Thursday, January 25, 2007
Mortgage Technology
Mortgage Technology
Mortgage Technology, June 2006 issue
Brankers Unite!
A new organization has emerged that caters specifically to the broker wishing to move into a banker position. BrankerConnect, Novato, Calif., is a partnership formed in January of this year, between Garrett Watts & Co., a national mortgage banking consulting firm, and ComUnity Lending, a nationwide mortgage banker founded in 1980, with 108 retail branches in 39 states.
The BrankerConnect proposition is that they will mentor the broker through the conversion process, while managing the operational aspects of banking, including furnishing the technology, until the broker can function independently as a banker. Additionally, they will help the prospective banker develop a relationship with two warehouse lenders.
The technology consists of a proprietary system called Seamless, with a SQL database, Web interface and a data interface with the warehouse lender, built in-house by ComUnity Lending 13 years ago. "It draws docs, has all loan level data, has an interface into their accounting system. So essentially we're renting the mortgage banking platform to mortgage brokers," said Corky Watts, a pioneer in the development of the Web for mortgage lending.
"Part of the value proposition is we will train the operational people, and after they have gone through the two-week training program, there's another two weeks at our Nevada training office working on the prospective banker's files," explained Mr. Watts. "So it ends up being about a four-week period altogether, depending on how they do with the training. Some might take an extra week."
After the training, BC imbeds "Mortgage Masters" in the broker's shop. These experienced people do all the underwriting, documents and funding - only for loans to be funded and purchased by ComUnity Lending. ComUnity then performs due diligence after closing.
Mr. Watts explained that a small, recently converted mortgage banker, who has a minimum net worth, is at a comparative disadvantage compared with a larger bank, with worse pricing. "So essentially what ComUnity is doing, through getting all of these prospective bankers together and pooling all the loans, is to get a better execution than these guys would get if they were trying to deliver on their own. We feel that we can get a better price and then pass that benefit on to them," he said.
"We just started this," he added. "We have a couple of betas. This is brand new, as it's only been in effect for about 90 days. We actually funded our first loan about two weeks ago."
(c) 2006 Mortgage Technology and SourceMedia
Mortgage Technology, June 2006 issue
Brankers Unite!
A new organization has emerged that caters specifically to the broker wishing to move into a banker position. BrankerConnect, Novato, Calif., is a partnership formed in January of this year, between Garrett Watts & Co., a national mortgage banking consulting firm, and ComUnity Lending, a nationwide mortgage banker founded in 1980, with 108 retail branches in 39 states.
The BrankerConnect proposition is that they will mentor the broker through the conversion process, while managing the operational aspects of banking, including furnishing the technology, until the broker can function independently as a banker. Additionally, they will help the prospective banker develop a relationship with two warehouse lenders.
The technology consists of a proprietary system called Seamless, with a SQL database, Web interface and a data interface with the warehouse lender, built in-house by ComUnity Lending 13 years ago. "It draws docs, has all loan level data, has an interface into their accounting system. So essentially we're renting the mortgage banking platform to mortgage brokers," said Corky Watts, a pioneer in the development of the Web for mortgage lending.
"Part of the value proposition is we will train the operational people, and after they have gone through the two-week training program, there's another two weeks at our Nevada training office working on the prospective banker's files," explained Mr. Watts. "So it ends up being about a four-week period altogether, depending on how they do with the training. Some might take an extra week."
After the training, BC imbeds "Mortgage Masters" in the broker's shop. These experienced people do all the underwriting, documents and funding - only for loans to be funded and purchased by ComUnity Lending. ComUnity then performs due diligence after closing.
Mr. Watts explained that a small, recently converted mortgage banker, who has a minimum net worth, is at a comparative disadvantage compared with a larger bank, with worse pricing. "So essentially what ComUnity is doing, through getting all of these prospective bankers together and pooling all the loans, is to get a better execution than these guys would get if they were trying to deliver on their own. We feel that we can get a better price and then pass that benefit on to them," he said.
"We just started this," he added. "We have a couple of betas. This is brand new, as it's only been in effect for about 90 days. We actually funded our first loan about two weeks ago."
(c) 2006 Mortgage Technology and SourceMedia
Warehouse Line Mortgage Lending Process
Warehouse Line Mortgage Lending Process: "
The objective to both the warehouse lender and the mortgage company is to create a profitable business relationship. The warehouse lender can make secure loans approved and underwritten according to various agency guidelines, and the mortgage company will be able to make a profitable spread on each mortgage used by this warehouse line.
To make the warehouse lender secure, it must have three items:
A marketable first lien mortgage in which it can obtain unrestricted title.
The mortgage to be pre-sold to a permanent mortgage investor limiting the time exposure to the lender.
Complete control of the funds on the sale to the permanent investor.
The loans are approved prior to funding and specific closing instructions are given to the title companies instructing them to close the loan only when the mortgage is a first lien with a good and marketable title. In addition, prior to closing, the mortgage will be pre-sold with a written commitment in possession from an approved third party investor. After closing, the mortgage is sold to the permanent investor, and all monies from the sale will go directly to the warehouse lender for dispersal.
Under our current program, the warehouse lender will advance up to a maximum of 100% of the loan amounts which are to be purchased by third party companies or which are to be pooled.
The first stage of a mortgage loan is for the mortgage banker to take a loan application from the homebuyer. The mortgage banker then secures an investor in the secondary market. The loan is then processed and submitted to underwriting for approval. Once the loan is approved, it is then sent to closing."
The objective to both the warehouse lender and the mortgage company is to create a profitable business relationship. The warehouse lender can make secure loans approved and underwritten according to various agency guidelines, and the mortgage company will be able to make a profitable spread on each mortgage used by this warehouse line.
To make the warehouse lender secure, it must have three items:
A marketable first lien mortgage in which it can obtain unrestricted title.
The mortgage to be pre-sold to a permanent mortgage investor limiting the time exposure to the lender.
Complete control of the funds on the sale to the permanent investor.
