Mortgage Lending Software

Mortgage lending software is one of the commonly used software in financial lending organizations such as banks, and other financial institutions. The software is an excellent management tool that has been developed from scratch. The process involved working directly with customers in the industry, examining their most common working processes and best practices and then incorporating these factors into the actual software.

The software automates all processes related to mortgage lending such as loan application (form 1003) and loan transmittal (form 1008), underwriting (e mail loan approvals and tracking conditions), loan approvals (closing documents and loan funding), and post closing (shipping, trailing docs, insuring and file room documentation). It also automates secondary marketing (lock tracking and investor locks), accounting (payment tracking, form 1098 & 1099, and commissions), and quality control (HMDA, LAR Reporting and broker management).

The software has different settings that can be used to customize different types of mortgage lending activities with the help of investor, broker, loan rep, warehouse line, appraiser, and closing services tables. The software generates professionally designed letters, forms, and reports to make a good impression on the customer. It provides wholesale business companies all the necessary tools for broker management such as license tracking and pipeline reports.

The software provides a comprehensive database for all mortgage-lending operations of a company and has more than hundred pre designed report formats for generating different types of mortgage lending reports. The software has built in security features including field level ?audit logging and business rules for maximum data security. The software provides key interfaces with other software products such as HMDA geocoding and reporting, accounting system links, warehouse line, MERS registration, and secondary risk management.

Minimum hardware requirements for the software are windows based PCs with 32 MB RAM. It is compatible with all versions of windows operating system (95, 98, 2000, ME, and XP), and provides full Microsoft database support such as Microsoft visual FoxPro and Microsoft SQL server.

The Current Scenario of Mortgage Outsourcing Industry

The mortgage industry is facing a tough competition to meet the rising challenges of the business and the market. The recurring nature of the industry is creating cost pressures, while intense competition is emphasizing players to address the new market opportunities. Besides, top organizations exhibit a number of distinguished characteristics. One of which is focusing on developing innovation, mastery and differentiation in the core business areas.

Entrepreneurs need a comprehensive suite of business process management solutions that can meet the specific needs of the business.

Business challenge

With lower loan volumes and increased pricing pressure, entrepreneurs find it difficult to remain competitive. Clients need to cut costs across the mortgage lending function. In addition, high error rates drive major issues in loan scalability and investor reporting, delaying the overall investor delivery process.

How mortgage outsourcing can help?

To overcome these challenges, outsourcing is considered as a strategic solution for the mortgage industry. Outsourcing makes businesses flexible, agile and future-ready for changing market conditions.

Outsourced solutions address the needs of brokers, lenders, organizations and consultants in this industry. Service providers enhance business value of the non-core post-closure mortgage functions. These vendors lower costs and allow banks and financial institutions to focus on their core business processes.

Service providers offer end-to-end, technology-based outsourced solutions and a global delivery network for quality control, indexing and allowance processing.


By leveraging years of mortgage industry expertise, service providers identify the loan processes that need to be outsourced and help entrepreneurs to methodically transit and optimize them. These vendors offer a flexible business model that allows enterprises to scale operations and increase flexibility, providing a business competitive edge and better customer experience.

Business outcome

Service providers deliver the right solutions to transform and scale the loan processes in order to reduce the price, improve customer service, mitigate compliance risk and ultimately transform the borrower experience.

The post-closure BPO solutions help clients to meet the continued growth targets with an approximate 30 percent rise in the profit margins. Banks and financial organizations achieve the following benefits:

Improvement in loan processing and servicing
Enhancement in loan availability and sales process
Reduction in data reliability issues
Decline in time from closed loan to receiving of paper file
Decline in time from receipt of paper files to completion of the audit
Addressing document recovery requests timely
Decrease in supply cost
In addition to the above improvements, clients are empowered to leverage the investment made on new retail mortgage loan processing systems, on outsourcing and on servicing funded loans.

In today’s fast-paced market where precision matters, entrepreneurs need an agile partner who can help enterprises stay ahead of the technology curve, stabilize resource issues and keep pace with escalating regulatory and compliance demands. This is why more and more financial enterprises are opting for mortgage processing services.

