Mortgage Loan Origination Software – 10 Functions of Mortgage Banking


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 nowadays’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 outright 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 essential competitive advantages to succeed in nowadays’s mortgage industry.

Ten Primary Functions in Mortgage Banking

  1. Mortgage Web site design, implementation, and hosting to supply product, service, loan status, and company information to mortgage customers and commerce, trade partners
  2. Online loan applications for gathering information from borrowers and commerce, trade 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, commerce, trade 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 total the back-office system
  10. Reporting such as loan delivery, year-conclude 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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