Mortgage Processing Database Template

Mortgage processing in the USA, from Wikipedia: In the U.S., the process by which a mortgage is secured by a borrower is called origination. This involves the borrower submitting an application and documentation related to his/her financial history and/or credit history to the underwriter. Many banks now offer “no-doc” or “low-doc” loans in which the borrower is required to submit only minimal financial information. These loans carry a slightly higher interest rate (perhaps 0.25% to 0.50% higher) and are available only to borrowers with excellent credit.Mortgage Processing Definition:  The sequential tasks performed by a lending institution from loan application start through loan closing, including receipt of the application, performing credit investigations, evaluation of loan terms and other procedures.Fairway Financial Services is a locally owned and operated mortgage processing/brokerage firm specializing in servicing residential mortgage lending throughout the Kansas City metropolitan area, as well as all of Missouri, Kansas, Nebraska and Iowa.

Our developers were contacted to streamline the management of original mortgage, loan consolidation processing from acquisition of the initial mortgage lead through calculation & payment of brokers’ commissions after closing of the first or second mortgage note.

The specific deliverables where as follows:

1. User friendly streamlined interface with validation checking

2. Management of the entire mortgage lending process including:

• Mortgage Process Pipeline Analysis

• EOM Mortgage Volume

• Broker Commissions Calculations

• Monthly Mortgage Processing Statistics

• Annual Mortgage Loan Volume

• Account Receivables

Mortgage loan servicing begins with the loan details. Below is the main screen which begins the process of tracking the loans through the pipeline.

All aspects of each loan are tracked on this screen including all associated costs for the loan.  All lists are maintainable by the user via the list maintenance tab.

Below is the main mortgage loan processing management data entry form.

Below are some example reports which are not enlargeable because they contain real data:  (note: OneWorld Marketing is owner of Fairway Financial)

Management reports are a key aspect of the Loan Processing database.

This report is selectable by date range – typically a full month.  This report provides a quick view of lending office comparative performance.

There are about 10 different reports in total – we have only show a few for this loan process management software case study

Monthly broker loan volume summary by office.

An important part of the management of loan processing is the calculation of broker commissions. Below is one the commission calculations reports.

This report is selectable by date range – typically a full month. Note that brokers from multiple offices are managed by the system. Also, offices and individual brokers can have differing commission percentages.

Broker Commission Calculations Report:

Loan app. status snapshot – see status of the total loan pipeline.