Processor is Metavante’s complete processing, tracking and underwriting module that can be used in conjunction with Agent and Closer for seamless loan automation and workflow productivity. A loan application is submitted to a central database by a loan officer or mortgage broker, the processor tracks and processes the loan, and the underwriter underwrites and approves the loan, all through one seamless system.

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Part of the Complete LOS Solution

Processor is part of the complete Loan Origination Studio (LOS), which includes other core application modules: Agent (point-of-sale) and Closer (closing). Add-on tools available for LOS include: Workshop (toolkit for customizing the LOS system), DataSynch and FileSynch Servers (data and system file synchronization), and Loanportal (thirdparty services portal).

Stand-Alone, Thick Client and Thin Client

Loan Origination Studio can be configured in stand-alone, thick client and thin client deployments – all with the same functionality and user interface. All configurations use identical code base, allowing for rapid expansion into new markets and channels. Also, changes only need to be made once for all users and configurations.

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	Key Features

Processor Functionality:

Tracking

Complete tracking of loan including loan status, current disposition, lock and other key dates; and status of mortgage services requested, ordered and received.

Conditions

Tracking of all verifications, conditions and missing items including dates ordered, re-ordered, cleared and/or received by various parties.

HMDA

Tracking of HMDA specific information including action taken, counter-offer, denial, MSA, census tracts, ethnicity, race and gender.

Trust Accounting

Trust accounting of all fees due, paid
and outstanding from borrower,with
check detail information, including
ability to split payments.

Underwriting Forms

Data capture by processor for complete underwriting forms and screens, including 1008, Uniform Loan Submission, W-9, mortgage committment, cash flow analysis and much more.

Underwriting Modules

Detailed underwriting screens that pull data gathered by loan officer and processor for underwriting of all loan types.

Security Manager

Controls system access via client-server and/or web, with unique rights profiles defined for each user group.

Intelligent Auditing

Correct data entry errors and capture missing data early
in the loan origination process with standard and
custom audits.

Mulitple Loan Types

Supports conventional, FHA, VA, 203K, USDA/Rural Housing loans, firsts, seconds, HEL, purchases, refinance, among others.

Mortgage Documents

Supports standard VMP documents with ability to add unlimited custom documents.

Automatic Document
Selection

Build rules to automatically select all necessary mortgage documents for end-users based on lender defined criteria.

Online Services

Loanportal service gateway includes credit, automated underwriting, flood, appraisal and other services.

Modifiable/
Expandable

Modify virtually any part of the system (screens, workflow, tabs, style sheets and reports) to meet your unique lending needs.

Automatic Software Updates

Automatic file synchronization for remote laptops and PC’s and distribution of software changes.

Managements
Reports

Standard and customizable reports for individual loan officers and managers to measure performance and take action.

Workflow

User-friendly visual interface enables lenders to manage and monitor business processes, and easily change those processes for maximum efficiency.