MC OFFICE Software IMPLEMENTATION
Updated June 23, 2004 at 10:14 a.m.

STEPS TO AUTOMATION

MORTGAGE BANKER

LOAN SERVICING

SYSTEM REQUIREMENTS

APPENDIX

STEPS TO AUTOMATION

Organize the Department for Automation

Management Must Plan

You cannot automate a manual system. Automation requires a reorganization and change of work flow. Adapt to the automated way of processing, servicing loans, tracking documents, document preparation and reports. Implement the total solution offered by Having It All Together.

Having It All Together requires that all employees march to the same drum beat, and use 100% of the packages. When all staff persons adapt to using the packages, then efficiency, control, accuracy of reports, and use of the packages will be positive and beneficial.

Experience has shown that a rigid organizing of your mortgage department in addition to spelled out specific responsibilities is essential for successful automation.

Training

Training can be at MC OFFICE in Ogden, Utah, or via WebEx. If using WebEx, be sure you have Internet access and call MC Support to install the "New User" plugin. You will receive instructions on HOW TO use the various packages.

It is important that someone from management attend these sessions to understand the capabilities of the software programs. They have the authority on HOW TO set up the department.

Implementation

Software Installation

The hardware, including all printers and terminals, must be installed prior to the installation of the software.

Use the MC OFFICE Software Programs

Establish a Work Flow

Organization of the Real Estate Department, making assignments, and preparing the staff are your responsibilities.

Management Responsibility

Have all the preparation work done before the installation date.

Please provide time with no interruptions. For those who will be using the packages, allow time from normal assignments for them to learn the features and functions of the packages.

Following the above steps, the success of an automated system and the benefits derived therefrom will be realized quickly.

Set Up Mortgage Banker Package

Standard Fields and Maintenance Data
Standard Fields are data used on most loans. The Good Faith Estimate information contains these Standard Fields and uses them as Standard Fees.

PMI-Agency and Company Plan (39)

    The Mortgage Banker program will calculate your mortgage insurance premiums provided the information is entered into the system properly.

Loan Originators / Interviewers (44)

    CODE NUMBER: (3 digits maximum)
    LOAN ORIGINATOR'S NAME:
    TITLE:

Loan Processors (45)

    CODE NUMBER: (3 digits maximum)
    LOAN PROCESSOR NAME:
    FLAT FEE PER LOAN:
    PERCENT (%) OF LOAN:

Underwriters

    CODE NUMBER: (3 digits maximum)
    ID NUMBER:
    UNDERWRITER OFFICER:
    FLAT FEE PER LOAN:
    PERCENT (%) OF LOAN

Funding Clerk

    CODE NUMBER: (3 digits maximum)
    FUNDING CLERK:
    FLAT FEE PER LOAN:
    PERCENT (%) OF LOAN:

Quality Control Auditor

    CODE NUMBER: (3 digits maximum)
    AUDITOR NAME:

Trustee (306)

    CODE NUMBER: (2 digits maximum)
    TRUSTEE NAME:
    STREET ADDRESS:
    CITY, STATE, ZIP:

Title Company (84)

    CODE NUMBER: (3 digits maximum)
    TITLE INSURANCE CO. NAME:
    TITLE OFFICER NAME:
    STREET ADDRESS:
    CITY, STATE, ZIP:

Escrow/Settlement Company (87)

    CODE NUMBER: (3 digits maximum)
    ESCROW/SETTLEMENT CO.:
    AGENT OFFICER NAME:
    STREET ADDRESS:
    CITY, STATE, ZIP:

Settlement Agent (310)

    CODE NUMBER: (3 digits maximum)
    SETTLEMENT AGENT:
    CITY, STATE, ZIP:
    NAME OF SETTLEMENT AGENT:
    TITLE:

ScrolEx

    ScrolEx is the exclusive Mortgage Computer feature offering window boxes that will display data to select information at various points when entering an application. Selecting an option enters the information without typing.

    Provide a list of companies that are frequently used. Follow this format for:

    • Banks, Credit Unions, Financial Institutions
    • Employers
    • Creditors - Retail Stores, Financial Institutions

    NAME:
    ADDRESS:
    CITY:
    STATE:
    ZIP CODE:
    PHONE:

Appraisers/Inspector/Other

    CODE NUMBER:
    NAME:
    COMPANY NAME:
    LICENSE NUMBER: (12 digits maximum)
    ADDRESS:
    CITY:
    STATE:
    ZIP:
    PHONE:
    TAX ID NUMBER:
    FAX NUMBER:
    E-MAIL ADDRESS:

Closed Loans

Have loans that have closed, but you are waiting for documents to come back. These few loans will be entered first. Have a list using the Closed Document Tracking Screen as a guide and indicate what documents are outstanding for each loan.

In-Process Loans

Have all loans in-process ready to be entered. If the 1003 Uniform Residential Application needs to be printed again, start as a new loan.

Application Tracking

Have all Application Tracking items that have been requested but not received listed to be entered using the guide as shown in the Application Tracking program.

New Loans

Have new loans that have not been set up yet for processing ready to be entered.

Funding Ledgers

Set up Funding Ledgers for borrower funds held in escrow. Move all funds into the Custodial Account and balance to the Funds Accounting Trial Balance.

Print Documents and Reports

Forms Order

Laser Printing

Laser Forms

Set Up Loan Servicing Package

Accounting
______ Print GLs (07.09.02). Review with accountants along with information from the Payments section of the manual to be sure the proper GL account numbers have been assigned to each account. A separate set of GLs will be set up for each Control. Control numbers represent a specific investor or type of loan.
______ Set up Custodial Accounts for escrow funds or P&I funds if servicing loans for investors.

