In order to increase the efficiency of loan processing and accelerating time to close, lender ad mortgage brokers are turning to technology for the management of the complete loan processing lifecycle as a support tool to their existing LOS (Loan Origination Software) systems. Mortgage Authority™ is a loan processing management application that acts as a web based central repository of loan information and supporting documents for loan officers and processors.
In addition to facilitating the creation, storage and management of borrower and loan files, Mortgage Authority™ provides the ability to interactively manage the complete lifecycle of the loan as well as the loan pipeline and commissions.
- Track and manage loan handling on a real-time basis from pre-qualification forms all the way through loan closing
- Collect and store all documentation required by banking institutions and government for loan submission and underwriting
- Create alerts for mortgage brokers and loan processors to track loan progress
- Create borrower files
- Provide different customer views for realtors, lenders and management staff
- Track and maintain status of all pending loans, including tasks completed, missing documents, etc.
- Manage Loan Pipeline and Forecast
- Track commissions and create commission reports by loan officer, loan processors, company and branch/location
- Prequalification Application to quickly connect field based Loan Officers with Back Office Processors
- Automatically calculate first and second loan estimates
- Securely store all digital documents within the borrower loan file (i.e., pre-qualifications, LOS records, inspections, proof of ID, credit reports and financial statements, etc.)
- Create loan tasks that ensure that all steps within the loan process are handled in the right order on a predetermined schedule
- Generate closing schedule
- Contain Fee data for reimbursement at closing (Courier Fees, etc.)
- Create alerts and reminders that can be sent to your email and phone
