How Will This Package Benefit Me?

WHAT WILL MY BENEFITS BE?

THE MORTGAGE BANKER MENU

01. The Rate Sheet (Loan Products Offered)
02. Pre-Qualify Feature
03. * New Loan - Application
04. Modify-Receive Base
05. Print Application Docs
06. Process Request/Tracking
07. Underwriting
08. Modify Data Base
09. Print Closing Docs
10. Closed Document Tracking
11. Compliance Audit
12. 2nd Mkt - Source of Funds
13. Loan Sales
14. Reports
15. Additional Features Menu
16. Funds Accounting
17. Status Update
18. Index
Central Index File
<L>CONVERSATION LOG

15. ADDITIONAL FEATURES MENU

01. *Reservation - Wholesale Operation
02. Stand Alone Features
03. Funds Allocated - Lender
04. Copy Loans
05. *New Loan - Close
06. *New Loan - Sell
07. Warehousing
08. Ins - Warehousing 632-650
09. Entry - Modify Fields
10. HMDA Reporting
11. Branch Operations
12. Transfer Loans
13. Remove Loans
14. Maintenance
15. Print Delay/Stack Docs
16. File Locator

LOAN STATUS

What is Mortgage Banker?

• Twenty-one (21) various functions designed and pulled together into one software package, including:
• Loan Origination
• Tracking
• Underwriting
• Loan Closing
• Funding and Accounting
• Selling - Secondary Market
• Quality Control
• Pipeline Reports
• Production Reports
• Automates all functions for a totally successful and efficient real estate loan production department

• Mortgage Banker is menu driven for ease of use
• Options are displayed on screens for you to select
• Function keys are used to make a selection or return to the menu
• The use of function keys increases the speed of the programs
• Function keys expand the number of available selection choices
• Menus arranged in order of most frequently used
• Selections are self-explanatory and follow the flow of processing
• Reduces the training time
• Reduces the learning curve
• Increases the efficiency and productivity of you and your staff
• Menus are designed with the same standards
• Arrangement on the screen of dates, printers, selection, and exit keys are all the same
• Move within MC OFFICE Software with little guidance

• Invest in a loan processing package that will automate all functions of mortgage lending, not just a few
• Purchase an automated package that will:
• automate all functions
• be a benefit to your company
• increase productivity
• Purchase a package that:
• provides all types of reporting, including HMDA
• does not require duplicating data into another computer system

• This is where Mortgage Computer can help you!
• MC will:
• Help Evaluate your needs, present and future
• Install hardware and software to meet those needs
• Train how to Manage a successful system over time
• Staff can be shifted. Loan data does not need to be entered many times to be checked and proofed. Staff members do not need to keep tracking sheets, loan application registers, loan closed dockets, or data from HMDA reporting.
• A company cannot use a manual system and expect productivity gains.

Increase Volume Without Increasing Staff

• Time required to re-enter the same data at each work station is eliminated.
• Increase your volume at least three times using the same staff by following MC's organizational structure for automation.
• Grow substantially without adding additional staff.
• Eliminates stop and go work flow.
• Data is moved from one package to another and is easily obtained for:
• tracking
• pipeline control
• quality control reports

• Loan data entered at the time of application is never re-entered which reduces the possibility of keyin errors
• If the terms, loan amount, points, or rate are modified, the data is kept up-to-date for:
• pipeline control
• accurate reports
• It is reported that 60% of all errors are made because of repeated manual entries of the same data. MC eliminates the re-entry of data.

• Employees' jobs are enhanced through the use of the Mortgage Banker package
• What was formerly mundane work is now more rewarding with more variety
• Let the software do the routine work of producing forms and reports
• Last minute changes and corrections are minimized
• Data for reports is complete
• Management reports are hassle-free
• Last-minute loan sales are easily done
• Employees are happier
• Improved attitude toward customers

• Laser Forms interfaced with VMP
• Forms set up by Mortgage Computer are:
• ready to use
• maintained
• accurate
• up-to-date

• Forms prepared by the software program are:
• uniform
• neat
• consistent
• accurate
• professional looking

• All data is maintained on one system
• Data transfers and down loading are eliminated
• Immediate access to all loans
• Every loan is fully accounted for in the pipeline
• Reports are more accurate

• Data entered is immediately available for all employees to use
• One central location of data for pipeline control and loan sales
• Re-entry of data to sell loans is eliminated
• Assignment of documents
• The philosophy and design of this package is:
• to sell loans to the secondary market
• to retain loan servicing
• Loans available to be sold can be:
• in process
• loans that have been closed
• loans being serviced in the Loan Servicing package
• Information is contained in one program
• Current balances are updated by the program
• Loan pipeline information is easily accessible

