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February 18, 1997 |
New Management
Reporting and Mortgage Computer in Ogden, Utah, announced today the newest release of Management Tool Kit, its management reporting and data control software for Credit Union real estate departments. "The Management Tool Kit (MTK) features five invaluable tools for real estate managers and the real estate department," says Brian Belnap, senior vice president of Mortgage Computer. MTK is first a scheduler--a tool for management to see what operating functions have happened in the department, what functions need to happen, and what functions will happen as scheduled. "For example, the Credit Union schedules late notices for printing on a certain day," Belnap says. "Through MTK, management can verify the notices were actually printed, according to the schedule set up. MTK builds a history file on all reports, dates they were scheduled to be printed, when they were printed, the time, and by whom. This tool is useful for auditing purposes." Second, he says, MTK's Computer Verify and Speed Correct features make the HMDA Reporting process a "painless, simple task. Once you've used it, you won't know how you survived without it." The Federal Reserve requires that financial institutions have a year-to-date HMDA Report available any time auditors show up at the door. "Using MTK's Computer Verify and Speed Correct features, Credit Unions comply with this new requirement and save countless hours preparing the annual HMDA Report," says Belnap. Third, says Belnap, MTK is an important part of Mortgage Computer's software for Flood Zone Determination compliance. "Loans are added to the Flood Queue in the Mortgage Banker or Loan Servicing software. From MTK the real estate department can display the Flood Queue, and examine the list of loans within the queue. Once you have verified all loans are in the Flood Queue, a Flood Submission File is created. This file is pulled in by Mortgage Computer's EDI-Plus software for electronic submission to flood vendors, like Transamerica, GE Capital, First American, or others." Fourth, MTK is a communication center, where Credit Union real estate staff may communicate electronically, and management can obtain critical information for use in production or pipeline control. Lastly, Belnap says, MTK is a data manager and file generator. "The file generator function is a powerful tool for extracting data from the various databases, for use in third-party software, such as spreadsheets and other databases. The file generator creates comma delimited text files that the real estate department may import and manipulate in third-party software." MTK is not a stand alone program--it is a key component of Mortgage Computer's MC OFFICE Software for real estate lending. For more information, |
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