January
2008 |
The true BestEx™ pricing module now includes a new detailed 'view' for single product searches. The Ratelock Directory screen now includes statistics and a graph for units and volume by investor. Loan level profitability as well as weighted average profitability by origination channel has been added to the Ratelock Directory XLS 'File Download' feature. |
December
2007 |
Due to the ongoing 'declining markets' issue, iMort™ now handles LTV/CLTV reductions, Max LTV restrictions or lending exclusions based upon geography. Rules can now be built (by Mortrax or our Client), using zip code, County, State, MSA, or any combination of geography groups. |
November
2007 |
The Rate Lock Directory Utility has been enhanced to provide an XLS download file. This file contains 28 data elements about each locked loan as well as a sophisticated summary (including items such as Doc Type, Occupany, Property Type, Weighted Average information and much more). This XLS download file also allows our Clients to peform their own analysis on the data. |
October
2007 |
FNMA 3.2 File Upload process was re-designed to allow our users greater flexibility with getting their LOS records into iMort™. We enhanced the DTI and 'true' cash-back calculations to be consistent with lending standards vs. the physical 1003. |
September
2007 |
The Usage Monitor was created to allow Clients to track specific usage by date range for user, branch, or company. Since many of the iMort™ loan transactions are not considered billable, there is a summary of billable vs. non-billage transactions. A detailed audit is provided for individual case numbers, or there is a XLS file download feature. This file contains a large amount of data about each transaction as well as a sophisticated summary (including items such as Doc Type, Occupancy, Property Type, Weighted Average information and much more). This XLS download file also allows our Clients to peform their own analysis on the data. |
August
2007 |
A new 'Max DTI' scenario mode has been added to the iMort™ Engine. This new option augments the existing Max LTV/CLTV, Max Cash-Back, and Min Credit Score scenario mode searches. These modes can be used individually or in combination with each other to provide the user available financing options ... rather than playing the 'guessing game' related to these loan data elments. It is also a great way to educate the originators about the different financing options that exist for a specific loan profile. |
July
2007 |
The iMort™ Engine now has an optional zip code field. Rather than choosing the State and County from the dropdown lists, the iMort™ Engine search page can populate those two fields by providing a five digit zip code. This also allows the MSA code to be acquired for the guideline analysis process. |
June
2007 |
The User profile in the Company/Lender module now includes options for Weekend Pricing, Program Alias, and Estimated AM pricing. Weekend pricing allows access to the iMort™ pricing engine for 'off hours' and weekend origination tasks and GFE quotes ... without being able to lock the loan. Ther Program Alias setting allows users to be treated individually where some may be subject to 'Program Alias' names, while others are not and can see the actual investor and program name. Finally, the 'Estimated AM pricing' gives the user access to pricing for all programs and products at approximately 9:30AM EST, which are generated by a sophisticated algorthym and stay in place only until actual morning prices are received from the investors. |
May
2007 |
A XML Web Service has been added that allows a 'auto log-in' feature. Now ... our Clients that utilize a secure log-in area of their own website can pass their users directly into the iMort™ Engine without the need for a user to have a iMort™ User name and Password. This allows a Client's users to access their secure website, with log-in credentials they continue to control and manage, while accessing iMort™ seemlessly ... giving the impression that iMort™ is built inside the Client's own web site environment. |
April
2007 |
The true BestEx™ Payment Option pricing now includes the adjusted Payment Rate based on the investor's calculation policy. This is in addtion to the Note Rate, Price, and Margin adjustments that are used on every loan type. Now ... true BestEx™ pricing on a Pay Option ARM or Fixed loan is based upon adjustment Payment Rate, instead of Note Rate. |
March
2007 |
The loan search Audit Window now gives supporting details on any Counter-offer program, thereby showing the specific reasons. Previously, a detailed Audit could only be performed on a Failure program. |
February
2007 |
The Company/Lender/User module now allows a user to be designated as Inside Support. By doing so, that Inside Support user can then be assigned to the User records that they support. This gives the Inside Support user Pipeline acess and ability to run loans on behalf of the Retail User or Wholesale A/E's brokers that they would now have access to. |
January
2007 |
iMort™ version 3.2 is released with Microsoft’s® .NET architecture that improves response time and allows us to offer more analysis without sacrificing efficiency. Mortrax is the first company, dedicated solely to mortgage lending technology, that offers a complete ASP.NET web solution. |
December
2006 |
The new Pipeline Pricer module allows a file to be uploaded with virtually an unlimited number of loans. You can provide your files in a Microsoft Excel file format, or using an XML structure. After your data has passed our ‘research filter’, each loan is evaluated using the same logic contained in the iMort™ Engine, including the true BestEx™ pricing determination. This allows the loans to be analyzed for program compliance, as well as pricing valuations, within 2-3 seconds per loan. Imagine being able to price a loan package, verify eligibility, and see accurate loan-level statistics accurately and efficiently. The iMort™ Pipeline Pricer provides our users complete control of a loan package (or an entire pipeline) when time is critical for large scale analysis. |
November
2006 |
A new description editor is added to iMort™ Lender module which allows the administrative user to have greater control over the way terminology is used when describing loan attributes and products. |
October
2006 |
The Rule Editor now has five more fields. With just a few clicks, it is now possible to create the most precise rules for program availability and pricing structures in the industry. One of the most powerful of these enhancements is the ability to create profit rules by percentage or dollars. More than 70 data elements can be built into a lending and/or pricing rule within seconds, making the iMort™ Rule Editor, the most scalable and flexible available in today's marketplace. |
September
2006 |
Your corporate image and brand identity can now be customized at the Region level. Now it is possible to have a different look and feel for each business unit, rather than being limited to a single corporate brand. This enhancement allows customized ad campaigns to run simultaneously within your Retail, Wholesale, Correspondent, or e-Commerce channels. |
August
2006 |
The iMort™ Engine now provides current index information in the online ratelock system with a link to an extensive index and rate history module containing data since 1990. |