How a Forensic Mortgage Audit Helps You

Many American homeowners are facing losing their homes due to economic factors beyond their control, or life circumstances which pull them into a financial vortex that is impossible for them to solve alone. Worse yet, it is reported that up to 85% of home loans have errors which entitle the home owner to receive a monetary reward from the lender, and rarely any of them know about it. The problem is how to get the loan companies to pay you what you are due.

What good would a forensic mortgage audit do for you?

With much of the mortgage industry lacking any quality control whatsoever, an extremely high percentage of loans have procedural flaws in them, or violated the customers right to disclosure and inquiry in some way or another. What this means for you is that when you get your mortgage audited, you will find out just how your mortgage company exploited your lack of knowledge regarding the mortgage and how they may have violated your rights doing so.

Who can benefit from a forensic mortgage audit?

Anyone who is seeking a mortgage modification will benefit from a forensic mortgage audit because they will have a much higher likelihood of receiving their mortgage modification they have requested once the errors the mortgage company made in completing the loan are revealed. The lender would much rather grant the modification than confront the wrong they have done with the loan.

Finally, a second group of people who will benefit from the audit is anyone who is losing their home. Most of these people have the money to pay for the audit, even though it is guaranteed free if it does not reveal any wrong doing, by taking the money they would normally pay on their home and allocating that for the audit. They stand to benefit by receiving money back for the wrong doing by the lender. Most homeowners are unaware that they are due the money and the lender will not tell them, that is for sure!

FHA Quality Control Plan Guidelines – Become FHA Approved

Before your organization can become FHA approved, HUD requires that you submit a quality control plan in writing. This quality control plan must be fully functioning from the date of your initial FHA approval. You can find basic requirements for a quality control plan in chapter 7 of the HUD Mortgagee Approval Handbook 4060.1, if you choose to write the plan yourself. Alternatively, you can purchase a quality control plan from a third party. The third party should ask some basic questions to make sure the quality control plan they create is tailored to your specific circumstances.

To help mortgage lenders and brokers understand HUD’s quality control plan requirements, below is a summary of some of HUD’s requirements (mostly in the context of Single Family production). (For full guidelines, see HUD Handbook 4060.1.)

Goals of Quality Control

HUD requires that quality control programs meet the following goals:

· “Assure compliance with FHA’s and the mortgagee’s own origination or servicing requirements throughout its operations;

· Protect the mortgagee and FHA from unacceptable risk;

· Guard against errors, omissions and fraud; and

· Assure swift and appropriate corrective action.”


Your quality control functions may be performed by in-house staff, but only if those employees are properly trained and do not have part in the origination or servicing. They cannot be involved in the day-to-day processes they are reviewing. This means that if you choose to do your quality control file audits in-house, you need to set up a unit that is dedicated solely to quality control.

As an alternative, you can outsource your quality control function to a third party. If you choose to outsource, HUD requires a written agreement between the third party and your organization. HUD also states that you are responsible for making sure that the third party is meeting HUD’s requirements.


You are also required to perform quality control reviews (audits) on a regular and timely basis. If your organization closes more than 15 loans in a month, your audits need to be performed at least monthly. If you close 15 or fewer loans monthly, you can perform your audits quarterly. To meet HUD’s deadline, the quality control file audits need to be completed within 90 days of closing.


As part of your quality control plan, the loans you review should be a representative sample, to evaluate accuracy and adequacy. The general rule is that you should audit 10% of your FHA loans. In addition to that 10%, you must also audit 100% of the loans in early payment default. These are defined as loans going into default within the first six payments. Furthermore, you need to make sure that you are reviewing all aspects of operation, including auditing loans from all branch offices, loan processors, loan officers, underwriters, etc. If you do a significant amount of work with certain appraisers, real estate companies, and builders, you should also review their work.