• Codes are set up in ScrolEx for various fields such as:
• banks address information
• creditors address information
• appraisers tax ID number

• Fields that are standard (i.e. state, city, etc.) can be preset

• Labels can be set up for each custom field

• Status, tracking, and other labels are user defined

• IRS 1098 reporting of interest and discounts collected
• IRS 1099-MISC reporting for funds paid to Appraisers is maintained by the program
• IRS 1099-S to report seller's gain or loss

• Information is displayed on the screen for quick reference
• General operation of the package is at your fingertips using MC's templet

• The package is both multi-user and multi-tasking.
• Allows multiple terminals and printers to be connected to a Central Processing Unit
• RISC base UNIX, PC, or mini-computer
• Executes different programs simultaneously

Cost Effective

The price per work station for the Mortgage Banker package is very cost effective. It may appear cheaper to purchase a small, single system to do the job, but it will not complete the job like the MC OFFICE Software.

The added cost to network, re-enter data, and lack of control is not cost effective.

In addition, Mortgage Banker offers:
• more modules (total of 21) designed together
• more features
• more functions
• more benefits
• more training
• more knowledgeable staff
• more service support

EVALUATION

MC helps you evaluate your needs before purchase of software.

INSTALLATION

MC offers a complete turn-key system with assistance to manage the process.

EDUCATION

Mortgage Computer offers workshops and conferences to train you to better utilize and manage your system over time.

FLEXIBILITY

The Mortgage Banker package offers flexibility and complete functionality for your real estate department.

INCREASED PRODUCTIVITY

In one day, a person can perform the work of two or three clerk typists.

REDUCED COSTS

The Mortgage Banker package eliminates much of the routine typing and the need for a high-paid clerical staff.

EASY TO LEARN

The Mortgage Banker package is user friendly with easy to understand menus and screen prompts.

ACCURATE

The user can easily see when a mistake is made and immediately correct it. Through single entry and pre-set constants, the program prevents mistakes that can become costly when loans cannot be funded due to errors. This is particularly important when rising interest rates can adversely affect your warehousing lines.

SECONDARY MARKET

Sixty percent (60%) of all secondary market rejections can be eliminated through the controls in the Mortgage Banker package.

EASE OF OPERATION

No special skills or background is required. Within a few days, the system operator will be performing as though he or she had been running the system for years.

LASER FORMS PRINTING

Mortgage Computer interfaces with VMP laser forms to set up all your forms for you.

EXPANDABLE

Additional hardware peripherals can be added to your computer for remote branch locations, more memory capacity, and direct on-line communications without change to the programs.

LOAN INVENTORY CONTROL

Information for loans, either in process or closed, is stored for controlling commitments and cash flow requirements.

REPORTS/IRS REPORTING

Reports of all types can be produced, such as branch production reports, loan types, location, loan registers, HMDA reports, IRS 1099-MISC, IRS 1098, etc.

REPORT GENERATOR/DATA MANAGER

You can create your own specially designed custom reports.

PROFESSIONALISM

Impress borrowers and investors with timely, error-free documents, and a consistent production of saleable real estate loans.

MANAGEMENT TOOL KIT

"MTK" is the tool to move data from many fields to the EDI-PLUS for custom reports, bar, line, pie charts, and color. This is the ultimate feature and benefit of the MC OFFICE Software.

* Having programs designed by the same author and in one combined MC OFFICE Software is a distinct advantage.

* The data to manage a company is available from all workstations within the department so you can control and manage your company more efficiently.

PRINTER

Indicated in the upper-right-hand corner of the screen display.

SELECTIONS

Displayed at the bottom left and right corner of every screen display.

(*) ASTERISK

Indicates the option where a new loan can be entered and assigned a number by the program.

FUNCTION KEYS

• a part of any menu screen
• user defined
• tailored to user needs

CUSTOM FIELDS

Set up in addition to the information provided by:
1. Uniform Residential Loan Application (1003)
2. Master Record

FORMS CONSTANTS

An additional feature that consists of 9999 lines of 70 character positions for:
• frequently used words
• your state name
• corporate phrases
• detailed sentences
• combinations of words and phrases constantly used on many forms
• provides flexibility for words that are:
• unique to you
• saving time entering data
• data is not duplicated

Every company in the business of making real estate loans prepares a rate sheet.

