MorSystems has introduced the third version of the Borroware® client loan application system. Borroware allows originators to provide their clients a choice of application options. The pre-approval requires just enough information necessary for a loan originator to run a credit check and pre-approve a client. When the client is ready to complete the full application (online or downloadable), the information from the pre-approval is already in the application. When the originator receives the file, they save and import it to their loan origination system. Borroware is branded to each loan originator through the MorSystems Web site.
Rate Consolidator software (from Arieysoft, LLC) provides loan originators with a sole source for lender rate sheets. Rate sheets are pre-sorted and organized, with the latest interest rates available. Rate Consolidator includes a tool bar customized so that users are able to view their lenders’ information.
Ellie Mae’s Encompass 2.0 includes several new features including a loan template that enables users to pre-populate fields with common data such as loan program, forms lists, and closing costs. A custom milestones feature is aimed at enhancing business manageability by allowing users to tailor/adapt milestones to their individual business flow. Version 2.0 also includes a new integrated calendar and scheduler and an expanded contact manager.
Palisades Technology Partners’ version 4.0 of the Impact Software Suite includes independent XML services, including good faith estimate fees calculation service, loan pricing service, lending compliance service, and mortgage loan calculations service. The Impact Mortgage Suite provides support for customers’ existing enterprise workflow tools, in addition to an out-of-the-box document delivering system featuring mapping, auto-selecting and online previewing functions, and remote printing and sending of standard and custom documents.
BilingualUniversity.com offers training for bilingual Spanish-speaking loan originators. The Web site was developed as a partnership of Bilingual Scout and Mortgage-Education.com. BilingualUniversity.com will be a key part of MiCasaPrestamos.com, a Web site for Spanish-speaking homebuyers. MiCasaPrestamos.com displays mortgage companies that employ Spanish-speaking loan officers, along with information on purchasing a home, down payment assistance, and other homebuyer information.