This mortgage technology glossary breaks down the software terms and acronyms lenders, brokers and IMBs run into when evaluating a platform — from LOS to TRID to AI underwriting.
A LOS is the software that manages a loan from application through closing, handling documentation, underwriting conditions, and compliance tracking throughout the process.
A POS is the borrower-facing application system where clients submit information, upload documents, and track their loan status — the front door to the origination process.
A mortgage CRM manages relationships with leads, prospects, and past clients, tracking communication history and surfacing opportunities like refinance timing or repeat business.
A borrower portal is a secure, usually mobile-friendly platform where borrowers upload documents, e-sign disclosures, and check real-time status on their loan.
A digital mortgage refers to an origination process where application, document collection, and status tracking happen online, reducing paper and manual steps for both borrower and lender.
TRID (TILA-RESPA Integrated Disclosure) is a federal rule governing mortgage disclosure timing and content, requiring specific forms like the Loan Estimate and Closing Disclosure.
The 1003, also called the Uniform Residential Loan Application (URLA), is the standard form used to collect borrower information for mortgage underwriting.
An audit trail is a record of every action and change made to a loan file, used to demonstrate compliance and accountability throughout the loan lifecycle.
Investor delivery is the process of transmitting a closed loan’s documentation and data to the investor purchasing it, the final step before a loan leaves the originating lender.
An AUS evaluates a loan file against agency guidelines and returns an automated eligibility decision, used alongside or instead of full manual underwriting.
AI underwriting uses automated systems to read loan applications, retrieve supporting documentation, and generate underwriting decisions and conditions before a human underwriter reviews the file.
A documentation path is the specific set of income, asset, and credit documents required to qualify a borrower, determined by loan program and borrower profile.
Milestone notifications are automated updates sent to borrowers at key points in the loan process — application received, approved, clear to close — keeping them informed without manual follow-up.
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