Wipro Gallagher Solutions (WGS), a Wipro company and a leading provider of loan origination software solutions, announced the launch of its NetOxygen Saas loan origination solution for mortgage lenders.

NetOxygen Saas brings the power of NetOxygen, an enterprise class loan origination system that helps lenders reduce origination costs and boost production efficiency through automation.

NetOxygen connects to a front end portal and fintech offerings thus providing seamless interactions to improve borrower experience. NetOxygen Saas enables quicker deployment and scalability to match business growth with an all-inclusive, per transaction pricing, which is based on business outcomes.

NetOxygen Saas provides comprehensive product coverage across mortgage, home equity, HELOC (home equity line of credit) and unsecured credit lines origination. The platform integrates an extensive vendor ecosystem which provides multiple options for standard services like credit, appraisals, fraud checks, etc. NetOxygen Saas supports retail, correspondent and wholesale markets, and also enables niche offerings like construction lending for one close, multiple close, homestyle renovation and FHA construction.

"NetOxygen Saas offers an extensible and scalable platform that caters to lenders' ever-changing business needs and provides an all-encompassing solution to improve end-to-end loan origination," said Scott Dunn, Head Product Management, Strategy and Compliance, Wipro Gallagher Solutions. "Among the platform's many differentiators, what stands out is the ability to quickly configure business rules, products, fees and deliver industry leading functionality for compliance, imaging, reporting, and documents generation in combination with best-in-class providers."

Shares of the company declined Rs 0.4, or 0.15%, to trade at Rs 264.50. The total volume of shares traded was 8,113 at the BSE (9.28 a.m., Tuesday).