Overview
MortgageFlexOne Origination supports Retail, Wholesale and Correspondent lending channels and numerous financing types (Conventional, Conventional Non-Conforming, Government, Alt-A).
Key Features
General functionality includes but is not limited to the following areas.
• Lead Management - The Lead Management screens within MortgageFlexOne Origination allow the users to save general information on their borrowers prior to having a complete application. These features allow them to save borrower information, demographic information and even preliminary loan scenarios and quotes that can all be imported into MortgageFlexOne Origination to complete an application at a later date.
• Loan Application - MortgageFlexOne Origination allows for efficient gathering of Loan Application data by ensuring that the data collected is all fed to the 1003 Application without duplicate entry.
• Processing - With the use of the integrated Image Center designed to be used with dual monitors, Processors are able to view the supporting documents on one screen and validate the data entered into the system on a second monitor. MortgageFlexOne Origination has seamless interfaces with many of the industry leading third-party vendors allowing Processors to easily order services without having to leave the MortgageFlexOne Origination application.
• Underwriting - Similar to Processing, the Underwriters use the Image Center to review the loan documents and from the same screen, will be able to add any conditions they require to approve the loan.
• Closing - Closing is a very streamlined process since all of the data that has been previously entered feeds into the closing area, instead of duplicated entries. The Closer is responsible for verifying the accuracy of the data with very little data entry required.
• Loan Document Management - MortgageFlexOne Origination has integrations with several Document Providers allowing the client to feel confident in the compliance of their documents knowing they are being managed by an industry leader.
• Shipping - MortgageFlexOne Origination allows the client to create ULDD formatted extracts for both Fannie Mae and Freddie Mac streamlining the Shipping process. The Image Center also allows users to setup individual document views or stacking orders to create zip files of all the images to be shipped to the investors in the order they require.
• Funding - When funding or voiding a loan within MortgageFlexOne Origination entries are made to all of the appropriate GL tables allowing for accurate accounting reports.
• Post-Closing - Storage of the documents in the Image Center allow the post-closing staff to easily review the loan documents. Documents that are missing or not correct will be notated with and entry in the Image Center allowing for one centralized place to track and report from.
• Secondary - – MortgageFlexOne Origination allows the users to set up Commitments and slot loans into the commitments as necessary. Loans can easily be moved from one commitment to another in bulk or loan-by-loan. A function can then be run that will update the totals in all commitments allowing for secondary to always have accurate information on where the loans are committed.
• Loan Programs - Lenders can set up unlimited loan programs within MortgageFlexOne Origination, Fixed, ARM, FHA, VA, USDA & Interest Only , etc…
• Product and Pricing Management - The integrated InRule engine allows users to create eligibility and pricing rules so that accurate loan programs and pricing can be offered to a borrower based on the information entered into the system. We have designed an easy to use expression builder to create specific Pricing Adjustment and Product Eligibility rules in the system. When a particular product is selected, all of those eligibility and adjustment rules are automatically run. MortgageFlexOne Origination allows both hard exclusion rules and soft inclusion rules so lenders can clearly define when to eliminate a product versus when to apply an adjustment or send the loan to an exception process. MortgageFlexOne Origination PPE is available on both a lead level and an application level. When a user searches for a product, all existing eligibility rules and pricing adjustments are applied. The user then has the ability to see the programs that pass the search and those that have near misses or soft rule failures. Hard rules may be defined to completely eliminate programs in certain cases. Once the products are displayed, the user has the ability to pick the program and pricing that is available.
• Business Rule Management - MortgageFlexOne Origination allows for two sets of business rules within the system. The first is the Eligibility and Pricing Rules built using the InRule engine and used for Product and Pricing. A second set of business rules or sql statements is used in setting up security in the system. Lenders automate manual tasks through the use of the rules engine that simplifies and automate processing and ordering services. Features like task automation and business intelligence are accomplished by automating workflow steps together with the rules engine and imaging center, which results in reduced labor costs while also improving quality.
• Reports - MortgageFlexOne Origination has a seamless integration with Crystal Reporting allowing the users to create reports in Crystal Reports and access them via the Run Reports screen within the MortgageFlexOne Origination application. MortgageFlex provides a variety of standard reports and a report can be created using Crystal Report writer based on any field in the database. All fields are available for reporting purposes.
• User and Application Security - MortgageFlexOne Origination supports Active Directory authentication. MortgageFlexOne Origination optionally supports application authentication as well. Within the application, user accounts assign roles, which are used to control access at the Screen level, File record and field level security. MortgageFlexOne Origination can create multiple user-defined roles.
Consumer Portal. The Consumer portal is designed to support lenders, so your branding is fully integrated from day one, giving your customers a look and feel they can trust. Loan applications and inquiries flow directly to the loan origination system. Few things are as difficult as waiting for loan approval, but MortgageFlexONE Consumer gives a borrower confidence that you are working on their loan. Borrowers can start an application, stop, save it, return to it later, and check their status as often as they like. We’ve even built in detailed mortgage calculators to help them make the right decision.
Branch Portal. The MortgageFlexOne Branch portal lets anyone at any location input leads, take loan applications, and check status. The simplified user interface allows any designated branch personnel to start a loan application, assign a loan officer, and get the ball rolling for your customer - with minimal training. The MortgageFlexONE Branch portal can be branded using your logo along with the look and feel your employees are familiar with.