Benefits

PCLender Mortgage Software Benefits

Multifaceted mortgage lending processes demand a degree of detail management that challenges even the most seasoned mortgage experts. Technology-driven efficiency is the key to succeeding in the increasingly complex, deeply scrutinized mortgage industry.

PCLender’s enterprise mortgage lending system gives our clients a viable alternative to procuring and implementing technology systems internally.. With PCLender managing mortgage loan technology, our clients can focus on loan origination and customer service.

PCLender delivers benefits unparalleled in the industry, including:

Sensible cost: The PCLender product suite is available with very competitive pricing, lowering costs and ensuring successful implementation for immediate return on investment. Our solutions allow precise control of technology ownership through a fee structure based on closed loans. With PCLender as a partner, lenders pay far less, for much greater performance.

Customer focus: We consider our customers to be partners in the implementation, support, and development of mortgage tools. We remain their technology partner and continue to assist with all automation needs.

Integration: PCLender provides multiple automation tools integrated to function together seamlessly. This reduces the need to acquire, implement, and support multiple technology systems and hardware. Additionally, there are no requirements to patch several systems together — an advantage that reduces costs and technology gaps in the life cycle of a loan.

Mortgage centricity: Our products are built by mortgage bankers who understand the unique mortgage business workflow. We provide busy professionals the technology tools needed to grow and produce loans more efficiently.

Remote access: PCLender tools and systems are available from any location with Internet access, and there are no LOS licenses or installation fees for additional users.

Scalability: We support lenders with as few 15 closed loans per month to as many 2,500 loans per month. Costs are reduced for smaller lenders through the multi-tenant system managed by PCLender

Security: All data and hardware is located in a SSAE16 certified data center. PCLender is also SSAE16 and PCI certified for internal controls related to the support of our LOS and ApprovedFast applications. User rights are configured to support compliance with file access and edit rights. For more detail on PCLender’s security processes, please click here.

Service level: PCLender provides a pricing and support model unparalleled by off-the-shelf loan origination products, offering 24/7 administrator support for the life of the contract. Support personnel possess years of technical and mortgage business experience focused on building customers’ businesses. We provide the most current version and tools without additional upgrade costs.

Simple implementation and support: PCLender’s mortgage automation and tools provide simplified set up and maintenance. Our customers are typically up to speed in less than 45 days and often obtain immediate cost savings and improved service levels. We automatically deploy updates to the system with new version releases, eliminating the requirement for IT server expertise.

Best Business Practices

PCLender is committed to setting the standard for mortgage technology. Our solutions put best business practices to work.

At PCLender, we:

  • Allow our client’s staff to prequalify, originate, process, approve, close, track, settle, and report mortgages in a single system. This creates a seamless transition between all activities and avoids the gaps found in integrating multiple solutions
  • Partner with the industries best third party vendors to create a seamless “Best of Breed” working environment. PCLender supports “lights-out” integrations with Document Providers, Pricing Engines, Compliance, Fraud, Appraisal Management, Flood and other providers.
  • Offer and manage integrated guidelines, rules, and business processes to assist with data security, data collection, proper disclosing, loan pricing, loan approval, and pipeline management
  • Provide loan-level reconciliation to allow for tracking profitability by originator, branch, channel, product, investor, and more. By tracking loan-level gross profitability, loan sale deviation, and revenue deviation, we make it easy to identify areas of risk as well as opportunities to improve operations and bottom-line revenue
  • Supply more than 2,000 processing and underwriting forms that support conventional, FHA, VA, nonconforming, subprime, and construction loans; home equity lines of credit; and second mortgage programs
  • Provide bi-directional integrations with Fannie Mae, Freddie Mac, FHA Connect, and other automated underwriting and loan pricing systems
  • Are staffed with mortgage banking specialists familiar with agency guidelines, HUD/VA loan programs, and automation procedures to support lenders’ portfolios and private-label loan products
  • Partner with industry experts and consultants to provide mortgage services that include investor relationships, rate sheet generation, mortgage banking policies and procedures, job descriptions, and support for simplified loan delivery processes

Compliance

PCLender’s LOS is designed to help lenders meet compliance requirements. Our fully hosted design enhances data protection, and a host of compliance features and functionalities make our company the leading mortgage lending technology partner for midsized institutions.

Compliance features include:

  • SSAE16 and PCI compliant infrastructure certification
  • Removal of customer stored data from all workstations and laptops
  • Integrated loan program guidelines and data, ensuring that loan programs are properly identified and disclosed
  • Off-site backup for disaster recovery and business resumption
  • Advanced password management for third-party vendor systems
  • HMDA data tracking and final reporting
  • ECOA tracking and issue identification
  • High-cost lending validation through vendor tools
  • Data checks that can be placed to ensure proper data gathering before key activities are completed
  • NMLS and State licensing tracking for lender, brokers, appraisers and other vendors
  • Configurable-user security rights based on user’s role and loan status
  • Audit and logging of loan level data for key activities and fields

Competitive Advantages

PCLender offers enterprise features not found in many other mortgage banking software platforms:

  • Consumer direct application and support portal
  • Single page LOS loan qualification screen
  • Loan program comparison tool
  • Refinance analysis screen to show cash flow savings, interest savings, number of months to recoup nonrecurring closing costs, and number of years to pay off new lien with payment savings
  • Interactive 1003 screen for quick navigation and system reviews
  • Address book for quick search of contacts’ pertinent data
  • Auto-calculated fields for mortgage insurance, Loan Estimate fees, APR, first payment dates, impounds, reserve collections, suggested print forms, and suggested status items for loan processing and approval
  • Customizable forms, documents, and reports that enable the system to conform loan origination and data security business practices
  • Drag-and-drop capabilities for ease of use; automatic processing of income and expenses; and customizable status bar showing loan number, borrower name, qualifying ratios, payment savings, total of bills to be paid, hints, and more.
  • Debt service ratio options for owner-occupied rental income and second home expenses
  • Easily customizable defaults for new loans set-up
  • Easy-to-complete prequalification and loan application forms that simplify the mortgage process for borrowers
  • Flexibility to print, save, and continue a loan program in the middle of completing a loan transaction
  • File status and workflow management screens that automatically track loans from origination to post-closing
  • Increases in productivity that dramatically improve service levels for customers and ensure timely closings
  • Rapid implementation with no heavy upfront investment or continuous maintenance of hardware and software
  • Secondary marketing tools to determine and track the cost of funds from pricing, locking, and secondary market delivery
  • Interim servicing, warehouse management and trade/commitment tracking tools
  • User-friendly loan origination software that staff can easily learn with the assistance of free online classes and video based training modules

Mortgage Lending Services

PCLender partners with mortgage industry experts to provide the requirements to complete strategic plans for mortgage banking. Our team includes experienced mortgage professionals and consultants to ensure successful implementation.

Services include:

Strategic planning: Addressing measurable milestones for mortgage bankers, including defining the required resources for effective loan production, compliance, and secondary marketing delivery.

Business process reviews: PCLender establishes industry-standard benchmarks through reporting and file reviews. We document and summarize findings to support that file quality is directly linked to profitability.

Outsourced services: Rate sheet generation and LOS administration may be provided on a temporary or permanent basis. Loan level operations support for contract file set-up, processing, closing and file reviews/audits within the LOS

Policies and procedures: PCLender offers lender policies and procedures combined with system functionality to ensure a useful resource for supporting staff. Additionally, job descriptions and workflow checklists can be provided to ensure loan delivery is always completed efficiently and with the appropriate quality controls in place.