Features & Benefits of Mortgage Machine™

Your Complete Mortgage Management Solution

Features of Mortgage Machine™

Benefits of Mortgage Machine™

• Products and Pricing
  Our product lookup and pricing modules support all loan types with an easy-to-use interface. Users can view products and pricing that is specific to their loan, fully adjusted.
  
  Loan level adjustments to price, rate and ARM/HELOC margin are logged and displayed in the Pricing module.  Profit margin adjustments are also specifically tracked for auditing real vs expected profit.
• Locks and Lock Management
  Once a product and price have been selected, the loan can be locked by an originator.  A rules check is conducted before the lock is accepted.  Locks can either be automatically accepted or sent into a queue for manual review.  Similarly lock extensions can be automated, with custom rules and extension schedules by loan program, or handled manually.
  
  In lock management, you can make feature changes, re-price to the new features and use rules to ensure that the changed loan information meets product requirements.  A history is maintained of all lock events and data changes.  You can also set your own lock hours, holiday and weekend lock policies and holidays are customizable.
• Support for Multiple Business Channels
  Our customizable business channels allow you to separate your lines of business however you choose and provide support for Retail, Net Branches, Wholesale and Correspondent Lending.  Currently we have customers that are successfully supporting all of these channels.
  
  The system is designed to be used by both internal personnel and outside originators.  You can customize these roles to fit the needs of your organization.
• Auditing Data Changes
  A history of field changes to lender data is maintained and can be viewed by users with the proper security permissions.  In addition a page history is maintained, so between the field and page history all activity can be tracked and easily audited.
• Document Management
  Documents can be uploaded and attached to files.  Notifications can be sent to lender users when documents are uploaded.  Documents can be stored in different folders and PDF forms can be manipulated within Mortgage Machine™ (individual pages viewed, removed, added, moved between documents).  Document classifications can be customized, as can viewing filters.
• Superior Access
  You can access Mortgage Machine™ from anywhere you choose: home, work or your chosen vacation spot (if you're lucky enough!).  You can have employees working from the office or from home, even if home is on the other side of the country. 
  
  But you can also restrict access to the degree you choose.  If you only want the system accessible from specified locations, logins can be tied to specific IP addresses or IP address ranges. 
• GFE and TILA Compliance
  The new Good Faith Estimate and TILA changes are incorporated into Mortgage Machine, where you can track initial GFE data against what is going to closing, transmit data to doc prep, and generate a Truth-In-Lending disclosure.  The GFE can be incorporated into registration, so that you can get the data upfront.  You can track your review and acceptance of the GFE as well.
• Custom Documents
  Custom PDF and RTF documents can utilize reporting fields to insert loan information into custom fields in the documents.
• Loan Tracking and Reporting
  Comprehensive management reports for pipeline, funding, lock pull-through, loan sale, etc. allow you to have insight into every part of your business.  Originators can track their pipeline, see historical data, or real-time data for their loans through origination, underwriting submission, doc prep and funding.  All reports can be exported to MS Excel-compatible programs.
  
  In addition to pre-built reports, you can design your own custom reports, with access to all system fields and the ability to set custom access restrictions for individual fields.  Reports can also have custom security restrictions and can be shared on a general, company or office basis.
• Government Reporting
  HMDA and CRA information can either be manually entered or gathered through an automated lookup.  HMDA data can then be output in the required data for reporting.
• Ease-of-Use
  Point and click browser technology gives you the fastest, most direct path to the information you want.
• The Foundation
  Mortgage Machine™ is a secure, web-based solution that utilizes the Microsoft .NET development platform with Microsoft SQL Server database on Dell servers running Microsoft server operating systems.  Our servers are hosted at third-party SAS/70 Type II data centers.  We have never failed to exceed our 99.9% uptime guarantee and we will provide a Service Level Agreement to back that up.
• Importing Loan Data
  Loan data can be imported from Calyx Point or a FNMA 3.2 file to setup new loans or update existing ones, or loans can be setup manually.  MISMO formats are also available upon request. 
• Secondary Marketing
  Secondary marketing features include automatically marking loans to market, enabling you to view real time market positions for the entire locked pipeline.
• Email
  Email notifications can be sent for underwriting transmittals, lock confirmations, lock extension confirmations, notifications of scanned image uploads, doc orders, etc.  Routing of email notifications is customizable, so you can choose who should receive each notification and separate by production centers.
• Rule Checks
  Rule checks ensure integrity of loan data between underwriting, locking and closing and can be customized and applied to any processes.
• Calyx Point Interface
  We interface with Calyx Point under Lenders in Point in release 5.4.  An accepted contract with Calyx is required.
• Vendor and Custom Interfaces
  Export to document preparation, AUS, flood certification, HVCC, MERS and other systems.
  
