Those are big words to throw around. But we earn them. DirectWare® is nothing less than the first comprehensive loan origination and processing application of its kind available for wide use today:
- Pre-Qualify a borrower against the actual requirements of your loan programs.
- Submit and edit a loan application and have entered values automatically populate every conceivable calculation and every required form on the way from origination to settlement.
- Underwrite an application against your entire library of available loan programs simultaneously so you can literally choose the program best suited to the borrower's particular needs from among an complete list of approved loans.
- Print your "Borrower to Provide" disclosures, including the TIL, GFE, Credit Authorization, and much more with the click of a button.
- Validate the conditions of a loan in a matter of minutes-including automated validation of Social Security information, credit, appraisal value, even income.
- Lock a rate online in seconds to capitalize on up-to-the-minute market changes.
- Generate your complete stack of closing documents pre-populated with accurate data and pre-sorted into stacking order with the click of a button.
- Reconcile your HUD fees and escrows electronically.
- Fund and disburse payment on approved loans with ease.
- Generate comprehensive pipeline reports and accounting documents automatically.
- And much, much more. All from a single point of contact!
Of all the many features built into DirectWare®'s comprehensive software package, perhaps nothing will impact your day to day operations more directly than DirectWare®'s automated Underwriter. Literally thousands of underwriting conditions for hundreds of loan programs can be built programmed directly into the DirectWare® application. Brokers empowered by your DirectWare® Underwriter will be able to turn basic information on a loan application into a list of diverse loan products that are already underwritten in a matter of minutes. No one can keep all of the many variables in their head. But with DirectWare®, all of the complex calculations determining qualification for a wide array of loan programs are at your fingertips anytime you have access to the internet. The "hunt and peck" method of choosing the right loan for a given borrower that has characterized the mortgage industry for decades is finally giving way to true customization and choice combined with the power of single-click underwriting. Properly understood, this one tool has the power to transform the kind of customer service your employees provide.
DirectWare®'s Underwriter is as complex a piece of programming as any in the mortgage industry today and yet its underlying premise couldn't be simpler:
Program all the underwriting requirements for a vast array of loan products into a central database so that brokers can see in minutes how a particular borrower matches up against available loans.
The Underwriter has taken the guesswork out of underwriting. It multiplies the variety of choices available to everyday borrowers and dramatically increases the speed with which they get answers from you. Borrowers get better service while you and your clients have more time to focus on drumming up more business.
Think of DirectWare®'s Underwriter as a search engine for loans. There are four basic ways to use it:
Use the Underwriter to "search" loans or to "browse" them. Find exactly what you need or get a sense of the possibilities. It's up to you. DirectWare® gives you that kind of power. And since it is internet-based technology, you can literally access your most recent loan pipeline information and drill down to the most minute details of a given loan process from anyone's web-enabled computer, anywhere in the world.
- For guidance:The Underwriter allows you to enter some information while leaving other values blank and shows you the maximum or minimum values that are required for different loan programs. The Underwriter, for example, can help your borrower make informed choices about the type and value of the property they should be looking for based on actual loan program requirements.
- For choice: With specific information about a given borrower, you can quickly sort available loan programs into three categories, those your borrower qualifies for, those he or she does not qualify for, and those he or she might qualify for if further conditions are met.
- For price: Because of the speed with which the Underwriter churns through hundreds of variables, it is suddenly possible for you and your borrowers to see the impact of slight program variations on the bottom line. Your borrower, for example, could see within a matter of minutes the impact of different types of loan documentation on their interest rate or on their closing costs. They could explore the option of Lender Paid Mortgage Insurance, or of financing their closing costs, with real numbers to guide their choices.
- For approval: If you have a specific loan program in mind, you can verify whether or not your borrower meets the program's requirements in minutes.
There truly is nothing like it.
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