The loans are approved prior to funding and specific closing instructions are given to the title companies instructing them to close the loan only when the mortgage is a first lien with a good and marketable title. In addition, prior to closing, the mortgage will be pre-sold with a written commitment in possession from an approved third party investor. After closing, the mortgage is sold to the permanent investor, and all monies from the sale will go directly to the warehouse lender for dispersal.
Under our current program, the warehouse lender will advance up to a maximum of 100% of the loan amounts which are to be purchased by third party companies or which are to be pooled.
The first stage of a mortgage loan is for the mortgage banker to take a loan application from the homebuyer. The mortgage banker then secures an investor in the secondary market. The loan is then processed and submitted to underwriting for approval. Once the loan is approved, it is then sent to closing."
Warehouse Line Company Information
There are two types of funding for mortgage bankers table funding and warehouse lines
Warehouse Line Company Information: "Our entire warehouse line program is managed by mortgage bankers, not bankers.
We warehouse and fund all A paper products which include FHA, VA, conventional and jumbo loans. Approvals for funding include direct endorsement (FHA), VA automatic or prior approved (VA), DU and LP.
There are no legal preparation fees, no annual renewal fees or no non-usage fees to pay with obtaining this warehouse line.
The average time for approval after receiving a complete package is approximately two weeks or less.
We only require that you fax us the key documents needed 24 hours prior to the funding. No need to overnight us a complete package. We also offer same day funding requests at no additional charge.
The amount of the line requested is determined by the performance of the company. We do require a minimum audited net worth of $250,000.
The funding percentage on each 'A' loan is up to 100% of the loan amount. There is no 'haircut' in these instances.
There are no set net worth ratio's to establish the warehouse line amount.
This is a non-directed line, which means you do not have to sell the loans to one investor. You can sell them to any one of the investors on our approved investor list."
Benefits and Advantages
Establishes a reputation for your company with consumers, builders, brokers and real estate agents to close and fund loans in your own name. We fund within 24 hours of request and in most cases, funds can be sent the same day of receipt of your information. This method of funding helps keep both your customers and agents content by paying for the entire transaction at the closing.Correspondent and wholesale lenders typically pay more for closed loans as well as charging you less fees. The fees brokers can earn are limited. This method of funding increases profitability by utilizing available Warehouse Lines to fund your current production into the secondary market.No more need for the Disclosure of Service Release Premiums on the HUD-1 Settlement statement as required by RESPA. Since you are closing the loan in your own name, your company is exempted from RESPA to disclose the SRP's, unlike table funded transactions.Your company gets to earn the interest of the note rate during the warehouse period, which makes up for most or all of the interest that you are paying for the facility.Your company gets to control the entire settlement and funding date of the loan closing. This eliminates the worry of promised wires from your table funding lenders, which rarely arrive on time.Enables your company to grow at a faster pace. Growth is limited without the use of a warehouse line.
Warehouse Line Company Information: "Our entire warehouse line program is managed by mortgage bankers, not bankers.
We warehouse and fund all A paper products which include FHA, VA, conventional and jumbo loans. Approvals for funding include direct endorsement (FHA), VA automatic or prior approved (VA), DU and LP.
There are no legal preparation fees, no annual renewal fees or no non-usage fees to pay with obtaining this warehouse line.
The average time for approval after receiving a complete package is approximately two weeks or less.
We only require that you fax us the key documents needed 24 hours prior to the funding. No need to overnight us a complete package. We also offer same day funding requests at no additional charge.
The amount of the line requested is determined by the performance of the company. We do require a minimum audited net worth of $250,000.
The funding percentage on each 'A' loan is up to 100% of the loan amount. There is no 'haircut' in these instances.
There are no set net worth ratio's to establish the warehouse line amount.
This is a non-directed line, which means you do not have to sell the loans to one investor. You can sell them to any one of the investors on our approved investor list."
Benefits and Advantages
Establishes a reputation for your company with consumers, builders, brokers and real estate agents to close and fund loans in your own name. We fund within 24 hours of request and in most cases, funds can be sent the same day of receipt of your information. This method of funding helps keep both your customers and agents content by paying for the entire transaction at the closing.Correspondent and wholesale lenders typically pay more for closed loans as well as charging you less fees. The fees brokers can earn are limited. This method of funding increases profitability by utilizing available Warehouse Lines to fund your current production into the secondary market.No more need for the Disclosure of Service Release Premiums on the HUD-1 Settlement statement as required by RESPA. Since you are closing the loan in your own name, your company is exempted from RESPA to disclose the SRP's, unlike table funded transactions.Your company gets to earn the interest of the note rate during the warehouse period, which makes up for most or all of the interest that you are paying for the facility.Your company gets to control the entire settlement and funding date of the loan closing. This eliminates the worry of promised wires from your table funding lenders, which rarely arrive on time.Enables your company to grow at a faster pace. Growth is limited without the use of a warehouse line.
lendere-source.com update
Hud Exemption to Certain States for Lenders
Hud Exemption to Certain States for Lenders
| To establish proof of a mortgage license exemption, we offer the following services: | ||
| State Agency License Exemption Confirmation Request Letters or Registrations: (Our Fee: $500 per Confirmation Letter or Registation for license exemption knowledge, letter drafting, Registration preparation & followup and interaction with State Agencies [SEE DISCLAIMER BELOW] | ||
| LICENSE EXEMPTIONS DUE TO STATUS AS: HUD Approved Non-supervised Mortgagees with Direct Endorsement Underwriting Authority "FULL EAGLE" | KY Broker & Lender Registration TX 1st Broker & Lender Registration MO Broker & Lender Confirmation MT 1st Lender Registation TN Broker & Lender Registration MS Broker & Lender Registration OH 1st Broker & Lender [Limited Exemption] OK Broker & Lender Confirmation HI Broker & Lender Confirmation CO Broker Confirmation IN Broker Confirmation WV Broker & Lender [Limited Exemption] SC Broker [Limited Exemption] AL Broker & Lender Confirmation | |
| LICENSE EXEMPTIONS DUE TO STATUS AS: HUD Approved Correspondent Lenders "MINI EAGLE"
| KY Broker & Lender Registration MO Broker & Lender Confirmation CO Broker Confirmation IN Broker Confirmation TN Broker & Lender Registration MS Broker & Lender Registration HI Broker & Lender Confirmation WV Broker [Limited Exemption] SC Broker [Limited Exemption] AL Broker & Lender Confirmation | |
| Benefits: State Agency License Exemption Confirmation Request Letters give notice to the state that you will be doing business in their state and requests confirmation on state agency letterhead that you are not required to obtain a mortage license in their state. Normal response is about 60-75%. This alternative is much cheaper than confirmation via an Opinion of Counsel in each state that could cost as much as $3000 each. Written confirmation on State Letterhead is very valuable to present to Lenders as evidence that a license is not required.TD> | ||
Lender regulations changing for US
In recent years, more states have implemented
loan-officer-licensing legislation in an effort to protect borrowers from abuse by predatory lenders and officers. Although only three states required loan-officer licenses just three years ago, 31 states now have license or registration regulations on the books.