Maintenance
______

______
______
______
______
______
______
______

 Review Company Name (09.03)
  • Address in Field 8 will be printed on coupons.
  • Check Tax ID Number
  • FNMA Number
  • FHLMC Number
  • VA Number
  • GNMA Number
  • Web Address
______ Set Controls and Investors (03.25.03) and (03.25.04).
______ The Command Date should be set for the next time you want to run Escrow Interest Accrual Payable. If you do not pay interest on escrows, this should be a future date. There must be a Command Date (03.25.09).
______ Review the County Codes (09.02.<F5>) you have loans in. This will be used as a guide for setting up Escrow Tax Dealers.
______

Set up all Escrow Dealers (03.25.06).

______ Review Index Tables (09.09). Set a table for each index you use for ARM loans and sufficient history for each.
______ Set default printers (09.07). Each number represents the terminal number.
______ Printer Codes (09.08) add all printer names for each printer used on MC. Define whether a laser printer (H) or line printer (A).
______ Review Standard Fields. Print through (03.25.12) and (03.13.27). Check the verbiage to be sure it is what you want your borrowers to see on the various forms, letters, and notices. Be sure the Controls and Investors you need are set up. Custom fields may be set as you choose except the following, which are reserved: 75 Discount/Points, 118 Sales Price, 119 Purchase Date, and 163 Previous Number.
______ Set Tracking Labels (03.18.04) to be the items most typically still outstanding at closing on your loans.

Converting Existing Loans
______ If you are keying in the loans you are converting, fill out a New Loan Setup Sheet for each loan to be converted.
______ Key in data on data entry sheets through Enter Loan Manually (03.22.03). Mark the file and the data entry sheet with the new number.
______ Keying in the loans can take several days. Payments could have been applied on another system since the balances were entered. Don't worry about having the correct principal balance (Field 21) or escrow balance (E-09) entered. These fields can be modified quickly to match current balances using Implementation (09.12.06.08.22) just before going live.
______ Prepare an adding machine tape of the total of the principal balances and the escrow balances for a small group of loans. Enter a group of loans through Enter Loans Manually (03.22.03) and update the Transaction Group. The total of the Transaction Group should agree with the total on the tape. If they do not balance, a key-in error has occurred. Make modifications to be transactions until they balance. Close and update the Transaction Group. Continue small groups until all loans are entered.

Balance
______ Run a Trial Balance on your old system and a Trial Balance on MC (03.17.06). Compare principal balances, escrow balances, partial balances, and loan count. Make modifications if necessary. Run a new Trial Balance on MC until the two Trial Balances agree.
______ Also, look down the columns for due date, interest rate, and percentage of ownership. Make sure data is logical.

Master Record
______ If converting loans calculated on a 365-day year, Initialize Interest Due Table (09.12.06.08.20).
______ Print a Master Record for each loan (03.22.04). Review data for accuracy. This will be your record of how the loan was converted. Store the printed Master Record in each loan file.

Document Tracking
______ Complete Document Tracking for any loans with outstanding items or documents (03.18.01)

Pinpoint Key-in Errors
______ Run the Management Exception Report (03.21.01). This will pinpoint key-in errors or incorrect dates like maturity dates in the past, 90 days or more delinquent, past due escrows, etc. Research each exception and correct if necessary. Initial each column.

Locate Escrow Errors
______ Run the Escrow Exception Reports (03.12.18). This will locate possible key-in errors like accounts set to pay but no constant being collected, etc. Research each exception, initial, and correct if necessary.

ARM Exception Report
______ Print the ARM Exception Report (03.19.09). Review each exception and correct if necessary.

Coupons
______ Print coupons (03.17.01) and mail out if necessary. The program will load the loans into the print queue automatically when the loan is keyed in.

You are now ready to use the Loan Servicing package!

SYSTEM REQUIREMENTS

Printers

Terminals


Please keep the following information at your site.


Supported Systems

UNIX

Networks

Terminals/Workstations (UNIX)

Printers


A high speed printer is acceptable as a report printer, Data Products and Printronix are common brands. MC cannot support all brands of printers but will give aid where possible.


Mortgage Banker printer requirements

Loan Servicing printer requirements

Mortgage Banker and Loan Servicing combined printer requirements


Depending on the size of the organization, more printers may be necessary. The check printer for MB and the check printer for LS can be the same printer. These represent the recommended minimum amount of printers required by Mortgage Computer.


Modems

Communication

Disk Space Requirements

Directory Structure

Installing the Hardware


Cable Configuration for a Terminal to a Host PC, DG MV,
or IBM RS6000 System. Same cable for a printer.


Some of the pins are jumpered together. They are the ones with the smaller line boxes next to them. Also, PC uses a female end on the terminal of a male end.


RS232


Cable Configuration for a Terminal to a Host IBM RS6000 System. Same cable for printer.


Some of the pins are jumpered together. They are the ones with the smaller line boxes next to them. Also, PC uses a female end on the terminal of a male end.


RJ45

Cable Configuration for a terminal to a Host Data General AViiON System. Same cable for a printer.


On a printer pin, 6 on the HOST end needs to be moved to pin 20.



This is the cable to be used on the back of the CPU to a modem.


Cable Configuration for a terminal to host Motorola Unix System. Same cable for a printer.


Some of the pins are jumpered together. They are the ones with the smaller line boxes next to them.


Is the Computer Room Ready for Installing the Hardware?

Location of Terminals

Location of Printers

Storage Area

Supplies Needed

APPENDIX

Initial Supply of Forms

MC Conventional Origination Forms

MC Conventional Closing Forms

MC Government Origination Forms

MC Government Closing Forms

MC ARM Plan Package 1

MC ARM Plan Package 2