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Regardless of a mortgage lending organizations’ size, mortgage loan software, data security solutions and automation tools and services should be able to assist with mortgage loan automation requirements. In today’s chaotic mortgage lending environment origination and document security systems need to be easily configured to emphasize a company’s special needs and increase efficiencies across all aspects of the loan origination process, allowing lenders to increase quality and productivity.

Technology-driven automation is the key to succeeding in the increasingly complex, deeply scrutinized mortgage industry. Web-based (Software-as-a-Service), Enterprise mortgage software that supports the ten primary functions in mortgage banking will provide lenders with the necessary competitive advantages to succeed in today’s mortgage industry.

Ten Primary Functions in Mortgage Banking

1. Mortgage Web site design, implementation, and hosting to provide product, service, loan status, and company information to mortgage customers and business partners
2. Online loan applications for gathering information from borrowers and business partners that issue loan terms, disclosures, and underwriting conditions
3. Loan origination software for managing loan data, borrower data, property data, general status reporting, and calculations
4. Interface systems to send and receive data from real estate service providers, such as credit reports, flood determinations, automated underwriting, fraud detection, and closing documents
5. Internal automated underwriting system that is simple enough for originators and sophisticated enough for underwriting portfolio loan products
6. Document generation for applications, upfront disclosures, business processes, and closing documents
7. Integrated imaging that is used from loan origination to investor delivery and for file archiving
8. Interest rate and fee generation along with program qualification guidelines
9. Secondary marketing data tools to track loan revenue and investor relationships, including warehouse line management and interim servicing to complete the back-office system
10. Reporting such as loan delivery, year-end fee reporting, and HMDA reporting for loan application disposition

Web-Based, enterprise mortgage software that supports the ten primary functions of mortgage banking simplifies compliance, maximizes operational efficiencies, and increases profitability.

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