LoanMarq Specifics and Advantages
LoanMarq is designed to be integrated into an existing website and brand. LoanMarq allows the client to make it look and feel like the client. The client can customize LoanMarq by changing the name to better fit their overall brand, change colors, and add their logos.
The administrator of LoanMarq can customize user features as well as manage milestone alerts directly from the Admin Portal. LoanMarq will automatically generate email and text message notifications to all parties when predetermined checkpoints and milestones are reached. The interface allows clients to manage vendors as well as hold them accountable to service levels. This effectively creates efficiency within the client’s business by knowing which vendors complete tasks on a reasonable timeline.
Loan officers can create and manage all of their contacts and easily integrate them into each loan they originate. LoanMarq also allows loan officers to not get bogged down with status update calls and focus on growing their pipeline, resulting in increased revenue and higher profits. In the mortgage industry, communication is paramount to the overall success of the client’s business. LoanMarq takes communication during the mortgage process to a level never before attained. With LoanMarq the mortgage professional and all related parties communicate automatically.
Pipeline Overview
Users have a complete pipeline manager allowing them to see all their loans in summary form. It keeps them updated as to which of the four stages of the process the mortgage is currently in. These stages include:
- Origination
- Processing
- Underwriting
- Closing
Origination Milestones
In the origination stage the client is able to view:
- Related parties and all their contact information
- How long until the mortgage is ready to close
- The application date
- The property address and type
- The credit report
- Mortgage disclosures and compliance documents
- The letter of pre-approval
- The Documentaton required to process, underwrite, and close the mortgage
- All loan level data, including sales price, mortgage program type, loan amounts, interest rates, payments, amortization schedules, loan-to-value, combined loan-to-value, when interest rates were locked, the expiration date, and lock confirmation
- The expected time of fufillment for all data
Processing Milestones
In the processing stage the client is able to view:
- Date required documentation was received and whether or not it is complete
- Appraisal order, including type, form number, when it was ordered, when it will be fulfilled, the appraisal report, the date received, and the appraised value
- Title Order, including when it was ordered and when it will be fulfilled
- The title commitment and the date it was received
- The Home Owner's insurance policy and when it was purchased
- The title and homeowner’s insurance mortgage clause
Underwriting Milestones
In the Underwriting stage the client is able to view:
- The underwriting date
- Whether the loan was approved with or without conditions
- Conditions and stipulations required to complete
Closing Milestones
In the closing stage the client is able to view:
- The date closing documents and instructions are delivered to the tile agent or attorney
- The closing instructions and documents
- The settlement statement, date prepared, and whether it has been approved by the lender
Notes and Notification
Using LoanMarq's Notes and Notification system, the client will be able to:
- Automatically deliver email and text message updates at predetermined milestones. Deliver crucial information to any party in any stage to speed the process along
Address Book
- User Portal becomes a contact manager allowing the master admin to know who does business with their company and to what extent.
- Address book can be used as a marketing database to effectively market past customers
- Contact management system efficiently creates borrowers, realtors, builders, title companies, and appraisers to effectively maintain your marketing database.
