How To Maintain Your LOS Post-Launch: Metrics To Watch & Questions Worth Asking

The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the loan origination system content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.

We have liftoff!

You've assembled the team, put in the hours researching vendors and attending demos, and selected your perfect loan origination system. Everyone is trained on the new system, the custom configurations have been set, and you've finally made it to launch.

What comes next?

Once the planning, evaluation, and launch processes are complete, it's time to switch to maintenance mode! Don't worry-it isn't complicated at all. It's just a routine part of LOS ownership, and we have some tips to make it easier and more effective.

Post-launch review and maintenance is about reflecting on where you were before making the upgrade, where you are now, and where you're headed. By systematically measuring your pain points and goals against the metrics your new loan origination system generates, you uncover crucial insights into the new system's efficacy. Those insights are as good as gold when it comes to refining your lending operations and planning for long-term growth!

To help, here are a few questions that can point you toward the metrics that can foster lasting improvement:

1. How have loan processing times improved since implementation?

The key to borrower satisfaction in a digital-first lending environment is quick service, from application experience to processing timelines.

Compare your processing times now to those before your new LOS and see how they stack up. Are you seeing clear improvements in key stages like application intake, underwriting, and closing? If not, pinpoint exactly where delays are creeping in. Are files getting stuck with processors? Is underwriting turnaround slower than expected? This is where you can take a closer look at your workflow and settings. It all starts with getting those metrics and using them to make improvements over time.

2. What trends are you seeing in application volume post-launch?

Application volume trends can be an accurate window into market demand for your lending products and the system's scalability. You can spot seasonal shifts, gauge borrower demand for specific products, and forecast revenue more accurately. Tracking these trends also helps you allocate staff and budget where they're needed most, so you're ready for surges without bottlenecks or missed opportunities.

3. What is your current application-to-fund ratio? How does it compare to your goals?

A high application-to-fund ratio means you're turning applications into funded loans efficiently. This points to a strong borrower experience and streamlined underwriting.

If your ratio is lower than expected, dig into where applicants drop off. Are conditions too strict? Are docs getting stuck in review? Use these insights to tighten processes, train staff, or adjust credit policies to boost pull-through, reduce risk, and protect profitability.

4. What is the percentage of applications receiving automated decisions?

A high automated decisioning rate-backed precise credit criteria and risk parameters-means your LOS is helping your operation and borrowers reach the finish line faster, more accurately, and with less risk. Borrowers notice when they receive prompt service, and they often respond by becoming repeat customers.

Not to mention, automating loan decisioning can take pressure off your team. It gives them time back to focus on more complex loans and building strong relationships instead of getting bogged down in paperwork. It's a win for everyone!

Ready To Level Up Your Lending Experience?

The right technology partner is essential to supporting a smooth experience both during and after your loan origination system implementation.

Get more guidance and best practices for LOS adoption, implementation, and upkeep in the Evaluating & Selecting a Consumer Loan Origination System eBook. Download it today to take the first step toward lasting growth through optimized lending operations.