What is Hosted PowerLender?
Hosted PowerLender® represents an important breakthrough in Loan Origination System (LOS) deployment. Now, the full flexibility and power of a client-based LOS is available via the Internet. Hosted PowerLender (HPL) is not just a dumbed-down browser-based LOS. Hosted PowerLender is a fully functional, business-rules-based system that can originate, underwrite, process and close mortgage and consumer loans of all kinds. HPL requires nothing more on your end than your PC and an Internet connection, and Hosted PowerLender is centrally managed and deployed just like a Web application. So now you can have the best of both worlds: a fully-robust “desktop” application with the ease-of-deployment of a Web application. HPL is secure, fast and represents a tremendous advance in front-end mortgage technology.
How Does Hosted PowerLender Work?
First off, HPL is made possible because PowerLender is written with “desktop” Java, not a server-side language. That’s what makes PowerLender so much more functional than LOSs written as Web applications that require a browser. The browser requirement makes Web applications less efficient and somewhat difficult to use, because browsers impose a restrictive lowest common denominator on Web applications. Because applications like PowerLender don’t require a browser to operate, they provide the full range of functionality that desktop Java offers.
Historically, desktop applications have been more difficult to deploy because the application software had to be installed on every user’s PC. Despite this difficulty, many thought the superior performance and ease-of-use of desktop applications to be worth this extra effort. But now, thanks to improvements in “virtualization” technology, desktop applications no longer need to actually reside in a PC. In fact, HPL is essentially the desktop PowerLender LOS, residing within an Application Virtualization Server (AVS) that provides access to PowerLender’s superior functionality from your PC. The appearance and performance of Hosted PowerLender is no different than if PowerLender were running right on your local PC.
You can host PowerLender in-house or you can obtain hosting services from a third-party managed service provider. The hosting service provides the application server (housing the PowerLender programs and your customizations), database server (containing loan records) and the AVS and its associated Web portal (which allows for full-function Internet access). Users simply click on a specific URL, log in and start working. All data and transactions are secure.
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