Despite the increased legislation, noncompliance
is rampant. Many mortgage companies are ignoring the laws. Some are openly defying them, funneling all loan officers’ loans through the company’s one licensed loan officer.
The goal of state legislators and predatory-lending groups is to hold loan officers and lenders
responsible for predatory-lending behavior. State-agency enforcement departments are issuing
cease-and-desist orders, revoking licenses and levying fines in an effort to promote compliance
with these laws.
Ultimately, mortgage companies are responsible for getting all their loan officers registered or licensed. The best way to stay in compliance is to file for loan-officer registration
or licenses for each loan officer who brokers or makes mortgage loans in the one of the 31 states. The other option: Risk violations for failure to supervise the licensing of your loan officers.
Mortgage -- Pipeline Management
Mortgage Banking -- Pipeline Management
Found in:
www.MortgageBankingMag.com
Del Mar Database [9463] Guide Desc: Mortgage Banking Software Type: Mortgage pipeline management Products: Loan origination software, document imaging and management,mortgage software, pipeline management,investor guideline, product management Address: 6165 Greenwich Drive, Suite 200, San Diego, CA 92122 Descr: Del Mar Database offers proven software solutions specifically designed to meet the needs and budgets of small to medium size lenders. Our leading DataTrac®r, WebTrac®r Pro, DocumentTrac™T and GuideTrac™ products give you the ability to gain total control of your pipeline by centralizing data across your entire organization, allow originators to view loan status and lock loans online, provide integrated electronic document imaging and management capabilities and easily access the latest investor guidelines and products. Our solutions help you to fully integrate your existing front and back-office applications, allowing loan data to flow seamlessly through your organization. Getting started is fast, easy and affordable, so contact us today at 800-290-3331 or sales@delmardb.com. Visit our web site at www.delmardb.com. Ph: 1-858-550-8810, Fx:1-858-550-8822 Contact: John Walsh,President
Ph: 858-550-8810 x108 Fx: 858-550-8822Contact: Rob Katz,Vice President of National Sales
Ph: 858-550-8810 x102 Fx: 858-550-8822Contact: Lisa Oelsner,Vice President of Product Marketing/Busi
Ph: 858-550-8810 x150 Fx: 858-550-8822
Lion Inc. [105278] Guide Type: Mortgage pipeline management Products: Risk Management,Mortgage Websites,wholesale Lending Index, Interest Rates,Lender Directory,Mortgage Lead Generation,Web Site Design Address: 4700 42nd Ave. S.W, Ste. 430, Seattle, WA 98116 Descr: Streamlines the loan fulfillment process. Offers consistent, seamless business solutions to consumers, brokers, Realtors, originators and lenders. Provides an integrated technology platform offering online loan productivity, pipeline hedging and risk management, software development and data communications tools. Online loan productivity, Mortgage Software Development , Data communications LION Inc. is the leading provider of online products and services for the mortgage industry. Lioninc.com offers the industry's most extensive on-line mortgage loan database, automated loan underwriting systems and other related Internet-based products and services for mortgage brokers and lenders. Ph: 1-800-786-8083, Fx:1-303-455-4100 Contact: John A. McMillan,President & CEO
Ph: 206-326-1995 Fx: 206-230-0429Contact: Tim Newberry,co-president.
Fx: 303-455-4100
McCracken Financial Services Inc. [5370] Guide Type: Mortgage pipeline management Products: Mortgage Technology,Loan servicing System, Commercial Loan Servicing,Pipeline Management, Underwriting Software,MBS Pricing Address: 8 Suburban Park Drive, Billerica, MA 01821 Descr: McCracken Financial Software provides proven software solutions that increases profitability in Commercial Mortgage Servicing. For over fifteen years, our innovative products (STRATEGY, Investor Vision, and Pipelyne) are recognized as the most comprehensive available. We have over one hundred installations, including the top ten Commercial Mortgage Servicers! Offers technology solutions for the commercial real estate servicing industry, including Strategy, a commercial loan servicing system, and additional Web-based products, such as MyCollateral, MyTasks, MyLoans and MyPortfolio. Ph: 1-800-933-4470, Fx:1-302-798-9604 Contact: Kim Cooper,Sales
Fx: 302-798-9604Contact: Cyrus Brinn,Senior vice president
Fx: 302-798-9604Contact: Mica Moseley,Senior vice president of sales
Fx: 302-798-9604
NETUPDATE Inc. [111400] Guide Type: Mortgage pipeline management Products: Pipeline Management Address: 6675 - 185th Ave. NE, Ste. 200, Redmond, WA 98052 Descr: LoanUPDATE - Customer and partner communications and loan pipeline management tools. ByteOn-line with the Qualifier Series (TQS) loan origination software is integrated with online customer communications, electronic access and pipeline management capabilities. Ph: 1-425-453-9950, Fx:1-425-451-7882 Contact: MaryJochum,senior marketing manager
Ph: 425-453-9950 Fx: 425-451-7882Contact: Chris McGahan,VP of Sales
Ph: 800-695-1008 x2712 Fx: 425-451-7882Optimal Blue LLC [122519] Guide Type: Mortgage pipeline management Products: Mortgage Pipeline Management,Pipeline Management Address: 5800 Granite Pkwy Ste 300, Plano, TX 75024-6616 Descr: Internet Services/Technology Products, Secondary Market Systems/Services, Underwriting Systems/Services Ph: 1-972-680-5165, Fx:1-972-731-9501 Optimal Blue LLC [122519] Guide Type: Mortgage pipeline management Products: Mortgage Pipeline Management,Pipeline Management Address: 5800 Granite Pkwy Ste 300, Plano, TX 75024-6616 Descr: Internet Services/Technology Products, Secondary Market Systems/Services, Underwriting Systems/Services Ph: 1-972-680-5165, Fx:1-972-731-9501 Precision Risk Management Systems Inc. [111404] Guide Type: Mortgage pipeline management Products: Pipeline Management,Fallout analysis Address: 4604 Dawson Dr., Ste. 201,, North Little Rock, AR 72116 Descr: Precision Risk Management Systems, Inc. (PRMS) supports the mortgage banking industry by providing powerful analytical tools for trading and hedging activities as well as expert consulting services. PRMS was founded by mortgage banking professionals. We understand the specific needs of the mortgage industry and provide solutions based on these needs. Ph: 1-501-758-2482 Contact: Greg Ellis,executive vice president
