Mortgagesoft OnLine
Functionalities
Mortgagesoft OnLine fully automates all functions vital to Mortgage Banking.
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- Maneuvers rapidly regardless of connection speeds
- Intuitive "drill-down" hyper-links, commonly used in Web browsing
- Online guidance to the User at every step (Assist Mode)
- Multiple Document Interface (MDI) enables increased productivity
Loan Origination and Point of Sale
- Quick Interview & Product Search
- Qualification Analysis, Tabled Comparison
- Automated Qualifying Decisions
- APR and Loan Analysis Tools
- Multiple Application (Borrower) Setup
- Switch between Single/Multiple/Active/Inactive Borrowers
- Automated Workflow Queues
- Section 32, Predatory Lending Checks/Tests
- Integrated Backoffice Collaboration
- Upto 99 Borrower records for each Loan
- Import 1003 data from other LOS
- Rapid Documentation/Checklists in Word®
- Home Mortgage Disclosure Act (HMDA) Forms for Regulatory Compliance
- Track unlimited status queries per loan
- Automatic or Manual Loan # assignment
- Customizable Loan # Masking
- Programmable IntelligenceTM based on Lender Rules, Parameters
- Ensure ECOA Compliance
- What-If/Ratio Analysis
- Automatic FHA Max mortgage calculation
- Multiple Mortgage Insurance Plan (MIP) for Government, Conventional Loans
- Appraisal Request for Government, Conventional Loans
- Trust Funds Account Management
- Track all entities connected to a Loan (Appraiser, Mortgage Broker, Real Estate Broker, Escrow Agent, Builder, Insurance, etc)
- Embedded Decision Engine
- Integrated to Desktop Underwriter (DU), Loan Prospector (LP) and Other Automated Underwriting (AU) Systems
- Automated Condition-level Security
- Comprehensive tracking of audit exceptions by user defined categories and severity
- Comprehensive exception reporting
- Statistical analysis by severity and cause of exception
- Capture QC ratings on the file for pre, post and delinquent QC checks
- Standard conforming/FHA/VA forms for all 50 states
- Windows based form designer tool for custom PDF & PCL documents
- Programmable IntelligenceTM to embed complex calculations and business rules in Forms
- A simple interface for printing forms
- Applicable documents are automatically selected and can be reconfigured through the Programmable IntelligenceTM module
- Optional documents package available that is backed by a national law firm
- Packaging Closing Instruments
- HUD Settlement Statements
- Gross and Net funding summary
- Process Wire Transfer Information
- Funding reconciliation
- Aggregate Escrow Analysis
- Commission Calculation
- Track Warehouse Usage
- Warehouse Haircut calculations
- Central interface to manage Loan Fees, Commitment (Secondary Marketing) Fees
- Programmable IntelligenceTM to generate defaults by Product, State, Originator, etc.
- Automatic Posting to Financial Accounting System
- Fee Programs linked to Good Faith Estimate (GFE) document, Loan Amount Calculations, etc.
- Integrated General Ledger System
- Chart of Accounts
- Bank Account Master
- Categorize G/L Accounts by Branch, Origination Source, and Loan Type
- Automated entries for Funding, Commission, Sell/Purchase of Loans
- Tracks all parties related to the loan transaction (Listing Agent Office, Selling Agent Office, Escrow, Insurance, Title, etc.)
- Track Service Volumes
- Track Brokers and Correspondents
- Track Broker Approval Status
- Broker Application Exception Tracking
- Lead Manager
- Call Capture
- Consumer Web Portal
- Automated Follow-Up
- Automated & Scheduled Correspondences
- Work Queues
- Fully integrated with FAX & Email
- Share and Analyze data in Real-Time via Desktop Conferencing with multiple participants via the Internet
- Photograph using "Data Shots" anytime in the Life-cycle of the Loan
- Comprehensive MIS Reports per Process
- Datamart/Data Warehousing Enabled
- Customizable MIS Reports & Queries
- Statistical Analysis Reports
- Crystal Reports® Enabled
- Bulk Setup Common Guidelines
- Customize Loan Programs
- Customize Payment Type, Document Types, and Property Types on the fly.
- What-if Scenario Analysis
- XML Backbone
- Native X12 engine for legacy integration
- Credit Agency Interface
- FNMA Desktop Underwriter
- FNMA Mornet MBS Pool Delivery
- FHLMC Loan Prospector
- Flood Determination
- Appraisal Request
- Title Insurance Request
- MI Request
Loan Delivery and Post Closing
- Post Closing Audits
- Track Missing Documents
- Auto-Generate Follow-up Letters and Correspondence
- Track Insurance Status
- Ensure Government Regulatory Compliance
- HMDA Reporting Compliant
- Data Archiving & Retrieval
- Pair-off Calculations
- Lock Extensions ("Roll Overs") Price History and Expiration Calculations
- Distribution to Retail, Broker
- Assignment of Trades
- GNMA/FNMA Pooling
- Trade to Pool Slotting
- Single Loan Delivery
- Pipeline Position Reporting
- Trade Position Reporting
- Auto-Pricing Interface to Knight-Riddler
- Programmable IntelligenceTM to Configure SRP Tables and Price Adjustments by Originator, State, Product, Etc.
- Market WatchTM Interface to Monitor Bond & MBS Market via MOL
- Broker and Correspondent Loan Submissions
- Position/Mark-to-Market Reporting
- Servicing Retained vs. Servicing Released Comparisons
- Incorporation of Loan Level Buy-Ups & Buy-Downs
- Programmable IntelligenceTM based Commitment, Loan Level Fees
- Multi-Layered Tracking via Master Commitments
- Commitment & Pool Allocation Information
- Quick Summary View per Commitment & Master Commitment
- Trade Assignments
- Pair-Offs and Rollovers
- Trade and Loan Level Gain & Loss
- Coupon Tracking
- Automated MBS Delivery via Mornet(R) Interface
- Slotting to Warehouse Lines
- Define Criteria for Loan Allocations
- Bulk Slotting
- Many-to-Many Pool and Trade Matching
- Loan Re-allocation
- Predatory Lending Tests - Federal, State, County, City, and Investor Specific
- Rules-based Compliance Checks
- State-level Compliance Checks
- Conventional and Government Compliance
- Automated Data Validation
- Product Search
- Automated Qualifying Decisions
- Side by Side comparison
- Integrated Back Office Collaboration
- XML Backbone
- Rapid integration with MS BizTalk and IBM MQ Series
- Native X12 engine for legacy integration
- Credit Agency Interface
- FNMA Desktop Underwriter
- FNMA Mornet MBS Pool Delivery
- FHLMC Loan Prospector