Documentation and Verification

For each loan being audited, HUD requires that certain documents be reviewed and confirmed.

a. New Credit Report – HUD requires that you order a new credit report for each borrower whose loan is under review, unless the loan is a streamline refinance or was processed with an FHA approved automated underwriting system.

b. Re-verifying Documents – you need to re-verify certain items of documentation, such as the borrower’s employment or funds to close.

c. Appraisal Desk Review – except on streamline refinances and HUD Real Estate Owned sales, a desk review of the property appraisal must be performed for every audited loan. Furthermore, HUD expects field reviews to be performed on 10% of the loans you audit. Generally, select loans for field review if there are any issues with the desk review, such as discrepancies or items of suspect.

d. Occupancy Re-Verification – If the occupancy of the subject property is suspect, try to verify that the borrower is actually occupying the property. If the owner is not occupying the property, you need to report this in writing to HUD.

Site Review

All offices that originate or service FHA loans must be reviewed to make sure they are in compliance with FHA requirements. These offices include traditional or nontraditional branches and direct lending offices. For offices with certain higher risk criteria, annual visits are mandatory. For other sites, you can determine how often is appropriate for you to visit.

During the visits, items to be reviewed include such things as making sure the office is properly registered with FHA, the address is current, the office is professional and business-like, walk-in customers can clearly identify the office, you offer toll free lines or accept collect calls from borrowers, each office is sufficiently staffed with trained employees, the office procedures are appropriately revised to reflect changes in HUD policies, and so on. Furthermore, you must check at least semi-annually that no employees are debarred, suspended, or under Limited Denial of Participation.

Reporting and Corrective Action

Once the quality control file audits are complete, management must be notified of any findings within one month. Management should then create a report which contains any actions being taken based on the findings, a timetable for their completion, and any necessary follow-up actions. You do not need to report insignificant findings to HUD. Submit your findings to HUD (in writing) only if there are findings of fraud or other significant violations. Such findings need to be reported to HUD within 60 days of their initial discovery.

File Retention

Keep your quality control review report and the follow up on file for two years. This includes findings from the audit, actions taken, and procedural information.

Quality Control Guidelines Summarized For Fannie Mae, Freddie Mac, and FHA

Many investors and agencies, such as Fannie Mae, Freddie Mac, and FHA, require its lenders to have an active quality control plan in place. The reasoning is that quality control will help ensure that the loans are of high quality and in compliance with laws and regulations, including the agency’s guidelines. Quality control also helps prevent unnecessary errors and fraud.

More agency guideline changes may be forthcoming in 2010, but the current quality control guidelines for Fannie Mae, Freddie Mac, and FHA are similar. We have compiled a very general summary of these guidelines, mostly in the context of single family. For complete details and rule exceptions, refer to HUD 4060.1 chapter 7, Fannie Mae Single Family Selling Guide section D1, and Freddie Mac Single-Family Seller/Servicer Guide chapter 48.


A large part of your QC program is performing quality control reviews (audits). The general rule for Fannie Mae, Freddie Mac, and FHA is to audit a random 10% selection of your closed loan files. This 10% sampling needs to reflect an accurate representation of all your loans, which means including files from different underwriters, appraisers, etc. In addition to this 10%, FHA also requires reviews for all loans going into early payment default.


To avoid any conflict of interest, Fannie Mae, Freddie Mac, and FHA all require the staff performing your QC to be independent of the processes they’re reviewing (such as origination, production, underwriting, and closing). This means that if you choose to perform your quality control in-house, you should have a separate department dedicated to quality control. However, you must ensure that the staff is properly trained to perform quality control audits.

Alternatively, you can outsource your quality control audits to a third party, such as Mortgage Compliance Advisors, LLC. For some organizations, this may be more cost effective than staffing and training a separate QC department. If you choose to outsource, HUD requires that you have a written agreement with your third party. Furthermore, you are responsible to ensure that the third party is meeting the agency guidelines.


Fannie Mae, Freddie Mac, and FHA want to make sure that you are frequently completing your QC audits, as outlined in your quality control plan. The specifics vary among the agencies, but the principle of timeliness is the same.

FHA guidelines:

- Audit monthly, if closing more than 15 loans per month

- Audit quarterly, if closing 15 or fewer loans per month

Fannie Mae guidelines:

- Audit monthly

Freddie Mac guidelines:

- No specified time – every loan must have chance of selection for audit within 90 days of Note Date


Part of the QC review includes re-verifying documentation. With a few exceptions, the requirements are essentially the same for Fannie Mae, Freddie Mac, and FHA. Some very general items to be re-verified include:

1. Credit report – For each loan under review, you need to order a new credit report from a different source than the original, to compare the two. For the exceptions to this rule, refer to the appropriate handbook or guide.