Ph: 501-758-2482
PushMX Software [120776] Guide Type: Mortgage pipeline management Products: Pipeline Management Address: 871 Coleman Ave, San Jose, CA 95110-1831 Descr: PushMX is enterprise management software. Integrate it with your existing Calyxr Pointr software and discover new ways to increase your revenue. Ph: 1-408-287-7136
Sollen Technologies LLC [122194] Guide Desc: Mortgage Software pricing automation tools Type: Mortgage pipeline management Products: Secondary Marketing, Mortgage Software , Mortgage Pricing Engine,Pipeline Management,Rate Sheet Generator Address: 12750 Merit Dr., Ste. 1020, Dallas, TX 75251 Descr: Sollen offers a pricing engine that includes Guidelines, Adjustments, SRP's and Pricing. Also, allowing you to put in your own Markup's, Spreads and Specials! You can also develop your own Ratesheets. To sign up you must be licensed asa Correspondent Lender. Any size company can afford it! Ph: 1-214-647-8937, Fx:1-972-960-7202 Contact: Leslie Peters,Sales and Marketing
Ph: 214-647-8937 Fx: 972-960-7202
The Bohan Group Inc. [108434] Guide Desc: Secondary Marketing,Pipeline management Type: Mortgage pipeline management Products: Pipeline management,Property services, RE Commercial, Consultant,Mortgage Banking Consultant Address: 703 Market Street, Suite 800, San Francisco, CA 94103 Descr: Multi-faceted nationwide mortgage analytics firm specializing in due diligence and other mortgage related data management. Software development and sales for mortgage pipeline management, price modeling, secondary market activities. Ph: 1-415-433-5111 x109, Fx:1-415-433-4720 Contact: Paul F. Bohan,CEO
Ph: 415-433-5111 x109 Fx: 415-433-4720Contact: Carl Meiswinkei,Administrative Director
Ph: 415-433-5111 Fx: 415-433-4720Contact: Richard Lee,CPM Director
Ph: 415-433-5111 Fx: 415-433-4720Contact: Paul Landes,Director
Ph: 415-433-5111 Fx: 415-433-4720Contact: Yaser Rehim,Director
Ph: 415-433-5111 Fx: 415-433-4720
Tuttle Risk Management services, Inc. [104038] Guide Type: Mortgage pipeline management Products: Mortgage software,Pipeline management, Secondary marketing consulting Address: 4040 Civic Center Dr., Ste. 540, San Rafael, CA 94903 Descr: Provides pipeline interest-rate risk management and secondary marketing consulting, including pipeline production management, rate sheet pricing, and MBS and whole-loan dynamic best execution. The TRMS pipeline risk management program is designed to provide interest rate risk measurement and management for mortgage pipelines to financial institutions, such as commercial banks, community banks and mortgage bankers. Ph: 1-415-462-7500, Fx:1-415-462-7511 Contact: Chris Kennedy,National sales manager
Ph: 415-462-7500 Fx: 415-462-7511
Found in:
www.MortgageBankingMag.com
Del Mar Database [9463] Guide Desc: Mortgage Banking Software Type: Mortgage pipeline management Products: Loan origination software, document imaging and management,mortgage software, pipeline management,investor guideline, product management Address: 6165 Greenwich Drive, Suite 200, San Diego, CA 92122 Descr: Del Mar Database offers proven software solutions specifically designed to meet the needs and budgets of small to medium size lenders. Our leading DataTrac®r, WebTrac®r Pro, DocumentTrac™T and GuideTrac™ products give you the ability to gain total control of your pipeline by centralizing data across your entire organization, allow originators to view loan status and lock loans online, provide integrated electronic document imaging and management capabilities and easily access the latest investor guidelines and products. Our solutions help you to fully integrate your existing front and back-office applications, allowing loan data to flow seamlessly through your organization. Getting started is fast, easy and affordable, so contact us today at 800-290-3331 or sales@delmardb.com. Visit our web site at www.delmardb.com. Ph: 1-858-550-8810, Fx:1-858-550-8822 Contact: John Walsh,President
Ph: 858-550-8810 x108 Fx: 858-550-8822Contact: Rob Katz,Vice President of National Sales
Ph: 858-550-8810 x102 Fx: 858-550-8822Contact: Lisa Oelsner,Vice President of Product Marketing/Busi
Ph: 858-550-8810 x150 Fx: 858-550-8822
Lion Inc. [105278] Guide Type: Mortgage pipeline management Products: Risk Management,Mortgage Websites,wholesale Lending Index, Interest Rates,Lender Directory,Mortgage Lead Generation,Web Site Design Address: 4700 42nd Ave. S.W, Ste. 430, Seattle, WA 98116 Descr: Streamlines the loan fulfillment process. Offers consistent, seamless business solutions to consumers, brokers, Realtors, originators and lenders. Provides an integrated technology platform offering online loan productivity, pipeline hedging and risk management, software development and data communications tools. Online loan productivity, Mortgage Software Development , Data communications LION Inc. is the leading provider of online products and services for the mortgage industry. Lioninc.com offers the industry's most extensive on-line mortgage loan database, automated loan underwriting systems and other related Internet-based products and services for mortgage brokers and lenders. Ph: 1-800-786-8083, Fx:1-303-455-4100 Contact: John A. McMillan,President & CEO
Ph: 206-326-1995 Fx: 206-230-0429Contact: Tim Newberry,co-president.