  We can also custom develop interfaces for loan servicing and GL servicing systems or any other systems that can be accessed through web services or http post.
• Loan Conditions
  Conditions flow through from underwriting to closing to funding to post-closing to ensure that each file is closed, funded and shipped in a consistent manner.  Rule checks warn of uncleared conditions.  Condition lists can be viewed or emailed at each stage.
• User Security
  Security roles and access permissions can be customized and assigned on a user basis.  Access to pages and functions can be set on a customized basis.
• Registration and Product Restrictions
  You can specify what loans you want to be able to register and lock, based on different criteria, including state, product type, etc.

...back to top

• Increased staff productivity and reduced operating costs enhance your institution’s lending profitability.
• Reduced data entry and advanced two-way interfaces with credit bureaus and automated underwriting providers streamline your operations.
• Price, disseminate products and prices in easy to review process that is very intuitive for the originator, reduce your need to answer redundant questions.
• The system tracks required data fields automatically, reducing errors and omissions.
• Easy automated loan validation for your users.
• Easy and intuitive Validation screen that will send an e-mail from your underwriters desktop and convey the information on the loan status screen.  The underwriting screen will download information from the automated findings to save time and reduce errors.
• Secondary Marketing system that utilizes data from not only locks, but the underwriting process to provide more accurate pull-through information to secondary marketing.  This will allow your current personnel to focus on issues that will increase your profitability.  Marks loans to market at least daily.
• Order Quality Control documents tailored to your desired risk levels.
• Provide straightforward screens to validate underwriting findings with minimal input and easy to distribute results.
• Document preparation with minimal input and correct document association with pricing and underwriting.
• Funding screens that remind funders of critical items that must be gathered.
• Automate process to warehouse loans to ensure no embarrassing slip ups.
• Manage final documents with effective imaging and reminder to follow-up on documents when at critical times.
• Imaging and document storage allowing fast and easy access to documents for post-closing management.
• Real time loan status for your originating clients and a broad array of pipeline reporting so you know exactly where you are on any given loan and assist you in managing for the future.  Our system allows your employees to perform these functions at amazing efficiency.
• Pricing and all lock functions are automated. Just price your products and allow us to keep them updated with market volatility and deliver accurate pricing for lock availability when you desire.
• Lock modification can be done by the user in a manner that will allow you to keep your profit margins without all of those tricky mathematical calculations to protect yourself and the user from those embarrassing misunderstandings.
• Order Interthinx Fraudguard when the file is received without entering additional data to ensure that all parties are checked out in the process.
• Electronically underwrite and retain findings in the system.
• Interface with Point software that allows Originators to seamlessly update Mortgage Machine™ while working inside Point.
• Ability to utilize your processing system with a very smooth and easy interface.  The Point interface is especially easy as it is embedded inside of the software.

...back to top

Web Site Functions for the Originator

All features of Mortgage Machine™ Web Site have been designed to mirror the loan process, enabling you to:

• Register loans
• Obtain compliance data
• Request and view credit and AUS findings
• View products and fully adjusted pricing
• Lock loans, extend locks and obtain lock confirmations
• Submit to underwriting
• View real-time loan status
• Review underwriting transmittal and re-submit as necessary
• Order closing documents
• Email notifications that can be sent to whoever you choose
• Access rate sheets
• View news and information from the lender
• View built-in or custom reports for your pipeline

...back to top