2. Income, employment, and asset information (such as source of funds) – This re-verified information should be compared to the original source of documentation.

3. Appraisal – For 10% of the loans selected for the QC audit, you need to perform a field review. The remaining 90% require appraisal desk reviews (except for FHA streamline refinances and HUD REO sales).

4. Underwriting decision – Make sure to review the accuracy and quality of the information used to support the lending decision.

After the Audit

Once the quality control audits for a specific period are complete, findings from the file reviews should be reported to your company’s management. Management should document and take any necessary actions to ensure compliance. After reporting to management, FHA requires you to retain your quality control reports and the follow-up for two years. For Fannie Mae and Freddie Mac, you should retain them for three years. You do not need to report to HUD, Fannie Mae, or Freddie Mac unless there is evidence of fraud or serious violations.

How To Get A Mortgage Quality Control Plan

If you work as a loan officer or mortgage broker on the internet mortgage leads market, there are times when it would be wiser to look for quality leads instead of looking for them in quantity. If you take this last option, you can get a lot of leads for your money, the bad thing is that these leads have been recycled or sold from one lead business to another. Some of them can be from last year, so you must keep in mind some quality control standards.

If you decide to buy your internet mortgage leads based on quality, it may be likely that you will not get as many leads as in the previous case, but the good thing about it is that you will get real time leads or fresh leads. This means that you usually will receive the lead as soon as the prospect applies.

Anyway, it would be good if you do some research before opening an account with an internet mortgage lead business which specializes in real time leads. First make sure that the lead company you have selected is the owner of the websites which they use to get their leads so you can be sure that the leads are fresh, if not it is likely that those leads will be some days old, quality control management software might be of great help for that.

Also you must ask about their return policy and what will it cost to start. The best thing you can do is looking for a business that requires just a low minimum deposit to open an account. The customer service and call center quality control is important too, if it is not possible to get a fast answer from them, you should look for the next lead company or you will get a poor service when you have a problem or need to request a refund.

The key for a good mortgage quality control plan is the research and looking for quality control measurement. Your money does not come easily, so you must be sure to spend well your money when you are purchasing leads.

Mortgage Field Services: Automated Data Processing

Mortgage field service companies who hire independent contractors need automated data processing software in order to remain competitive in the field services business. A service company with a dozen or more clients needs to provide a way for their subs to download and submit their inspection to just one website or program. Bombarding your reps with dozens of websites, programs, and systems will only lead to high turnover rates.

Mortgage companies and Banks will send work orders to Mortgage Field Service companies for various reasons. Drive-By Inspections, Property Inspections, Interior Inspections, Occupancy Verification Inspections represent some of the types of inspections that a bank will send to a National, Regional or Individual mortgage field servicing company. The “Nationals” such as Safeguard Properties, LPS, M&M Mortgage Servicing, MSI, Five Brothers, A2Z, National Field Reps etc., will hire Independent Contractors or “reps” to physically conduct the inspection out in the field.

Due to the current mortgage crisis the need for qualified inspectors has never been greater. The “Nationals” have their hands full and are limited to the amount of training they can provide individual contractors. Good training leads to quality field service inspections. For this reason, so many Mortgage Field Service companies are leaning more and more on Regional Companies to provide that training.

Usually there is not enough volume in a zone or region for the Regional Company to limit itself to just one or two clients. A successful Regional Company will need to diversify not only the type of services they perform, but also the number of clients they include in their business.

The biggest problem the Regional Company faces while contracting with 20 to 30 different Nationals are all those different websites their inspectors have to login to in order to submit their inspections.

The solution is for Regional Companies to utilize an Automated Data Processing program that can upload, download, and provide a means for their inspectors to actually conduct their inspections.

An Automated Data Processing program will eliminate the need for the inspectors of a Regional Company to keep track of all those different websites and logins from all those different Nationals.

Some Data Processing companies will farm out the completed work orders to foreign countries, taking days to return to the National client. This seems at the very least to infringe upon the security of those homeowners who have no control over their inspection status or privacy. Quality Control procedures should not be left to an outside company. The Regional Company should address this issue while maintaining strict security.

