Features
Loan Origination Solution
Mortgage Builder Software is a complete end-to-end mortgage banking solution for both retail and wholesale production serving small to mid-size banks, credit unions and mortgage companies. Our system functionality spans from prequalification and web applications to interim servicing thereby making it the only software you will need. We increase your productivity and reduce costs by eliminating doc prep fees, shipping charges and re-keying of data, just to name a few. Our website products allow for the integration of a 1003 application from a consumer/broker/loan officer, checking of loan status, viewing pipeline, requesting rate locks, reviewing underwriting conditions, and generation of closing documents.
• Prequalification
Mortgage Builder’s Pre-Qualification module gives loan officers the ability to collect qualifying information and search for programs that meet the borrower’s criteria. The loan officer can order credit, calculate the maximum loan amount which the borrower may qualify, print out a Pre-approval Letter, GFE, TIL, Qualification Analysis and view all of the data all from just one screen.
In addition the system provides the tools to create Open House Flyers, Loan Program Comparisons, Refinance Analysis and other marketing materials.
• Origination
Mortgage Builder allows loan officers to search through all loan programs to find a perfect match for their borrower based on criteria such as occupancy, documentation type, property type, credit score, LTV/CLTV and much more.
The Check Loan feature can be run from any screen to advise the loan officer of any program violations, missing data or un-cleared underwriting conditions. The results can be viewed or printed to store in the file.
The Origination Summary screen enables a loan officer to remain in one screen and enter a new loan, order credit, perform a loan program search, complete the GFE/TIL and 1003 Application, lock a loan, and even submit the loan to DU/LP.
• Processing
The processing screens within Mortgage Builder follow the same flow as the 1003 application, making it easy for processors to enter data and generate disclosures. A processor can access any of the interfaces to order services such as appraisals, credit reports, mortgage insurance, flood certificates, run LP/DU etc. The system will automatically transmit the loan’s information to the service provider and return the information into the loan without the user having to do any manual entry or leave the system. Built in features such as Notepads, Document Tracking and Document Imaging make it easy for originators and processors to communicate, organize their work flow and manage their pipeline.
• Underwriting
The Underwriting screens allow an Underwriter to review or make changes to the parameters of the loan as well as add, modify and clear conditions while remaining in just one screen. The system allows the underwriter to jump to another area, make changes and then automatically return to the main underwriting screen which refreshes the data throughout the system. Mortgage Builder allows lenders to give specific users, such as processors or junior underwriters, the ability to clear certain kinds of conditions, while ensuring that only the underwriter can change the status of a loan or clear underwriter specific conditions.
• Closing
The closing screens in Mortgage Builder allow for the preparation of closing documents for all loans types in your name or in another Lender’s name. Information in the closing screens is populated from other areas of the system so closers only spend a minimal amount of time keying in data. In addition, by setting up defaults in Administration, the system administrator can insure that much of the data generated in closing - such as escrow setup, wire instructions, proper version of note , prepayment penalties, title insurance premiums, county tax stamps, etc. - is accurate.
• Document Generation
The system makes printing and emailing documents easy for the user. In all areas of the system the user will see only documents that are applicable to their loan. For instance, a user will not see an ARM Disclosure listed in the print menu if their loan is not an ARM. By setting up print groups the system administrator can avoid errors in the generation of internal, investor and/or state specific documents, and allow for the user to email an entire application or closing package with just a few key strokes. Users can also set up their own print groups to customize their work flow and automatically print or email those documents they routinely need to send out.
• Document Tracking
Document Tracking and status reports are available to help manage a processor’s work flow and help ensure a speedy closing. The Document Tracking system will auto populate when items are printed or ordered through the system such as appraisals, flood certifications, verifications, etc. In addition the user can enter any other item to be tracked on a loan by loan basis.
• Secondary Marketing
The Secondary Marketing system allows for rate sheet generation, locking in loans, setting up commitments, allocating loans and running reports. In addition to running reports within the system, the user can download directly to Excel and upload loans for allocation to commitments. Three tiered pricing adjustments can be entered per loan program based on over 25 parameters which can be further adjusted by LTV and/or credit score. Pricing adjustments occur automatically within the system, and users can view the adjustments applicable to their loan. Secondary Marketing can control access to specific fields on user level once the rate lock has been confirmed.
