Mortgage lending software is one of the most frequently used software for financial lending organizations such as banks and other financial institutions. The software is an excellent tool that has been developed from scratch. The process involves direct work with industry customers, examining the most common workflows and best practices, and incorporating these factors into the actual software.
The software automates all processes related to a mortgage loan, such as a credit application (Form 1003) and credit transfer (Form 1008), signatures (email credit approvals and tracking conditions), credit permissions (closing documents and debt financing) post-release, ex-post documents, insurance and file room documentation). It also automates secondary marketing (blocking and investor locks), accounting (payment tracking, forms 1098 and 1099, and responsibilities), and quality control (HMDA, LAR Reporting and Broker Management).
The software has various options to customize different types of mortgage lending activities through the investor, broker, credit rep, inventory line, evaluation and closing service tables. The software creates professionally designed fonts, forms and reports to create a good impression on the client. It provides the wholesale companies with all the tools needed to manage brokers, such as licensing and pipeline reporting.
The software provides a comprehensive database for all of your mortgage lending activities and offers over 100 pre-made reporting formats for generating different mortgage lending reports. Does the software contain built-in security features, including field level? Audit Logging and Business Rules for Maximum Data Security. The software provides key interfaces with other software products such as HMDA geocoding and reporting, accounting system links, warehouse line, MERS registration and secondary risk management.
The minimum hardware requirements for this software are Windows-based computers, 32 MB of RAM. Compatible with all versions of Windows (95, 98, 2000, ME and XP) and provides full Microsoft database support, such as Microsoft Visual FoxPro and Microsoft SQL Server.