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Moncor Partners With Calyx to Integrate Calyx PointBy James Comtois Now, Point users can access Moncor's transactional website, http://www.mmachine.net, without leaving the Point application. Mortgage Machine is a proprietary end-to-end server that facilitates a streamlined process based on the review of digital documents and the elimination of paper loan files. It allows users to submit digital images of documents for underwriting, closing and real-time loan status. Moncor Mortgage Bank's Wholesale Lending Division specializes in originating and closing prime loans that are fully processed with an acceptable automated underwriting decision upon submission. Moncor Mortgage Bank was founded as a mortgage broker in 1998 and became a mortgage banker in 2004. This interface provides brokers access to Moncor's products and pricing according to specific transaction scenarios and the ability to lock loans, a seamless upload of data directly from Point and to submit electronic images of loan file documentation. The combination of this process and products allows Moncor to provide aggressive pricing and superior service and response for brokers and their customers. This in turn provides greater profitability for both Moncor and Calyx business partners. "Technology is driving positive changes in the home loan
process with regard to how borrowers interact with lenders and the business models lenders rely on," said
Jeff Bode, vice president for Moncor, in a statement. "Mortgage Machine facilitates a level of efficiency
that is at the core of Moncor's process and business model. The integration inside Point extends that efficiency
to brokers and their borrowers." Point 6.0 integrates mortgage broker and banker functionality for the first time, in addition to adding new marketing tools, a new report generator at no additional cost and with no extra software needed. The new and enhanced features include: 10 new banker screens that provide report and status data for mortgage banking activities; new marketing tools to create custom letters, newsletters, promotional emails, and mailing labels instantly using Point data; richer reporting functionality; automatic Automated Valuation Model reporting; a repeat loan generator that creates new loans for existing customers by copying only the information contained on the loan application and omits automatically any information that does not apply to the new loan; and a new advanced search system. |
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