• Post Closing
The Post Closing Tracking screen allows the user to generate an onscreen checklist to verify that all documents were received back at the time of closing, or track those items that are missing. The same screen allows the user to track any investor conditions that are applied to the loan after delivery. Detailed reports are available to help track outstanding documents as well as analyze the issues and the parties responsible for post closing or funding errors and omissions.
• Final Document Tracking
The Final Document Tracking screen allows users to track all final documents including recorded documents, title policies and government insurance certificates. The tracking screen auto populates with the recorded documents when the loan is closed on the system, or the user can enter any additional documents to be tracked. The system will print cover letters for the investor either individually or in batches which will automatically populate with the investor’s address, loan numbers and list each document being sent. A user friendly screen allows users to create their own final document report for one time or repeated use based on specific criteria without needing access to the system’s main reporting screens.
• Document Management Imaging
The Document Imaging system allows users to store any kind of document or image within the loan for easy reference. The stored documents are available to view on all screens and can be organized by category. This feature allows Lenders to create a paperless environment and eliminates the need to fax/email documents to underwriters, loan officers or processors, etc. Credit reports and DU findings are automatically stored in the imaging system when they are returned through the interfaces. In addition imaging capabilities are available in the Administration portion of the system to store licenses for your appraisers, brokers, realtors, etc.
• Warehouse Tracking
The Warehousing screens allow users to manage multiple warehouse lines and calculate warehouse amounts based on individual warehouse bank requirements. The system automatically tracks line usage so that the user can either run a report or view onscreen the number of loans on any line, outstanding and remaining balances, etc. In addition to easily adding loans to the warehouse line, users can paydown loans individually or in bulk. Detailed reports are available showing daily addition and paydown activity as well as warehouse journal reports.
• Construction Lending
The Construction Loan Tracking screens allow a Lender to track draws and inspections on construction loans as well as generate billing statements and payoff letters. Users can track the interest rate charged on construction loans and the system will automatically calculate the interest due when the billing statement or payoff letter is generated. Detailed reports are available showing the billing status, the construction loan pipeline and draws released.
• Document Builder
Document Builder allows for creation of custom documents within Word or another form generator, which can then be imported into Mortgage Builder for inclusion in any print menu. All fields in the system are available for use in custom documents. In addition, the document display can be controlled by various options. For example: Loan Program, investor, Amortization Type, etc.
• Report Builder
The Report Builder module allows the user to develop reports based off of any field in the system which can be printed, viewed, emailed or exported to Excel, Word or text files. This functionality gives a company the ability to custom design all their own reports. The reporting screens have built in security so that a Lender can choose which users can create, run or modify specific reports. Reports can be setup to run in batches for easy month end reporting.
• Delivery
Mortgage Builder’s delivery interfaces provide quick and easy ways to deliver loans to the end investor. Interfaces to Mornet, Midanet, Ginnienet, and Federal Home Loan Bank are available. The system allows the user to check for errors directly from the screens prior to downloading to the investor and generate assignments.
• Interim Servicing
Mortgage Builder’s interim servicing module is designed for lenders post mortgage payments when necessary. The user can enter the payment in the Payment History screen and the system will automatically apply the payment to principal, interest, escrow and late fees if applicable. The lender can also track disbursements out of the escrow account for taxes and insurance and accept additional principal payments. The user can print payment coupons individually or in batches, print payment histories and even generate payoff letters. Detailed reports are available indicating payments due and payments received.
• HMDA\1098 Reporting
HMDA Reporting is done within Mortgage Builder by the generation of error reports, a registry report and the HMDA download file. Yearend 1098 reporting is provided within the system. The 1098 is printed and mailed to the borrower, copies of mailed 1098 statements are provided on CD-ROM for the Lender and the information is transmitted to the IRS.
• Point Of Sale Solution
This laptop solution allows loan officers the ability to perform their job functions remotely. The loan officer can pull credit, complete the 1003/GFE/all upfront disclosures and submit to DU/AUS engines. Various sales tools are available from the point of sale solution including open house flyers, loan program comparisons, refinance analysis and loan program search engines.
• Allows for remote laptop access
• Print Open House Flyers
• Complete 1003 / GFE
• Loan Program Comparison
• Pull Credit
• Refinance Analysis
• Loan Program Search