The choices for the Regional Mortgage Field Service Company are limited to a small handful of processing companies that fully understand the needs of the industry. Companies as BC Connect and In Field Express are expensive and do not have the flexibility as InspectorADE does. With some processing companies they only allow you to import CSV files. Others only PDF files. InspectorADE can handle either of them. The individual inspector needs to be considered before deciding which Data Processing program to go with. InspectorADE allows the inspector to use paper, laptop, or Android. Processing inspections with InspectorADE is instant. It goes straight to the Regional Company for QC and can be delivered to the National within 10 to 30 minutes. Not days like their competitors.

A good Automated Data Processing company that understands the nature of the Mortgage Field Service business will be a major key of success to any legitimate field service company.

Do You Need Mass Mutual Doctor Disability Insurance?

Yes. Ok, that might be too quick and too brazen, but the truth is most people stand to gain significant risk offset benefits from disability insurance. Most of the things that we value in life are insured – our home, our car and even our life. It is aquite realistic assessment that the risk of damage is quite real, and the cost of repairs (not in case of life insurance, but other insurances) to those objects may be too high to bear in case of an accident or a natural disaster. But in our risk management planning, one thing is often ignored, that is our income. Our earnings are secured only as long as we are healthy and able to work. In case that changes, a disability insurance can provide some much-needed relief.

The scenario in healthcare industry

The case for disability insurance is even stronger in the healthcare industry. Doctors are highly skilled professionals. They are highly reliant on their skill and talents to be able to do their job and earn their livelihood. In case any disability causes them to be unable to render their job, they are at significant risk. Hence, disability insurance is quite prevalent among doctors. In fact, it is common practice for doctors to opt for own-speciality or own-profession insurance plans which are quite expensive but provide generous cover. There are various major insurers that offer specialised insurance products for healthcare professionals such as Ameritas Disability Income Insurance for Medical Professionals, which is a disability insurance for doctors. There are also specialised products on offer by the Ohio National Disability Income Insurance and MassMutual Disability Insurance which also offer own-speciality insurance options as riders.

Some larger healthcare institutions such as hospitals or medical research centres may have a group insurance policy for covering disability, but most group policies provided by employers are inadequate to cover all expenses in case of loss of livelihood. Also, if the doctor chooses to leave the institution, the policy cannot be migrated most of the time. Hence, a personal doctor disability insurance policy is recommended in order to have sufficient coverage and also continue coverage regardless of employer.

Are the risks really high enough?

Let us take a look at the data. According to a survey, about a third of all doctors experience some or the other kind of disability in their professional careers. Of those, about in 40% of the cases, the disability lasts for 7 years or more. That’s the data about the healthcare industry. Now take a look at the average population data. According to the Social Security Administration, an average 20 year old has a 30% probability of suffering from a disability period of 6 months or more. Those are some significant statistical risks, and a good insurance will help you tip the scales in your favour.

Peace of mind

Another advantage of disability is enormous peace of mind. If you have any dependents in your family, such as kids, then having a disability insurance will relieve you of a significant amount of anxiety. There are several insurance plans that pay out almost 85% of your normal earnings as benefits in case you suffer from a disability. Such financial support will help you more or less maintain your present quality of life regardless of any unforeseen tragedies.

Veja Como Conquistar Um Homem Com Algumas Dicas Simples!

Venha fazer amizades e conhecer pessoas com as mesmas afinidades. Os mtodos que voc ir aprender so constituido de experiencias pessoais e muita pequisa para chegar ao pontoQUASE certeiro. fato sempre foi direcionado a mtodos funcionais para todos,no importa grau de dificuldade no relacionamento, mas isso no existe.

Cid recomenda que os soldados , civis e membros da famlia que se deparar com qualquer conhecido redes sociais suspeito ou perfil site de namoro ou so solicitados nesta forma de uma pessoa se passando por um soldado dos EUA, enviar e-mail imediatamente CID em @ mail mil.

