PCLender Mortgage Software Benefits

Multifaceted mortgage lending processes demand a degree of detail management that challenges even the most seasoned mortgage experts. Technology-driven efficiency is the key to succeeding in the increasingly complex, deeply scrutinized mortgage industry.

PCLender's enterprise mortgage lending system gives our clients a viable alternative to procuring and implementing technology systems internally. We go beyond "software in a box" by assisting with hardware, software, configuration and data management. With PCLender managing your technology, you can focus on customer service and core business activities.

PCLender delivers benefits unparalleled in the industry, including:

Sensible cost: The PCLender product suite is available with very competitive pricing, lowering your costs and ensuring successful implementation for immediate return on investment. Our solutions allow you to precisely control the total cost of technology ownership through a fee structure based on closed loans. With PCLender as your partner, you pay far less for much greater performance.

Customer focus: We consider our customers to be partners in the implementation, support, and development of mortgage tools. We remain your technology partner and continue to assist with all your automation needs.

Integration: PCLender provides multiple automation tools integrated to function together seamlessly. This reduces the need to acquire, implement, and support multiple technology systems and hardware. Additionally, you are not required to patch several systems together — an advantage that reduces costs and reduces technology gaps in the life cycle of a loan.

Mortgage centricity: Our products are built by mortgage specialists who understand the unique mortgage business workflow. We provide busy professionals the technology tools needed to grow and produce loans more efficiently.

Remote access: PCLender tools and systems are available from any location with Internet access, and there are no LOS licenses nor installation fees for additional users.

Scalability: We support lenders with as few as ten employees or as many as five thousand. Costs are reduced for smaller lenders through the cooperative use of resources, and costs are tiered for high-unit lenders with volume discounts.

Security: All data and hardware is located in a SAS 70 Type II certified data center. PCLender is also SAS 70 Type II certified for internal controls related to the support of our LOS and PCApproved applications. User rights are configured to support compliance with file access and edit rights. For more detail on PCLender's security processes, please click here.

Service level: PCLender provides a pricing and support model unparalleled by off-the-shelf loan origination products, offering 24/7 administrator support for the life of the contract. Support personnel possess years of technical and mortgage business experience focused on building customers' businesses. We provide you the most current version and tools without additional upgrade costs.

Simple implementation and support: PCLender's mortgage automation and tools provide simplified set up and maintenance. Our customers are typically up to speed within 30 to 90 days and often obtain immediate cost savings and improved service levels. We automatically deploy updates to the system with new version releases, requiring no IT server expertise on your part.

Best Business Practices

PCLender is committed to setting the standard for mortgage technology. Our solutions put best business practices to work.

At PCLender, we:

• Allow your staff to prequalify, originate, process, approve, close, track, settle, and report mortgages in a single system. This creates a seamless transition between all activities and avoids the gaps found in integrating multiple solutions
• Offer and manage integrated guidelines, rules, and business processes to assist with data security, data collection, proper disclosing, loan pricing, loan approval, and pipeline management
• Provide loan-level reconciliation to allow you to track profitability by originator, branch, channel, product, investor, and more. By tracking loan-level gross profitability, loan sale deviation, and revenue deviation, we make it easy to identify areas of risk as well as opportunities to improve operations and bottom-line revenue
• Supply more than 1,300 processing and underwriting forms that support conventional, FHA, VA, nonconforming, subprime, and construction loans; home equity lines of credit; and second mortgage programs
• Provide bi-directional integrations with Fannie Mae, Freddie Mac, FHA Connect, and other automated underwriting and loan pricing systems
• Are staffed with mortgage banking specialists familiar with agency guidelines, HUD/VA loan programs, and automation procedures to support lenders’ portfolios and private-label loan products
• Partner with industry experts and consultants to provide mortgage services that include investor relationships, rate sheet generation, mortgage banking policies and procedures, job descriptions, and support for simplified loan delivery processes

Compliance

PCLender's LOS is designed to help lenders, especially financial institutions such as banks and credit unions, meet compliance requirements. Our fully hosted design enhances data protection, and a host of compliance features and functionalities make our company the leading mortgage lending technology partner for midsized institutions.

Compliance features include:

• SAS 70 Type II infrastructure and support certification
  
  
• Removal of customer data from all workstations and laptops
  
  
• Integrated loan program guidelines and data, ensuring that loan programs are properly identified and disclosed
  
  
• Off-site backup for disaster recovery and business resumption
  
  
• Advanced password management for third-party vendor systems
  
  
• HMDA data tracking and final reporting
  
  
• ECOA tracking and issue identification
  
  
• High-cost lending validation through vendor tools
  
  
• Data checks that can be placed to ensure proper data gathering before key activities are completed
  
  
• NMLS and State licensing tracking for lender, brokers, appraisers and other vendors
  
  
• Configurable-user security rights based on user's role and loan status

Competitive Advantages

PCLender offers enterprise features not found in many other mortgage banking software platforms:

• Single page loan qualification screen
  
  
• Loan program comparison and open house fact sheet tool
  
  
• Address book for quick search of contacts' pertinent data
  
  
• Auto-calculated fields for mortgage insurance, GFE fees, APR, first payment dates, impounds, reserve collections, suggested print forms, and suggested status items for loan processing and approval
  
  
• Customizable forms, documents, and reports that enable the system to conform to your loan origination and data security business practices
  
  
• Drag-and-drop capabilities for ease of use; automatic processing of income and expenses; and customizable status bar showing loan number, borrower name, qualifying ratios, payment savings, total of bills to be paid, hints, and more.
  
  
• Debt service ratio options for owner-occupied rental income and second home expenses
  
  
• Easily customizable defaults for new loans set-up
  
  
• Easy-to-complete prequalification and loan application forms that simplify the mortgage process for borrowers
  
  
• Flexibility to print, save, and continue a loan program in the middle of completing a loan transaction
  
  
• File status and workflow management screens that automatically track loans from origination to post-closing
  
  
• Increases in productivity that dramatically improve service levels for your customers and ensure timely closings
  
  
• Rapid implementation with no heavy upfront investment or continuous maintenance of hardware and software
  
  
• Refinance analysis screen to show cash flow savings, interest savings, number of months to recoup nonrecurring closing costs, and number of years to pay off new lien with payment savings
  
  
• Secondary marketing tools to determine and track the cost of funds from pricing, locking, and secondary market delivery
  
  
• User-friendly loan origination software that staff can easily learn with the assistance of free online classes and video based training modules

Mortgage Lending Services

PCLender partners with mortgage industry experts to provide the requirements to complete your strategic plan for mortgage banking. Our team includes experienced mortgage professionals and consultants to ensure successful implementation.

Services include:

Strategic planning: This service addresses measurable milestones for mortgage bankers, including defining the required resources for effective loan production, compliance, and secondary marketing delivery.

Business process reviews: PCLender establishes industry-standard benchmarks through reporting and file reviews. We document and summarize findings to support that file quality is directly linked to profitability.

Secondary marketing: Establishing the right investor business relationships and delivery processes is determined by product type, delivery channel, and loan volume.

Outsourced services: Rate sheet generation and LOS administration may be provided on a temporary or permanent basis.

Policies and procedures: PCLender offers lender policies and procedures combined with system functionality to ensure they are a useful resource for supporting staff. Additionally, job descriptions and workflow checklists can be provided to ensure that loan delivery is always completed efficiently and with the appropriate quality controls in place.

Click here to request assessment for the PCLender mortgage banking enterprise lending software solution.