Types of loans offered are displayed together with:
• rates
• terms
• underwriting standards

Mortgage Banker utilizes a four-digit numeric Product Number:
• allows entry of up to 9999 different loan products
• each product can be "tied" to:
• various LTV ratios
• down payments
• interest rates
• origination fees
• discount points
• forms to print
• underwriting loan matrices
• MIP plans
• ARM Interest Index Tables
• Margin Tables
• appraisal fees
• general loan information
• Automating this function gives everyone immediate access to current information
• Greatly reduces errors in the application process

02. Pre-Qualify Feature

A Pre-Qualify feature is so a loan originator can evaluate the borrower and:
• reduce time for loan approval
• provide a "What if" scenario
• choose the best product based on the borrower's needs and financial standing

The 1003 Loan Application can be directly entered:
• through the terminal
• through the use of RAPID-APP
• transferred to the host computer electronically with a modem or diskette

Various forms are laser printed by the program, including:

• Uniform Residential Loan Application (1003)
• VOEs (Verification of Employment)
• VODs (Verification of Deposit)
• Good Faith Estimate
• Truth-In-Lending

Access to the Master Record fields is provided for:

• entry of costs
• ARM adjustment data
• MIP
• information for HMDA

• The program design follows the Uniform Residential Loan Application (1003)
• Every screen change is written to disk for storage
• Other systems lose the entire application if not completed before exiting
• To change/update a field, move to the field using the function keys listed at the bottom of the screen.
• Various types of loans can be input on the system, e.g., FHA/VA, Conventional, Firsts, Seconds, HELOC, ARM, GPM, GEM, Balloons, Biweekly, Interest only.

• Data entered is stored in the data base and can be recalled and modified
• Prior to closing and funding, the final closing costs and other data can be:
• modified
• updated
• the loan prepared for closing
• Modification of data is:
• simple
• quick
• flexible
• Supplemental information or multiple borrowers may be added from this selection.

• Provides full laser printing for documents with a professional look.
• A selection of forms is obtained directly from Mortgage Computer through our relationship with VMP.
• VMP Forms are overlaid with the data from Mortgage Banker.
• Any standard and/or special application form can be printed with the ability to alphabetize and manually key-in data, using data from:
• Uniform Residential Loan Application (1003)
• Master Record
• Custom Fields
• Forms Constants Fields
• All computations, including APR, are calculated by the program.
• The basic sets of laser forms are:
• Government (FHA/VA) Origination
• Government Closing
• Conventional Origination
• Conventional Closing
• Custom forms and company logos can also be programmed by VMP at additional charge.

• Request Flood Determination, submit to Desktop Underwriter or Loan Prospector, Mortgage Insurance
• For tracking documents needing to obtain loan approval requested by the lender
• Sixty (60) field labels set up by the user
• Lender is kept informed as to:
• the progress of the loan
• items still outstanding
• when all data has been received
• With this overall control, loans don't "get lost" or "fall through the cracks."
• Includes a special report for the borrower entitled "How Is My Loan Coming?"
• decreases the number of calls from a borrower
• keeps the borrower informed during the approval process
• Automatically inputs the date when a selected form is printed

• Required items to assure compliance
• Exception report prints a list of all documents still outstanding
• Screen has sixty (60) total fields
• Forty-five (45) separate Labels and Fields are set up in Maintenance (01.15.14.06).
• Fields 46-60 are flexible - set up labels specific to items requested for a particular loan.

• The Mortgage Banker Underwriting program assures:
• quality loans are made
• real estate loan meet established company policy prior to commitment.
• Quality loans are a result of adherence to standards and company policy for the proper evaluation and validation of loan information.

• Allows for eleven (11) Verification Headers under which each company can set up their standards to measure the loan.
• Automated Underwriter
• Freddie Mac Loan Prospector
• Fannie Mae Desktop Underwriter
• Issue Commitment Letter
• Report on Underwriting
• View Conditions

• Data entered is stored on disk and can be recalled and modified.
• Prior to closing and funding, the final closing costs and other data can be:
• modified
• updated
• the loan prepared for closing
• Costs can be shown as a charge to either the borrower, seller, or both.
• Many systems permit costs to only be paid by one.
• Includes odd days interest, fees, discounts, etc.
• Modification of data is:
• simple
• quick
• provides flexibility
• After the underwriter has approved and locked the loan, only the costs associated with the closing can be modified.
• Some of the fields cannot be changed without the Underwriter's Lock removal:
• loan amount
• interest rate
• borrower name
• property address
• Provides security and control of data

