Loan Origination Software
Mortgage Builder Software; Windows, Unix and Linux based Loan Origination
Software with Spanish language capabilities.
Mortgage Builder's 3.4 LOS Upgrade Adds Imaging and Document Functionality
ORLANDO, Fla. & SOUTHFIELD, Mich. March 31st, 2005. Mortgage banking solution
provider upgrades LOS, helping users make informed product choices, increase
loan volume, produce higher quality documents
Mortgage Builder Software Inc., a provider of complete mortgage lending software
solutions, released version 3.4 of its loan origination software (LOS) package.
The upgrade impacts nearly every component of the enterprise LOS by adding
imaging and document management capabilities, enhanced Loan Prospector
interface, construction package, post closing tracking and Spanish friendly
documents. Through listening to their customers' needs, Mortgage Builder
developed an upgrade that will increase speed, efficiency and overall system
performance.
The enhancement includes a new feature including an imaging and document
management system. Mortgage Builder clients can attach files from outside the
software to loans within the system. Various files can be attached to the loan
file such as an XML file, PDF, etc.
A unique feature to the Mortgage Builder LOS is the addition of Spanish language
documents. Mortgage Builder enables lenders to provide processing documents such
as 1003, verification of employment (VOE), verification of deposit (VOD), good
faith estimate (GFE) and truth in lending (TIL) forms in a Spanish version to
their borrowers. The 1003 and VOE/VODs are a combination of Spanish and English
within the same document, while the GFE and TIL are read-along versions that
accompany the English versions. This unique feature helps lenders develop a
better relationship with their borrowers.
The system also has a new construction package allowing lenders to track draw
releases to the builder or contractor on construction loans. They can also
generate interest billing statements to the borrowers for the construction draws
that are released. This allows lenders greater access and functionality within
the Mortgage Builder system thereby eliminating outside spreadsheets to track
these items.
An interface has also been created with Freddie Mac's Loan Prospector (LP). The
Loan Prospector interface has been re-written in XML (MISMO) language and
communicates directly over the Internet. This is a two-way embedded interface to
LP so that the user never has to leave Mortgage Builder's software to review
their feedback.
The upgrade also includes post closing tracking capabilities. The enhancement
allows for a separate post closing tracking area that enables lenders to track
items that were not received at the time of closing or conditions that the
investor requires completed before funding the loan.
"By listening to our clients needs, we were able to identify areas that would
not just add 'bells and whistles,' but would instead improve our customers
ability to deliver a higher-level of customer service to their clients in a
shorter period of time," said Keven Smith, president of Mortgage Builder
Software. "This is the greatest asset we can provide our customers and is the
ultimate goal of everything we do. Our mission is to help lenders accomplish a
true paperless process."
About Mortgage Builder Software, Inc.
Headquartered in Southfield, Mich., Mortgage Builder Software, Inc. has provided
high-quality loan origination software (LOS) systems to mortgage bankers,
mortgage brokers, credit unions, mortgage originators and financial institutions
for more than 25 years. The Mortgage Builder (R) system is an all encompassing
Windows (R)-based software package that addresses mortgage banking needs
throughout the entire loan process from point-of-sale to closing and all
back-office functions. Mortgage Builder Software supports Microsoft (R) and UNIX
platforms and is the first provider of Linux-based LOS software in the industry.
Mortgage Builder Software was named one of the industry's Top 100 technology
vendors in 2004 and recognized for its customer service in 2003 by Mortgage
Technology Magazine. For more information, visit www.mortgagebuilder.com.
Contacts:
For Mortgage Builder Software, Inc., Southfield
Media Contact
Meredith Boyd, 678-781-7219