Fx: 303-455-4100
McCracken Financial Services Inc. [5370] Guide Type: Mortgage pipeline management Products: Mortgage Technology,Loan servicing System, Commercial Loan Servicing,Pipeline Management, Underwriting Software,MBS Pricing Address: 8 Suburban Park Drive, Billerica, MA 01821 Descr: McCracken Financial Software provides proven software solutions that increases profitability in Commercial Mortgage Servicing. For over fifteen years, our innovative products (STRATEGY, Investor Vision, and Pipelyne) are recognized as the most comprehensive available. We have over one hundred installations, including the top ten Commercial Mortgage Servicers! Offers technology solutions for the commercial real estate servicing industry, including Strategy, a commercial loan servicing system, and additional Web-based products, such as MyCollateral, MyTasks, MyLoans and MyPortfolio. Ph: 1-800-933-4470, Fx:1-302-798-9604 Contact: Kim Cooper,Sales
Fx: 302-798-9604Contact: Cyrus Brinn,Senior vice president
Fx: 302-798-9604Contact: Mica Moseley,Senior vice president of sales
Fx: 302-798-9604
NETUPDATE Inc. [111400] Guide Type: Mortgage pipeline management Products: Pipeline Management Address: 6675 - 185th Ave. NE, Ste. 200, Redmond, WA 98052 Descr: LoanUPDATE - Customer and partner communications and loan pipeline management tools. ByteOn-line with the Qualifier Series (TQS) loan origination software is integrated with online customer communications, electronic access and pipeline management capabilities. Ph: 1-425-453-9950, Fx:1-425-451-7882 Contact: MaryJochum,senior marketing manager
Ph: 425-453-9950 Fx: 425-451-7882Contact: Chris McGahan,VP of Sales
Ph: 800-695-1008 x2712 Fx: 425-451-7882Optimal Blue LLC [122519] Guide Type: Mortgage pipeline management Products: Mortgage Pipeline Management,Pipeline Management Address: 5800 Granite Pkwy Ste 300, Plano, TX 75024-6616 Descr: Internet Services/Technology Products, Secondary Market Systems/Services, Underwriting Systems/Services Ph: 1-972-680-5165, Fx:1-972-731-9501 Optimal Blue LLC [122519] Guide Type: Mortgage pipeline management Products: Mortgage Pipeline Management,Pipeline Management Address: 5800 Granite Pkwy Ste 300, Plano, TX 75024-6616 Descr: Internet Services/Technology Products, Secondary Market Systems/Services, Underwriting Systems/Services Ph: 1-972-680-5165, Fx:1-972-731-9501 Precision Risk Management Systems Inc. [111404] Guide Type: Mortgage pipeline management Products: Pipeline Management,Fallout analysis Address: 4604 Dawson Dr., Ste. 201,, North Little Rock, AR 72116 Descr: Precision Risk Management Systems, Inc. (PRMS) supports the mortgage banking industry by providing powerful analytical tools for trading and hedging activities as well as expert consulting services. PRMS was founded by mortgage banking professionals. We understand the specific needs of the mortgage industry and provide solutions based on these needs. Ph: 1-501-758-2482 Contact: Greg Ellis,executive vice president
Ph: 501-758-2482
PushMX Software [120776] Guide Type: Mortgage pipeline management Products: Pipeline Management Address: 871 Coleman Ave, San Jose, CA 95110-1831 Descr: PushMX is enterprise management software. Integrate it with your existing Calyxr Pointr software and discover new ways to increase your revenue. Ph: 1-408-287-7136
Sollen Technologies LLC [122194] Guide Desc: Mortgage Software pricing automation tools Type: Mortgage pipeline management Products: Secondary Marketing, Mortgage Software , Mortgage Pricing Engine,Pipeline Management,Rate Sheet Generator Address: 12750 Merit Dr., Ste. 1020, Dallas, TX 75251 Descr: Sollen offers a pricing engine that includes Guidelines, Adjustments, SRP's and Pricing. Also, allowing you to put in your own Markup's, Spreads and Specials! You can also develop your own Ratesheets. To sign up you must be licensed asa Correspondent Lender. Any size company can afford it! Ph: 1-214-647-8937, Fx:1-972-960-7202 Contact: Leslie Peters,Sales and Marketing
Ph: 214-647-8937 Fx: 972-960-7202
The Bohan Group Inc. [108434] Guide Desc: Secondary Marketing,Pipeline management Type: Mortgage pipeline management Products: Pipeline management,Property services, RE Commercial, Consultant,Mortgage Banking Consultant Address: 703 Market Street, Suite 800, San Francisco, CA 94103 Descr: Multi-faceted nationwide mortgage analytics firm specializing in due diligence and other mortgage related data management. Software development and sales for mortgage pipeline management, price modeling, secondary market activities. Ph: 1-415-433-5111 x109, Fx:1-415-433-4720 Contact: Paul F. Bohan,CEO
Ph: 415-433-5111 x109 Fx: 415-433-4720Contact: Carl Meiswinkei,Administrative Director
Ph: 415-433-5111 Fx: 415-433-4720Contact: Richard Lee,CPM Director
Ph: 415-433-5111 Fx: 415-433-4720Contact: Paul Landes,Director
Ph: 415-433-5111 Fx: 415-433-4720Contact: Yaser Rehim,Director
Ph: 415-433-5111 Fx: 415-433-4720
Tuttle Risk Management services, Inc. [104038] Guide Type: Mortgage pipeline management Products: Mortgage software,Pipeline management, Secondary marketing consulting Address: 4040 Civic Center Dr., Ste. 540, San Rafael, CA 94903 Descr: Provides pipeline interest-rate risk management and secondary marketing consulting, including pipeline production management, rate sheet pricing, and MBS and whole-loan dynamic best execution. The TRMS pipeline risk management program is designed to provide interest rate risk measurement and management for mortgage pipelines to financial institutions, such as commercial banks, community banks and mortgage bankers. Ph: 1-415-462-7500, Fx:1-415-462-7511 Contact: Chris Kennedy,National sales manager
Ph: 415-462-7500 Fx: 415-462-7511
How exactly will your company be improved - eSTYLE Mortgage Software
Company based out of Russia and New York...
