Date post: | 24-Dec-2015 |
Category: |
Documents |
Upload: | asher-little |
View: | 217 times |
Download: | 0 times |
ARC SystemsARC Systems
2600 Via Fortuna #5002600 Via Fortuna #500
Austin, Texas 78746Austin, Texas 78746
(512) 892-5550(512) 892-5550
fax (512) 892-5552fax (512) 892-5552www.arcsystems.com
ARC Systems
LoanFinder Express™
June 6, 2004
Phase 1
Mid-Tier Lenders• Product Definition
• Control Adjustments
• YSP
• & More
Mortgage Brokers• Field or Office
External Services• Credit Bureau
Warehouse Line• Approved Lenders
Lender Guidelines• Multiple
• With Adjustments
Lender-Controlled Investor Guidelines
• Multiple
• With Adjustments
email Lock Request to Investor
Smart Phone• Field operations
Nonprime Lenders
Phase 2 – Investor Connections (Direct)
Mid-Tier Lenders• Product Definition
• Control Adjustments
• YSP
• & More
Mortgage Brokers• Field or Office
Warehouse Line• Approved Lenders
Investors• Pricing / Product
Direct Feed
Lender Guidelines• Multiple
• With Adjustments
Lender-Controlled Investor Guidelines
• Multiple
• With Adjustments
Nonprime Lenders & GSE / Fannie & Freddie
Phase 3 – Ancillary Services
Mid Tier Lenders• Product Definition
• Control Adjustments
• YSP
• & More
Mortgage Brokers• Field or Office
Warehouse Line• Approved Lenders
Investors• Pricing / Product
Direct Feed
Lender Guidelines• Multiple
• With Adjustments
Lender Controlled Investor Guidelines
• Multiple
• With Adjustments
Nonprime Lenders & GSE / Fannie & Freddie
Compliance Checking
Direct Tie to Investor Systems for Locking
Phase 1 – LFE Offering
• Built on ARC Systems’ award-winning / best-of-breed automated underwriting engine
• Including conventional, nonprime, warehouse offerings
• An affordable product for mid-tier lenders / large brokers who require but cannot afford an enterprise-level underwriting engine
• LFE users will be allowed to pick from a basic set of credit attributes
• Analytical depth unmatched in the industry today, based on years of experience in production
Phase 1 – LFE Offering cont’d
• Customized web portal interface…choose from 10 styles
• Entry page provides advertising “real estate” available for purchase
• Investors determine pricing controls/points/incentives to each mid-tier lender
• Mid-tier lenders determine pricing controls/points/incentives to each mortgage broker / seller, including YSP
Phase 1 – LFE Offering cont’d
• Supports product pricing and program guidelines from companies you sell to every day
• Mid-tier lenders can build their own product and pricing guidelines
• Mid-tier lenders can control pricing adjustment to individuals who are given access to their portal
• Mid-tier lenders control userid’s and password security access
• Product and pricing guidelines are updated via web-enabled interface
Phase 1 – LFE Offering cont’d
• Built on ARC Systems’ popular “Quick Price” Engine capability that currently receives over 150,000 hits per month
• DU / MISMO compliant upload / download to / from LOS systems
• Flexible system design allows users to start by pulling credit OR searching for product/price
• User will be able to download loan information for a limited time. In Phase 2, information will be retained for a period of time specified by the lender, at an additional charge.
• Loan applications provide best fit from selected Lenders
Phase 1 – LFE Offering cont’d
• Users can select from a list of supported Credit Bureaus by submitting their authorization code
• Credit is maintained on-line and available for submission to appropriate systems
• Offering Warehouse-line qualification/purchasing directly from the LoanFinder Express system
• Mid-Tier Lenders and Larger Brokers control underwriting guidelines
• Loan Locking via e-mail
• Reporting
– Pipeline, Summary, Application
Phase 1 – LFE Offering cont’d
• Third party Services:
– Phase 1
• Credit bureaus
– Phases 2 & 3
• Fannie Services
• Freddie Service
• AVM’s
• Risk
• Document providers
• Mortgage Insurance
• Compliance checking
User Assistance
• Phase 1– User Manual– Online help at critical points – Data field validation
• Phases 2 & 3– User-defined Workflow control…
Phase 2-LFE Offering
• Direct approvals from both Fannie Mae and Freddie Mac• Interfaces to lenders’ underwriting engines
• Locking tied to lenders’ underwriting engines
• Investor control over products purchased by geographical regions MSA/ZIP/State
• Pool building capabilities
• Automatic submission of pools to Wall Street purchasers
• Extended e-mail capabilities
• Faxing capabilities
• ASP-Based LOS
Phase 3-LFE Offering
• Two-way tie to ACT – loan officer lead generation system
• Tie to county recorder office via defined interfaces
• Make XML standards for counties clerks
– Travis County/Texas MBA first…
• Tie to Closing agent offices