FullCircle is a Cloud Based Mortgage Quality Control Auditing Software platform particularly used by Banks, Mortgage Banks, Credit Unions and Mortgage Outsourcing Companies. This software is used primarily for Post-Closing Audits and Pre Funding Reviews. But now it come with special features for outsourcing companies in addition to all features for lenders. Outsources may add as many customer levels as they need. The good thing about FullCircle QC Software is that is has its own database which make easy invoicing less than 1 minute to create a new invoice. It allow system to count each loan reviewed, the number of new credit reports and desk reviews completed for the available credit.
Get the best cloud based mortgage QC platform to streamline the mortgage approval process. Vital Features that you’ll need include:
Managing only one mortgage can take hundreds of pages of documents and if you need to add multiple versions that number can reach into the thousands. If you want to escape from such problems, look for online document portal system which ensures that documents remain as it is and easily edited and amended. Cloud mortgage software means you need less time in managing documents and get more time for helping your clients.
Since many years, mortgage lenders have had to deal with an increasing number of regulations and fulfillment laws curtailing from arrays of regulations like reality in lending, equal credit opportunity act as fair housing act, real estate settlement procedures act, new homeowner’s protection act, nationwide licensing systems and standards.
These laws are enforced to protect consumer’s right and help to bring a host of hurdles that mortgage lenders to address when working with clients, specifically around security. But you need to ensure that your mortgage platform is going to offer a secure method of document collection and storage.
Mechanic Updates and Verification
Since the cloud based QC software offer many individual updates, you find easy to give to your clients. With mechanic updates, you can easily send messages to your clients especially when you’ve reached specific stages in the mortgage process, keeping them updated and also reduce hours of talk time for your team.
Earlier,asset verification was one of the most time-consuming part of the mortgage lending process because customers were able to obtain these documents physically by going into their bank branch or accountant’s office. With mechanic verification system, you can help your clients to handle fewer sensitive documents simply by providing asset verification within minutes, hours or days.
Make use of mortgage processing software to easily add and remove document requests and conditions, and also easily convert your forms into data file. It also helps to have a real-time loan pipeline management system to track where your loans are in the processing cycle.
So, take help of professional company which offer these features in their mortgage software and help improve your mortgage lending process.