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A Guide from MC Customer Support - April 1998

MB Pipeline Report

I was encouraged during the Annual Conference when so many were asking how certain reports can work for control of the work flow. One of the fundamental benefits of automation is the ability for the computer to compile data and present it in the form of reports. MC OFFICE Software does a tremendous job with reporting capabilities.

Before you can start using some reports, the data base will probably have to be cleaned up, and you may have to start using parts of the data base you haven't used before. Don't let this discourage you. The small amount of work required to prepare the program will be well worth the effort when you begin enjoying the benefits. It is important you become familiar with the data that makes up the report. Then, manage the operation to assure the data is correct and the reports are accurate.

The report I want to discuss is the Mortgage Banker Pipeline Report (01.14.02.21). This report groups loans on the basis of the 14 Statuses. These Statuses are used to indicate where in the pipeline of processing are the loans. Are we still waiting for verifications, is the loan at the Underwriter, are there Closing Documents prepared, etc. This report prevents loans from falling through the cracks and being ignored. This report helps to plan your work-day by deciding what loans need your immediate attention, and which loans just need to be monitored.

Set up the Status Labels
The labels for the Statuses are set up in the maintenance area of MB (01.15.14.01.01). There are seven Statuses for Before Closing and seven Statuses for After Closing. You need to decide exactly how the labels should be set up at your company to identify check points along the process. The Hedge Coverage Percent, Commitment Coverage Percent, and the Cash Required Percent is used to "hedge" certain reports by acknowledging all loans in your pipeline will not close. This program is designed to indicate the likelihood of a loan closing by the Status. Be sure to complete these percentages accurately.
Identify in Which Status Your Loans Belong
You have to input the date in the Status that corresponds to the location of the loan in your pipeline. This date can be input in the Status Update screen at (01.17). The Pipeline Report will show the loan in the highest Status with a date in it. Once the loans are in the correct Status, your Pipeline Report will be accurate.
Using the Software to Keep the Report Accurate
This is the most important step in the process. The program is designed to automate most of the Statuses, and the dates will fill in automatically as the loan moves through your pipeline.


You must understand what functions cause dates to be automatically entered, and commit to using those functions.


You will notice that some of the Statuses have asterisks (*) next to them. The asterisk means the date in that Status is automatically filled in if you use the function that causes the date to fill in. Listed below are the auto-fill Statuses and its corresponding function:

    01. *APPLICATIONS TAKEN

    02. *APP DOCS BACK

      By using the Application Tracking screen (01.06), this Status will automate. When a Received Date is entered for the LAST open Requested item, that date fills in Status 02. This indicates all information has been received.

    06. *LOAN APPROVED

      When the Underwriter approves the loan (01.07.10), or when Field 301 of the Master Record is completed, the date is entered.

    07. *DOCUMENTS PREPARED

      This date automatically fills in when a date is input into Field 313 of the Master Record. This indicates closing documents have been prepared.

    09. *LOAN CLOSED FUNDED

      In Funds Accounting, when the Funding Ledger has been balanced and is ready to be disbursed and closed, the Funding Clerk inputs an approval code and a date (01.16.09). This is the date that fills in Status 09.


It is essential this status is completed because all productions reports pull from this status.


Using the Funds Accounting program, you automate Status 09 and all your Production Reports.

    10. *CLOSED DOCS BACK

      This Status works like 02. *APP DOCS BACK except it works off Closed Documents Tracking (01.10).

    13.* LOAN SHIPPED

      In Loan Sales (01.13), when you mark a loan to ship and create a file to download (e.g., to MORNET or MIDANET), Status 13 is filled in.

    14. *LOAN SOLD

      When funds are received from the investor, you update Status 14 for all loans in a commitment.

In order for the Pipeline Report to continue to be useful, it is important you remove loans on a regular basis. Refer to the Operating Schedule Guide in the MB Loan Processing section to make sure you are regularly performing all the necessary "housecleaning" functions.

If you have not been using the Pipeline Report and you want to start, refer to the October 1, 1997, Special Edition of Coach's Corner for procedures to remove old, closed, or denied loans that will clutter the report.