How exactly will your company be improved - eSTYLE Mortgage Software: "How exactly will loan selection be improved??
LoanFinder provides Loan Officers with all they need to select the right loan for their prospect borrowers during one the sales call.
In order to do this, the LoanFinder performs the following tasks:
It monitors all participating banks for rate or product changes
It stores all rate sheets as executable algorithms that take into account everything on a rate sheet - matrices, adjustments, notes, limits, states, fixed/ARM products, exceptions for jumbo loans and 100+ LTVs
It completely reproduces the entire rate determination procedure as performed by lender's underwriters, with almost identical results
It selects the right rate sheets for the target state, documentation set, and loan type (ARM of FIXED)
It uses standard credit report eligibility criteria to determine the rates, such as FICO scores, bankruptcy/foreclosure, late payments, etc.; as well as basic loan parameters, such as loan type / purpose / amount, LTV, DTI, etc.
It also automatically discovers dozens of tiny details that affect the rate for each loan product in each case; for example occupancy, seasoning, various property types, loan size, cash out, etc.
It provides the ability fine-tune the rate and commissions by using such terms as prepayment penalty, lock period, and buy up/buy down
It enables the comparison of various loan programs for the most optimal rate/terms/commissions ratio
For ARM loans, it gives the ability to select the loan with the best margins, indices, and caps, in addition to the initial fixed loan conditions
It does all of the above in real time, so now Loan Officers can qualify the borrower and submit to processing during ONE phone call! "
How exactly will your company be improved - eSTYLE Mortgage Software: "How exactly will loan selection be improved??
LoanFinder provides Loan Officers with all they need to select the right loan for their prospect borrowers during one the sales call.
In order to do this, the LoanFinder performs the following tasks:
It monitors all participating banks for rate or product changes
It stores all rate sheets as executable algorithms that take into account everything on a rate sheet - matrices, adjustments, notes, limits, states, fixed/ARM products, exceptions for jumbo loans and 100+ LTVs
It completely reproduces the entire rate determination procedure as performed by lender's underwriters, with almost identical results
It selects the right rate sheets for the target state, documentation set, and loan type (ARM of FIXED)
It uses standard credit report eligibility criteria to determine the rates, such as FICO scores, bankruptcy/foreclosure, late payments, etc.; as well as basic loan parameters, such as loan type / purpose / amount, LTV, DTI, etc.
It also automatically discovers dozens of tiny details that affect the rate for each loan product in each case; for example occupancy, seasoning, various property types, loan size, cash out, etc.
It provides the ability fine-tune the rate and commissions by using such terms as prepayment penalty, lock period, and buy up/buy down
It enables the comparison of various loan programs for the most optimal rate/terms/commissions ratio
For ARM loans, it gives the ability to select the loan with the best margins, indices, and caps, in addition to the initial fixed loan conditions
It does all of the above in real time, so now Loan Officers can qualify the borrower and submit to processing during ONE phone call! "
Wednesday, January 24, 2007
Sollen Technologies - Products
This is kind of like what Ascent Home Loans has for its system for brokers.
Sollen Technologies - Products: "Sollen Suite
Our comprehensive package of products and services enable a lender to fully automate the process of managing and communicating its loan product portfolio and pricing models. These innovative business tools pass product and pricing information from the back-office to the point-of-sale and back, allowing complete two-way communication between the lock desk and loan originators.
By utilizing Lender Online, Sollen's benchmark product, the lender is able to present fully adjusted products and rates to the originator. From there the originator has the capability of selecting a product and requesting a lock online. The lock request is then communicated back to the lender for acceptance. This enables the lender to present its entire portfolio of products with the most profitable pricing available to the originator all in a real-time, automated manner.
The pricing automation model enables lenders to automatically aggregate their investors' pricing through our web-based best-execution technology. The resulting rates can then be utlized by our RateSheet Generator to build a fully customized rate sheet. The rate sheets can then be distributed electronically via e-mail to originators at a fraction of the cost.
Adding Sollen’s Best Execution product, Market Pro-Fit, to your set of mortgage tools, gives the lock desk easy-to-use tools to maximize the profitability of every loan. "
Sollen Technologies - Products: "Sollen Suite
Our comprehensive package of products and services enable a lender to fully automate the process of managing and communicating its loan product portfolio and pricing models. These innovative business tools pass product and pricing information from the back-office to the point-of-sale and back, allowing complete two-way communication between the lock desk and loan originators.
By utilizing Lender Online, Sollen's benchmark product, the lender is able to present fully adjusted products and rates to the originator. From there the originator has the capability of selecting a product and requesting a lock online. The lock request is then communicated back to the lender for acceptance. This enables the lender to present its entire portfolio of products with the most profitable pricing available to the originator all in a real-time, automated manner.
The pricing automation model enables lenders to automatically aggregate their investors' pricing through our web-based best-execution technology. The resulting rates can then be utlized by our RateSheet Generator to build a fully customized rate sheet. The rate sheets can then be distributed electronically via e-mail to originators at a fraction of the cost.
Adding Sollen’s Best Execution product, Market Pro-Fit, to your set of mortgage tools, gives the lock desk easy-to-use tools to maximize the profitability of every loan. "
Mortgage Servicing Software
Mortgage Servicing Software
Windows based. I thought was cool about their website is webgreeter.com is like boldchat.com. You are able to chat live with a random visitor to your website. This helps close more sales.
Windows based. I thought was cool about their website is webgreeter.com is like boldchat.com. You are able to chat live with a random visitor to your website. This helps close more sales.
