamline workflows, provide automation they can trust, and materially reduce cost per loan.
Why We Built Loancrate From the Ground Up
We didn’t start with a product. We started with the people doing the work, like processors, underwriters, post-close specialists, those deep in the day-to-day grind of loan manufacturing.
We spent time shoulder to shoulder with processors toggling between tabs and underwriters digging through conditions, mapping the real-world friction that other LOS platforms ignored.
Though building Loancrate didn’t happen overnight. Rebuilding a core system like a LOS was harder than we all anticipated. It took months of shadowing teams, years of engineering, and countless iterations to get it right. We believe the outcome was worth the effort.
After years of building, refining, and testing, we rebuilt the system around the way mortgage teams actually work:
A real-time, auditable data model that scales with complexity
Role-based visibility and permissions that balance control and flexibility
Task-driven UI that supports both automation and human decision-making
This wasn’t a facelift. Loancrate was a full teardown and rebuild, starting from the data model up.
An AI-Native Platform Built for Speed, Scale, and Simplicity
Loancrate isn’t just a better UI. It’s a fully reimagined LOS built from the ground up to handle the complexity of today’s loan manufacturing and automate more of it with every interaction.
Automatically classifies documents and extracts key data for conditions
Powers dynamic workflows that adapt to changing conditions
Allows no-code configuration of workflows, rules, and task logic
Supports automated post-close QC reviews in the same unified system
By combining automation-ready infrastructure with clean, configurable design, Loancrate helps lenders close loans faster with greater confidence.
This isn’t just modernization. It’s a new operational model—built to evolve as fast as the industry does.