Finance Articles

Direct Mortgage Wholesale Announces Loan Software Release That Will Simplify Choosing A Loan

Salt Lake County, Utah (PRWEB) August 8, 2007 -- Direct Mortgage Wholesale (http://www.directmortgagewholesale.com), a wholesale mortgage bank, will soon release a new version of its proprietary loan origination, processing and underwriting software (http://www.directmortgagewholesale.com/mortgage_loan_software_wholesale.html) with a powerful new feature called Loan Choices?. This feature instantaneously presents qualified loan choices, reduces the broker's work load, and speeds up the loan process.

Loan Choices (http://www.directmortgagewholesale.com/loan_choices.html) simplifies a broker's life, turning the time-intensive process following file submission into 3 simple steps: selecting a loan, monitoring processing status, and scheduling the closing.

Upon uploading the application, Loan Choices? will show simple sets of loan choices based on user-submitted criteria and predictive analytics, which also amazingly presents loan programs the loan officer might not have thought about.

Once a loan program is selected, the loan officer can literally sit back and wait for the processing to be completed. Direct Mortgage and its software will do all the processing and underwriting. As the loan progresses, automatic status notifications will be sent via email, fax, or text message to a cell phone.

"When we started building our software in 1996 we thought it would take two years," said Jim Beech, CEO of Direct Mortgage. However, as his company sought to create a software solution that would do everything from beginning to end, the system became incredibly large. "It took the next nine years to make it incredibly simple with fewer and fewer clicks," Jim continues. "The steps are now getting really simple, and the clicks are fewer."

Much more than just an automated underwriting system, DirectWare? will order all the necessary processing services on behalf of the loan officer - services such as the appraisal, credit, hazard insurance, employment verification, asset verification, and title search. It will also take users through a wizard to ensure that they've provided all the required information.

When Loan Choices? is released later this month it will simplify loan officers' lives and allow them to spend more time finding new business and generating more revenue - all while producing a much higher quality loan for the secondary markets.

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