- Commitment Formation and Tracking
- Trades Set-up & Maintenance
- Warehouse Tracking
- Loan Servicing
- MERS (Mortgage Electronic Registration System)
- Unfunding of Loans
Other highlighted Secondary Marketing functionality includes:
- Assignment of loans as commitments, pools, and packets to enable selling subsections within a commitment.
- Best execution and delivery of pooled loans to Midanet, Mornet or GinnieNet.
- Rate dissemination.
- Locking loans on the system and securing key fields.
- Customizable pipeline management reporting and management of trades.
- Branch level pricing, risk based pricing, profitability and fallout analyses, and market-to-market and position summaries.
- Complete MERS imbedded in the system.
- Full tracking (and reporting) of multiple warehouse banks and lines and their allocated loans with user defined criteria.
- Payment processing and administration while loans are residing in the warehouse bank.
- Standard servicing functions including payment processing, statement generation, escrow disbursement and investor reconciliation.
- Construction lending.
- Tracking unfunded loans.
- Support of lock requests and confirmations with auto-notification capabilities utilizing your choice of lock screens.
- Built-in controls to manage lock expirations, renegotiations, and extensions.
- Investor specific products and pricing can be maintained via the Product Manager.
- Managing pricing to the “street” leveraging unlimited rules for pricing adjustments via the Product Manager.
- Web-based loan registrations for immediate feedback to brokers and consumers alike making product and pricing options available 24/7.
- Interim servicing that allows for payment collection, escrow disbursements, fee allocations and payoff analysis.
- Generation of payment coupon and late notices via batch reporting.
- Support of year-end 1098 reporting of interest requirements.
- Reconciliation of fees for the loan sale between lender, warehouse bank and investor via the loan sale reconciliation task; all fees can be associated to their appropriate G/L for proper accounting.
- Management of the various “wet” and “dry” warehouse bank’s lines of credit with auto-notification when lines are about to be exceeded.
- Manage both individual and bulk loan sales via the commitment formation.
- Trade maintenance area allows for managing the many to many relationships between trades and commitments with full support of trade “pair-offs.”