• A selection of forms for closing are provided directly from Mortgage Computer through our relationship with VMP.
• Laser Forms are overlaid with the data from Mortgage Banker
• Government (FHA/VA) Closing Documents
• Conventional Closing Documents
• Loan Sales Documents
• ARM Documents

• Feature not addressed by most systems
• Provides the ability to track documents required AFTER CLOSING
• Assures the loan file is complete
• Important feature providing a reminder of outstanding items while insuring no "loose ends"

• You need Closed Doc Tracking.
• Closed Doc Tracking reminds me!
• In processing a loan, the borrower calls to check on the loan before it is closed
• After closing, a borrower is not going to call and remind you to make sure all loan documents were filed and recorded properly.

• Feature to check and review for completed documentation after the loan is closed.
• Check if company policies and procedures have been followed
• Through Audit Control you many check to see that:
• proper documentation was used to assure you have a valid note, deed of trust, or mortgage
• the title policy shows a valid first lien with no exceptions
• proper hazard insurance is in force with an acceptable carrier
• proper disclosure statements and closing procedures were followed
• Through the re-verify function, up to 36 different criteria may be checked to ensure that:
• proper underwriting and evaluation of the loan were performed
• the property offered has value
• the lien position has priority over other liens
• Full compliance is critical especially when dealing in the secondary market
• Provides various Verification Headers under which each company can set up to a total of 300 various standards to measure the loan. The headers for the verification program are:
• Application
• Deed of Trust
• Commitment
• Title Policy
• Hazard Insurance
• Verification of Disclosures
• Evidence of Title
• Note
• Closing & Disclosure Statement
• FHA-VA-Conventional Commitment
• MIP Insurance

• Controls the allocation of secondary market commitment funds to ensure control of the pipeline.
• Delivery dates and loans are monitored to ensure the credit and/or property requirements are met.
• The program tracks when loans are closed and available within their time frame for delivery.
• A variety of reports are provided by the program:
• Pipeline Reports
• Commitment Reports
• Issued Commitments
• Secondary Market Commitments
• Uncommitted Loan Commitments
• Mark-to-market
• Averages, including weighted averages
• Commitment Tracking of lock-in dates
• Money made or lost using loan profitability

• Automated preparation of forms and documents necessary for selling the loans
• Greatly reduces costs in dealing with the secondary market
• Fannie Mae, Freddie Mac, and private investor's forms are accurately prepared
• Delivery of loans is available electronically via MIDANET or MORNET
• Set up of a tracking screen according to the stacking order of purchasing investor
• Documents tracked according to shipment and acceptance
• Accounting Sales Worksheet and Receipt of Funds for each loan sold.

• Printed and displayed reports provide management control
• Provides more than 100 pre-designed reports for use by all levels of management
• Many are "exception" reports to provide information on only those areas of concern
• Examples of the topics are:
• How Is My Loan Coming
• Application Volume
• Application Tracking Not Received
• Closed Documents Not Received
• Loans Ready to Ship
• Bench Production
• Builder Reports
• Broker Reports
• Net Cash Required
• Pipeline Reports
• Government Reporting
• IRS 1098, 1099-S, and 1099-MISC Reporting
• Data Manager, an easy-to-use report generator, provides access up to 140 fields, including all status codes, to design your own custom reports.
• Reports are designed to be displayed and printed with breaks, weighted averages, and totals.


• CUSTOM REPORTS SERVICE
• Custom programming for a nominal fee.
• We will custom write your reports for you!


• MANAGEMENT TOOL KIT "MTK"
• Data from any field can be moved, using the File Generator, to the EDI-PLUS feature, for making reports with graphs, charts, etc.

Screen Display and Features

16. Funds Accounting

• This is a tool (other software providers don't have) providing control and accounting of all funds received and disbursed.
• Included are:
• loan ledger print outs
• check writing capability
• transaction register
• trial balance information for balancing to the accounts of funds being held
• Accounting for funds is only a part of the total integrated Mortgage Banker package

Every company is accounting for the funds received at the time of application and closing.

Only Mortgage Banker offers you a total accounting package. All funds are accounted for. Funds Accounting assures loans will not be closed, funded, or funds distributed out of balance.

• Program provides fourteen (14) status codes
• Loan status tracks the loan along the path from application to closing and on to servicing or servicing released.

• Most reports break by these status codes
• They are initially defined, but can be modified or redefined by the customer.
• The (*) asterisk are auto fields where the date is entered by the program.

