Mortgagesoft OnLine

Screenshots

Product Search Disclosures Underwriting Conditions Decisioning Closing

Closing Dates Fund the Loan Secondary Marketing Commission Schedule Purchase Schedule

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Product Search
A key highlight in Mortgagesoft OnLine is the "Intelligent" Product Search Tool. Given some basic information, this tool brings up the Loan Program best suited to a Borrower's profile and lists additional Programs based on their "match-score".

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Disclosures
The Print Forms function in Mortgagesoft OnLine takes you to a neatly categorized tab consisting of the Application Forms, Authorization Forms, Verification Forms, Initial Package Forms and an "intelligent" tab with Forms specific to the current Loan.

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Underwriting
The Underwriting module allows you to:

• View and Edit 1003 Information
• Submit Loans to the AUS
• Review & Print the MCAW/VA Loan Analysis

However, the key highlights of this module are the Underwriting Conditions and the Underwriting Decisioning.

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Underwriting Conditions
The Underwriting Conditions you setup in MOL can be as generic and simple or as specific and complex as needed. Conditions can be attached globally to all Loans, or customized for Loans based on a specific defined criteria. For instance, Loans carrying a Borrower credit score of <=400 and LTV >=300000 can have a defined Condition attached automatically.

Once the condition screen is opened, any conditions that are set to underwriting automatic (set to default 100% of the time) will automatically be displayed.

To default in the conditions to the loan that are set to default based on the macros can be generated to the screen by pressing the "Generate" button.

To add a new condition either from the preset list of conditions and/or "on the fly" simply press the "Add New Condition" button.

For each condition listed, based on security you can edit and/or modify the condition verbiage as needed. In addition, you can view/change the type to Prior To Docs, Prior To Funding, etc.

When a condition is added, the status is set to Open/Outstanding. Then, based on security it may be changed to Resolved/Satisfied or Error as necessary. All conditions added in error should be inactivated and the status changed to Error.

To print the borrower approval letter, select the Print Customer button to print only the conditions that are flagged for borrower to see. Select Print Full to view ALL conditions, not necessarily borrower specific conditions.

As conditions are satisfied/resolved, you may attach a PDF file of the documentation that was received in order to resolve the condition. For example, when an appraisal comes in, you can scan a copy of the appraisal into MOL and attach it directly to the condition requiring such appraisal for future retrieval.

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Underwriting Decisioning
View and change as necessary loan amount information, appraisal and property information, borrower/credit information and Qualifying Rate information.

View and change Compensating Factors, Internal Underwriting Comments, Investor that the loan has been committed to, etc.

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Closing
The Closing flow in MOL allows you to review and edit any 1003 data and print Closing Documents. Two other key components of Closing Flow are Tracking Closing Dates and Funding the Loan.

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Closing Dates
This screen allows you to track all the dates in regards to Closing and Funding. Simply click on the calendar to the right of each date field to select the correct date or you can manually type the date in.

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Fund The Loan
Prior to funding the loan, please review the Funding Sheet to see the complete breakdown of how the net funding amount was calculated. Then, enter the information below in order to fund the loan.

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Secondary Marketing
The Secondary Marketing navigational flow is made up of several screens, one of which is the Secondary Summary screen.

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Commission Schedule
This is a snapshot of the Commission Schedule on the Buy Side within the Secondary Marketing Navigational flow.

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Purchase Schedule
This is a snapshot of the Purchase Schedule on the Sell Side within the Secondary Marketing Navigational flow.