Mortgage Cadence, an Accenture company, has released version 4.0 of its Mortgage Cadence Platform (MCP) loan origination system (LOS).
The company launched MCP in 2021 and then rolled out two significant updates in 2022 and 2023.
With this fourth milestone release, Mortgage Cadence changed the frequency of new releases with the goal of allowing lenders to implement new updates immediately or later. Leaders said this approach drives greater user adoption and eliminates disruptions that software updates may have caused in the past.
“Version 4.0 begins a new way of doing business that allows us to meet our customers where they are, put a higher value on their time and energy, and better support their growth,” Seth Hooper, executive vice president of product management for Mortgage Cadence, said in a release. “We have made significant investments in automation and quality assurance over the past two years, and it shines through in MCP 4.0.”
MCP 4.0 includes expanded functionality such as new document management and data extraction features as well as updates to ensure compliance with the latest government-sponsored enterprise (GSE) requirements. It will also debut the first Limited English Proficiency (LEP) integration of its kind with Talk’uments, a digital language technology provider that assists lenders by providing personalized, accurate loan documents and educational materials to loan applicants in their native language of Spanish or Chinese. More language choices will be offered in the near future, the company said.
The integration allows MCP to send loan data and borrower information to Talk’uments, which then invites the borrower into the platform to review documentation in their preferred language.
Delivered in the Microsoft Azure Public Cloud, MCP provides a secure, scalable system, accessible from anywhere and on any device.