18. Index

• Saves time trying to find a loan
• Ascertain if an appraisal, verification, or an insurance policy belong to a loan.
• Companies use the cover of the loan jacket for making notes but are unable to find loan folders when needed.
• One package provides a quick and easy access to the data base of every loan.
• The Index provides the following ways to access the loan:
• Borrower Name
• Property Address
• Co-borrower Name
• Borrower Corporation
• Social Security Number
• Seller Name
• Case Number (FHA, VA, PMI)
• Co-seller Name
• Seller Corporation
• Using the function keys from the Index screen, the following can be viewed for any account:
• Underwriting Conditions
• Loan Status, Review Data Base & Conversation Log
• Outstanding Application Tracking Items
• Outstanding Closed Document Tracking Items

• An excellent index to know if a borrower ever made application with the company
• Central Index File indexed by the Social Security or Tax ID Number
• Indicates which MC OFFICE Software package the data was entered in and if the loan is currently active

CB

Indicates if a co-borrower or co-signer.

PGM

In which MC OFFICE Software package the loan was entered.

POOL:CERT/
ACCOUNT NUMBER

The number in the loan was entered in that package (PGM).

DATE REMOVED

If the loan is no longer active (closed or paid off) the date it was removed.

<L>CONVERSATION LOG

• Conversions
• Messages
• Correspondence
• Entered, stored, and printed
• Comments can be modified
• Comments can be printed

• Additional features and functions menu included in the Mortgage Banker package.

• Takes reservations or wholesale loans where the loan application is being processed elsewhere.

• Direct way to enter data without entering loan number to prepare:
• VOEs
• VODs
• FHA Appraisals
• Data is retained, by terminal, in the program until replaced by the next entry.

• Controls the allocation of funds to builders, production officers, and other companies.
• On-line inquiry and reports for delivery dates and funds committed or allocated.

• Unique time saving feature for processing loans that are common to:
• builder
• condo
• PUD
  
• Master data base can be entered and copied.

• Companies not processing their own loan applications can enter data from this selection
• Closing Documents are prepared
• Loans funded
• Closed document tracking initiated

• Selection for companies to purchase loans to market
• Minimum data base is entered
• Loans are marketed and controlled by the Secondary Market programs

• To set up the Bank Warehouse Credit Line. Warehousing terminology, as used by Mortgage Computer.
• Use this program to track the cost of funds for cost center control for companies not using bank warehousing credit lines.
• Warehouse Credit Line loans are controlled.
• Interest is computed through this feature.

• Additional information for Insurance
• Required for assigning loans to a bank Warehouse Credit Line

• Additional information required for HMDA statistical reporting

• All required HMDA Reporting is produced
• Stay in full compliance
• Excellent verification features and functions!

• Provides for companies with branch sites to use the Mortgage Banker software
• Data from branch is automatically transferred to home office via modem

• Provides automatic link to transfer loan data from the MORTGAGE BANKER package to the LOAN SERVICING package and/or CONSTRUCTION package.
• Reduces the chance for errors
• Reduces the time to transfer loans to servicing

To remove a loan from the package when it has been:
• Withdrawn
• Declined
• Closed
• Funded and brokered
• Remove with no History
• Remove from History

• Flexibility
• Twenty-eight selections
• Modify and tailor programs
• Handles unique situations regarding loan types or geographical regions
• Designed to create tables for frequently used standard information:
• loan processor numbers
• branch names, appraisers, real estate agent names, interest index and margin tables. In addition with the ScrolEx capability, databases for financial institution names and addresses for both assets and liabilities, approved appraisers and employers can be maintained to speed up the entry of a loan application.
• Standard Fields set up where commonly used data is entered.
• Pre-set labels and cursor stops

• Documents sent to a file that can be printed at a later time

• Convenient, time saving, and quick way to locate a file
• Status Screen displays operator name and terminal number of who has loan folder
• Tracks the loan file by terminal
• Records length of time loan file is at each workstation
• MANAGEMENT FLOW CONTROL REPORT to gain better control and improve processing time.

• To look at the status of a particular loan using the Mortgage Banker Index.
• <S>STATUS option displays:
• all pertinent loan information
• the number of outstanding items in both application and closed doc tracking

To quickly review the pertinent information about a loan.
• Displays data from fields in:
• Master Record
• Loan Application Tracking
• Closed Document Tracking
• Loan Status
• Data from the Master Record displays the Funds Allocated Number if assigned to a commitment issued.
• Secondary Market Commitment Number is displayed if assigned to a secondary market commitment.
• The Date Warehoused and the Warehousing Interest Rate are also shown, along with who has the file.