Direct Mortgage Wholesale Announces Revolutionary Loan Software That Simplifies Choosing a Mortgage Loan Product

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Direct Mortgage Wholesale, a wholesale mortgage bank, has released a revolutionary version of its proprietary loan origination, processing and underwriting software that makes finding the right loan and collecting the closing conditions the easiest steps in the origination business. This software makes choosing a loan product easy, reduces the broker's workload and speeds up the loan process.

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The steps are now very simple, and there are very few clicks required.

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Direct Mortgage Wholesale, a wholesale mortgage bank, has released a revolutionary version of its proprietary loan origination, processing and underwriting software that makes finding the right loan and collecting the closing conditions the easiest steps in the origination business! This software makes choosing a loan product easy, reduces the broker's workload and speeds up the loan process.

Using patent-published technology, Loan Choices™ simplifies a broker's life, turning the time-intensive process into 3 simple steps: selecting a loan, monitoring processing status and scheduling the closing.

Commenting on this service, James Beech, CEO of Direct Mortgage, stated, "Loan Choices has the ability to heal and repair many mortgage industry ills by creating a best of class loan product offering for a prospective borrower -- then validating their entire application data with its integrated vendor solution -- a condition gathering and back office solution, which virtually removes any possibility of fraud."

Upon uploading a complete application, the loan is automatically run through DU and Direct Mortgage's own automated underwriting system (AUS), so the officer never has to manually input DU information again. LP is also integrated within Loan Choices. If for any reason the loan application is incomplete, a loan application wizard prompts for any needed items. Simple sets of qualified loan choices are presented with the best loans sorted to the top. These choices are based on two categories: user-submitted criteria and predictive analytics -- which amazingly presents loan programs and loan combinations which the loan officer might not have thought about.

The presented loan options include PI and PITI with accurate MI (mortgage insurance). This provides a simple comparison of loans with MI, no MI, Lender Paid MI and combos.

Direct Mortgage also provides an option to process the loan on the broker's behalf. This means that once a loan program is selected, the loan officer can literally sit back and wait for the processing to be completed. As the loan progresses, automatic status notifications are 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 Beech. 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 several years to make it incredibly simple with fewer and fewer clicks," he continued. "The steps are now very simple, and there are very few clicks required."

Much more than just an automated underwriting and loan execution system, DirectWare includes a powerful processing and closing engine where all the necessary processing services can be ordered on behalf of the broker -- services such as the appraisal, credit, hazard insurance, employment verification, asset verification and title search. This saves time, keeps the broker up-to-date on loan files and allows a real-time view of the status of all conditions.

The incredible Loan Choices™ can simplify and dramatically speed up the home lending process for borrowers and loan officers -- and provide a much better customer experience overall. Additionally, the secondary mortgage security market can benefit from the higher quality loans produced.z`

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