Tuesday, January 23, 2007
Mortgage Technology
Mortgage Technology: "ComplianceKeeper, a division of Training Pro, is intended to manage all aspects of mortgage licensing and educational data. ComplianceKeeper's core is a database and data management program, which keeps track of state-specific regulatory requirements in the mortgage industry to manage licensing and education of mortgage professionals nationwide.
ComplianceKeeper stores, monitors, tracks and reports on licensing and education information. A Web-based product geared for instant access, it profiles individuals holding licenses and the number, type and expiration date of each license for each individual. A viewing screen shows data on the number of licenses that are 30, 60 and 90 days from expiration and the system sends automatic e-mails to user-defined groups of approaching renewal dates."
ComplianceKeeper stores, monitors, tracks and reports on licensing and education information. A Web-based product geared for instant access, it profiles individuals holding licenses and the number, type and expiration date of each license for each individual. A viewing screen shows data on the number of licenses that are 30, 60 and 90 days from expiration and the system sends automatic e-mails to user-defined groups of approaching renewal dates."
Private Label - Private Brand Mortgage Pre-Qualify System
Private Label - Private Brand Mortgage Pre-Qualify System: "Private Label
Loan Pre-Qualifier and Submission System
Instantly Make Your Brokers Smarter
Mid Size and Regional Wholesale Lenders, and Branch Operators, face many challenges. You know what its like trying to improve closing ratios, contain costs and increase income.
EZdesk's low cost recruiting, retention and automation tools can help you do it!
EZoriginator technology can be BRANDED with your company name, showing ONLY Your Loan Products and made accessible directly through your website. It makes your company more competitive by allowing brokers to input their loan criteria directly into your very own pre-qualifier system and improves matching clients from your product array.
Your Branded EZoriginator portal does the initial matrix search, analysis and comparisons for the broker.
It does the math for pricing, YSP and other selections. The choices are mathematically more certain, giving consistency to the Broker's loan program selection and submission. Better results, less counteroffers, higher closing ratios, higher broker satisfaction. "
Loan Pre-Qualifier and Submission System
Instantly Make Your Brokers Smarter
Mid Size and Regional Wholesale Lenders, and Branch Operators, face many challenges. You know what its like trying to improve closing ratios, contain costs and increase income.
EZdesk's low cost recruiting, retention and automation tools can help you do it!
EZoriginator technology can be BRANDED with your company name, showing ONLY Your Loan Products and made accessible directly through your website. It makes your company more competitive by allowing brokers to input their loan criteria directly into your very own pre-qualifier system and improves matching clients from your product array.
Your Branded EZoriginator portal does the initial matrix search, analysis and comparisons for the broker.
It does the math for pricing, YSP and other selections. The choices are mathematically more certain, giving consistency to the Broker's loan program selection and submission. Better results, less counteroffers, higher closing ratios, higher broker satisfaction. "
Fha guidelines, loan originator, loan processor, fair lending training, qc file review
Fha guidelines, loan originator, loan processor, fair lending training, qc file review
Loan Originator or Loan Processor can offer FHA zero down payment loans to qualified Buyers who meet FHA loan requirements, but lack the down payment. With our down payment assistance, a qualified Buyer receives a gift up to 6% of the sales price of the home, so they to can live the American Dream of home ownership.Alliance Housing Foundation has all the key wholesale and retail lender approvals, we offer a low fee of $295.00 or $245.00 for new home builders. We also have the ability to offer gifts over 6% on a case by case basis. We are proud of our “never miss a funding” promise and we have the experience and knowledge to make our role in the transaction, seamless
HUD offers a FHA mortgage that is ideal for our program. It allows charitable foundations, such as Alliance Housing Foundation (501(c)(3) corp.), the ability to offer up to 6% of the sales price of a home as a gift, not a loan, to a qualified buyer.
Loan Originator or Loan Processor can offer FHA zero down payment loans to qualified Buyers who meet FHA loan requirements, but lack the down payment. With our down payment assistance, a qualified Buyer receives a gift up to 6% of the sales price of the home, so they to can live the American Dream of home ownership.Alliance Housing Foundation has all the key wholesale and retail lender approvals, we offer a low fee of $295.00 or $245.00 for new home builders. We also have the ability to offer gifts over 6% on a case by case basis. We are proud of our “never miss a funding” promise and we have the experience and knowledge to make our role in the transaction, seamless
HUD offers a FHA mortgage that is ideal for our program. It allows charitable foundations, such as Alliance Housing Foundation (501(c)(3) corp.), the ability to offer up to 6% of the sales price of a home as a gift, not a loan, to a qualified buyer.
National Association of Doctors
National Association of Doctors
Here is yet another MARKETING magic at work. This "association" for doctors is a marketing page(LEAD GENERATION) that comprises limited information about finances for doctors and health professionals.
The world is a beautiful place.
Here is yet another MARKETING magic at work. This "association" for doctors is a marketing page(LEAD GENERATION) that comprises limited information about finances for doctors and health professionals.
The world is a beautiful place.
National Association of Doctors
National Association of Doctors
Here is yet another MARKETING magic at work. This "association" for doctors is a marketing page(LEAD GENERATION) that comprises limited information about finances for doctors and health professionals.
The world is a beautiful place.
Here is yet another MARKETING magic at work. This "association" for doctors is a marketing page(LEAD GENERATION) that comprises limited information about finances for doctors and health professionals.
The world is a beautiful place.
Mortgage Advice and Tips
This is an interesting thought...have a web page (1-2) that gives an e-book away about the skepticism of lenders (broker, banks, direct lenders...etc.). Here is the kicker. E-books are mostly comprised of limited information that ends up plugging another product for the consumer to buy. They should call them secret marketing books.
Mortgage Advice and Tips: "Look at these numbers. Look at how much money you can save in interest payments if you can reduce just
One Half of a Percentage Point off your mortgage interest rate!
