InHouse Mortgage Standard LOS

Smaller mortgage lenders, and many community financial institutions, are not interested in detailed customizations but still want the benefits of a comprehensive mortgage lending business software system with reporting and management capabilities. With PCLender's InHouse Mortgage Standard, these lenders can expect to manage more volume more efficiently while virtually eliminating technology-induced headaches.

InHouse Mortgage Standard offers many enterprise features such as end-to-end workflow, fully secure data management, and a focus on compliance in every process. Its implementation is simple, expedient, and includes preconfigured tables that allow your staff to operate efficiently on day one.

There is no reason why a small lender can't be a giant in the marketplace. Using InHouse Mortgage Standard browser tools, your company can develop a commanding online presence through a professional-looking, solid-performance retail Web site.

It is widely accepted that technology has leveled the field for mortgage lenders of all sizes. Today it is the delivery of technology via SaaS that offers the greatest impact on operational efficiency, risk management (security and compliance), and profitability.

Most non-vendor mortgage technology experts agree that SaaS is the future of mortgage lending business software. If your current LOS provider is not ready to tell you this, it is because they are not ready to deliver and cannot match the InHouse Mortgage Standard pricing model or its infrastructure security and maintenance commitments.

Loan data summary and reporting: Access your mortgage loan pipeline using the integrated search and reporting functions. A single summary screen provides a convenient overview of key loan information.

Automated credit grading: This feature ensures that loan transactions are consistently graded based on imported credit report data. Subprime pricing is accurately provided based on this credit grade along with loan-to-value parameters.

Data security and integrity: Data checks with pass, fail, and warning prompts are provided throughout the system to ensure that information is gathered completely and correctly for automated underwriting systems, HMDA, and general loan processing.

Final values: Lock down information by recording changes to select fields. The final value tool records the original value, the changed value, and the user's reason for the changes.

Security and compliance management: State licensing requirements can be tracked and linked to business rules for loan originators, branches, brokers, and vendors. Multiple license types can be managed by type of lender, lien position, or state licensing type. High-cost lending rules may be implemented to ensure that loans are properly disclosed and/or made. Audit logs are available to track field level changes, the issuance of disclosures, automated underwriting system findings, and e-mails sent from within the LOS application.

Contact management: Contacts and companies associated with a loan, including escrow, title, appraisal, real estate agents, brokers, and investors, are easy to access during the loan process.

Document data security: InHouse Mortgage Standard was designed with data security and compliance in mind. Administrators can select different levels of security and assign passwords for both individual users and companies. This includes field-level security that may be triggered based on the loan status. Customer data is not stored on workstations, and user rights may be configured to eliminate data exports.

Embedded vendor interfaces are provided for credit reporting, flood certifications, mortgage insurance, fraud detection, compliance, and automated underwriting systems. Information automatically populates print forms and applicable screens. User names and passwords can be centrally managed by the user, the branch, or system-wide.

A library of more than 3,000 print forms have predefined rules to ensure simplified disclosure based on the characteristics of the loan applicant. Forms have been created to support initial disclosures, mortgage insurance, prepayment penalty, ARM, and other lending criteria. These forms support loan origination, processing, approval, closing, and internal business requirements such as loan reconciliation. They may be viewed, printed, e-mailed, or faxed within the LOS application.

Generate and auto-populate GFE fees based on the loan parameters, geographic location, and your own business criteria.

A program picker allows originators to find the best available loan program based on the rate of a note and the lock period. Automated pricing adjustments ensure loan programs are quickly and accurately priced at the time of loan origination.

For an item-by-item comparison of InHouse Mortgage loan origination and compliance platform solutions, click here.