Mas numa das vezes uma mocinha dentro do avio puxou papo comigo, e disse que estava com medo da imigrao e foi contando sua histria. Dava pra perceber que ela no estava indo bem intencionada pra Europa. Na hora de sairmos da aeronave ela me pediu para que passasse com ela na Imigrao, alegando que no falava espanhol e queria que algum falasse por ela.

Isso vai tepermitir que voc veja a si mesmo atravs dos olhos de um outro homem que voc acha interessante e atraente. Cabe a voc decidir aonde isso pode levar. E tambm vai te ajudar a lembrar que homem com quem voc est intimamente envolvida na sua outra vida” no est vivendo como um monge com sua esposa.

Conheci Clube dos Poupadores em 2014 quando estava pesquisando sobre investimento em LCI e LCA. Na poca, eu queria outra opo mais rentvel do que poupana e eu ficava perdido entre tantas opes de renda fixa.

Desde 2007, uma tendinopatia patelar nos dois joelhos incomodava nadador. esforo contnuo foi piorando problema ao longo dos anos. pice da leso foi justamente em 2012, no ano dos Jogos Olmpicos de Londres. A dor era constante, e problema comeou a ameaar a performance do nadador. A soluo definitiva, a cirurgia, no entanto, precisou ficar para depois da competio da Inglaterra. Nadando com os joelhos debilitados, Cielo no conseguiu bicampeonato nos 50m livre, mas levou a medalha de bronze.

relacionamento com essas pessoas foi uma via de uma mo, ondeeu fiz de tudo pra que funcionasse e que algum tipo de amizade, mesmo que rasa, crescesse. Dei tudo de mim enquanto pude, e conforme os anos passaram pouco de energia que sobrou usei para me manter viva, mas chegou um momento que parei de fazer por essas pessoas.

Em Nome de Jesus, atravs dessa Orao Poderosssima, declaro que todas as minhas dvidas, angustias, aflies sejam dissipadas da minha vida, da minha Famlia e meus familiares, e de todos os que fizeram.

Ento, primeiramente precisamos saber em qual das fases voc est nesta conquista. Se na primeira, quando voc tem atrao ou desejo por um cara, e quer despertar mesmo sentimento nele. Na segunda, que vocs j se conhecem ou at mesmo j rolou alguns beijinhos, e voc quer agora transformar isso em algo mais srio. Na terceira, vocs j tem algum tipo de compromisso, porm voc descobriu que este homem da sua vida, ento voc gostaria de artimanhas para conquist-lo de vez, e passar resto da vida ao seu lado.

Finding The Best Asian Escor Ts Marylebone Agency

Despite the fact that the process of finding the right Asian Escor*s South Kensington agency is quite challenging, you should know that it is definitely worth your while, especially if you would like your future experiences to be positive. As you may probably know, when meeting Asian Escor*s Marylebone, you do not really know what to expect. But, if you are certain that the agency you have chosen to contact is a reliable one, you will not have to worry about anything.

At first, you might be tempted to believe that the agency you rely on does not really matter that much. Well, the truth is that your whole experience depends on the agency. So, instead of making the mistake of booking a date with one of the available Asian Escor*s South Kensington with the help of the first agency you stumble upon, you should consider doing a bit of research first. It might take a while, but you should know that this whole searching process is worth it.
As soon as you gather enough information it will be easier for you to select an escor* and give out your personal information when filling out the booking form that is available on their website. It would be recommended that you follow a few simple steps starting with making a list of reasons as to why you should opt for the services of an escor* agency rather than just pick up Asian Escor*s Marylebone on the street.

Well, when you are ready to have some naughty fun, you can not risk doing it with someone that can make you deal with all sorts of unpleasant situations. One of the reasons why you need to look for such an agency is the fact that you are able to meet trustworthy Asian Escor*s South Kensington whenever you feel like it. At the same time, if you are thinking about hiring one of the ladies you have seen on the agencies site, the booking process does not take longer than just a few short minutes.
The next step requires you to do a bit of research online and see which of the existing agencies can offer you just the right advantages starting with a simple booking process, complete data protection and so on. They should ensure that you have access to a long list of gorgeous ladies that you can choose from when you feel like having a lot of fun. Your experience should be so amazing that you should want to contact them again. Read a few reviews written by other customers just like yourself before you get in touch with any of these agencies.