Loan AmountMonthly1 Year3 Years5 Years30 Years
$ 100,000$ 41$ 500$ 1,500$ 2,500$ 15,000
$ 200,000$ 82$ 1,000$ 3,000$ 5,000$ 30,000
$ 300,000$ 125$ 1,500$ 4,500$ 7,500$ 45,000
$ 400,000$ 166$ 2,000$ 6,000$ 10,000$ 60,000
$ 500,000$ 208$ 2,500$ 8,500$ 12,500$ 75,000
This is the difference between having a 6.5% loan and a 6.00% loan.
The information in this book can help you achieve these savings
by showing you How a Lender Gets Paid!"
Mortgage Advice and Tips: "Look at these numbers. Look at how much money you can save in interest payments if you can reduce just
One Half of a Percentage Point off your mortgage interest rate!
Loan AmountMonthly1 Year3 Years5 Years30 Years
$ 100,000$ 41$ 500$ 1,500$ 2,500$ 15,000
$ 200,000$ 82$ 1,000$ 3,000$ 5,000$ 30,000
$ 300,000$ 125$ 1,500$ 4,500$ 7,500$ 45,000
$ 400,000$ 166$ 2,000$ 6,000$ 10,000$ 60,000
$ 500,000$ 208$ 2,500$ 8,500$ 12,500$ 75,000
This is the difference between having a 6.5% loan and a 6.00% loan.
The information in this book can help you achieve these savings
by showing you How a Lender Gets Paid!"
Compliance & QC for Mortgage Brokers Made Simple™ - Fraud Prevention
Compliance & QC for Mortgage Brokers Made Simple™ - Fraud Prevention: "Correspondents and Mortgage Broker Companies and those preparing to turn Banker and apply for warehouse lines.
You NEED a written Quality Control Plan for Quality Control.
Licensing or Agency Approval
Currently a branch manager, company owner?
Setting up a compliance / QC department ?
Need a system to prevent and detect mortgage fraud
Thinking about managing a mortgage branch office ?
Going out on your own and setting up a mortgage company ?
Considering becoming a mortgage correspondent or mortgage banker?
Applying for warehouse lines?
Needing Investor - Lender Approval?
If you answered yes to any of the above - Mortgage Broker Compliance & QC Made Simple™ provides the foundation you need for creating a WRITTEN compliance and QC policy manual. Mortgage Lending Professionals, know a written QC policy is the foundation of growing a solid mortgage loan origination business.
MORE and more Lenders, Investors are now requiring brokers to have a written compliance and QC policy. All warehouse lenders require them."
You NEED a written Quality Control Plan for Quality Control.
Licensing or Agency Approval
Currently a branch manager, company owner?
Setting up a compliance / QC department ?
Need a system to prevent and detect mortgage fraud
Thinking about managing a mortgage branch office ?
Going out on your own and setting up a mortgage company ?
Considering becoming a mortgage correspondent or mortgage banker?
Applying for warehouse lines?
Needing Investor - Lender Approval?
If you answered yes to any of the above - Mortgage Broker Compliance & QC Made Simple™ provides the foundation you need for creating a WRITTEN compliance and QC policy manual. Mortgage Lending Professionals, know a written QC policy is the foundation of growing a solid mortgage loan origination business.
MORE and more Lenders, Investors are now requiring brokers to have a written compliance and QC policy. All warehouse lenders require them."
Become a Lender - Help - Prosper
Become a Lender - Help - Prosper
This company has an interesting thought process on where to sell their loans after funding. They keep the servicing (.5%), but they sell the loans to buyers on a bidding process. It reminds me of an online bidding/auction atmosphere. You can loan up to $25000 increments, but you cannot exceed a $2 million dollar total. They range the borrowers into different risk groups to help determine how much you want to bid.
As a lender, it is your responsibility to follow some basic lending guidelines when making decisions about whom to lend your money to:
Diversify: If you place many small bids among many borrowers, the risk that you will lose all of your money on one borrower is much lower than if you place one large bid with one borrower. Prosper makes diversification easy by allowing you to create "standing orders." Standing orders place bids on your behalf based on the criteria you've selected so you don't have to search for borrowers and place all the bids manually, one at a time. Learn more about standing orders.
Know the risks and bid accordingly: On all of the bidding pages, you will be shown the historical default rate of borrowers on whom you are about to place your bid, and you should factor that into your bid. For example, if you are placing bids on C-rated borrowers whose default rate is typically 3%, and you want to make a net rate of return of 6%, you should consider placing your bid at 9.5% interest (including Prosper's 0.5% annual servicing fee). You should also view the marketplace performance page to see performance, delinquency, and default data on Prosper loans.
Know your groups: Finding a dependable group can result in dramatically lower default rates. If you find a group that you have high confidence in, lending to individuals in that group should bring you a higher return. Why? Because lending to individuals in good groups should typically bring a lower rate of default
This company has an interesting thought process on where to sell their loans after funding. They keep the servicing (.5%), but they sell the loans to buyers on a bidding process. It reminds me of an online bidding/auction atmosphere. You can loan up to $25000 increments, but you cannot exceed a $2 million dollar total. They range the borrowers into different risk groups to help determine how much you want to bid.
As a lender, it is your responsibility to follow some basic lending guidelines when making decisions about whom to lend your money to:
Diversify: If you place many small bids among many borrowers, the risk that you will lose all of your money on one borrower is much lower than if you place one large bid with one borrower. Prosper makes diversification easy by allowing you to create "standing orders." Standing orders place bids on your behalf based on the criteria you've selected so you don't have to search for borrowers and place all the bids manually, one at a time. Learn more about standing orders.
Know the risks and bid accordingly: On all of the bidding pages, you will be shown the historical default rate of borrowers on whom you are about to place your bid, and you should factor that into your bid. For example, if you are placing bids on C-rated borrowers whose default rate is typically 3%, and you want to make a net rate of return of 6%, you should consider placing your bid at 9.5% interest (including Prosper's 0.5% annual servicing fee). You should also view the marketplace performance page to see performance, delinquency, and default data on Prosper loans.
Know your groups: Finding a dependable group can result in dramatically lower default rates. If you find a group that you have high confidence in, lending to individuals in that group should bring you a higher return. Why? Because lending to individuals in good groups should typically bring a lower rate of default
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