Processing

Loan Validation, Missing Items

Simply run your completed loan application through your loan validation Rules OnDemand to identify any missing items or other reasons the loan may not meet your quality standards.

Ordering Fulfillment Services

Loan Producer provides for the electronic internet ordering of your fulfillment services utilizing standard MISMO interfaces. Ordering credit, appraisal, flood, mortgage insurance, title insurance, survey and other services is simply the click of a button. Results are automatically populated into the loan and the documents are automatically stored electronically with the loan in Radstar. If you elected to share individual documents with your borrowers they can see them immediately through LPOnline.

Appraisal

Our Property Valuation Interface allows you to electronically order appraisals, automated valuations, broker price opinions and other property valuations from any MISMO compliant service provider.

Credit

The MISMO Credit interface allows you to order credit, view the credit report, and import the credit data returned by your credit reporting company back into your Loan Producer database without having to manually enter any of the information from the credit report. In addition to the individual tradelines (liabilities) included on the credit report, credit scores for each borrower as well as the corresponding factors giving context to each credit score are also imported.

Flood

The MISMO Flood Zone Determination interface allows you to order flood hazard determinations from any flood service provider that offers a web service complying with the MISMO specifications.

Mortgage Insurance

The MISMO Mortgage Insurance interface allows you to order mortgage insurance from any mortgage insurance provider that offers a web service complying with the MISMO specifications.

Title Service

The MISMO Title Service interface allows you to order title services from any title service provider that offers a web service complying with the MISMO specifications.

Store External Documents Electronically

Store all your borrowers’ external documents such as pay stubs, tax returns, W-2s, gift letters, bank statements, investment statements, or any other documents into Radstar for quick and easy electronic retrieval.

Reviewing Loans

Loan Producer provides for a custom loan interview sequence that processors have come to love. All the information a processor needs is at hand with the simple click of the next button. Review and/or update information such as loan terms, GFE terms, all of the borrower’s information including credit scores and reports, loan details, appraisal, property, seller, tax and insurance, closing costs, title, flood, important loan dates and on and on. Loan Producer provides for the most timely and efficient processing of a loan in the industry.

Default Parameters

In addition to detailed loan product plans, and to further enhance your processing efficiency, Loan Producer stores closing cost plans, tax and insurance plans and mortgage insurance plans. Simply set up the default parameters during implementation and enjoy the automation of the data automatically populating into the loan.

Status Letters and Updates

Keep your borrowers apprised of the status of their loan at all times. Status letters can be generated to send to the borrower or if you use LPOnline, a 24/7 status update will be available online. Provide the excellent customer service your borrowers expect by supplying them with the status and progress of their loan.

Processing Documents

Printing processing documents can be done either individually or in a bundle. The smart user-defined document bundle automatically generates the appropriate documents for the particular loan you are working on. Create your verifications, appraisal, survey and title requests, borrower credit score factors, credit score notice, risk based pricing notice and other processing documents with the click of one button.

Whose loan is it?

Loans can be assigned to specific loan processors and easily retrieved in bulk using the My Work List real-time review tool.

Financial Industry Computer Systems