MLoan updates automated underwriting systemmortgagepress.comMLoan, automated underwriting, "MLoan for Dummies"
Mortgage Lenders Network USA Inc. (MLN) has launched MLoan, an
automated underwriting system that allows brokers to create, manage
and save multiple loan scenarios.
It also uses a "validate your value" feature, which provides
brokers with the ability to certify appraisals prior to submission.
This feature ensures that an appraisal value will not be questioned
when the final loan package is submitted. MLoan also pulls credit
reports for free. Brokers can import the case, pull a free credit
report, and click "submit." MLoan can exchange data with virtually
all loan origination software, such as Contour, Calyx, Encompass
and Genesis. Brokers can upload and submit a completed 1003 and
receive approval quickly.
While operating the system, users can access a built-in "help"
function that provides descriptions and definitions of MLoan's
features. Additionally, the MLoan Support Team is available by
phone Monday through Friday and may be accessed via e-mail.
MLN has written "MLoan for Dummies," a handbook and resource
guide for brokers. Written in the standard "Dummies" format, "MLoan
for Dummies" explains MLoan's features in a simplistic way, such as
how to import loans from loan origination software, pull credit
reports, view reasons for a loan referral, and more.
Based in Middletown, Conn., Mortgage Lenders Network USA Inc.
originates and services Alt-A and non-conforming mortgages. For
more information, call (800) 360-1231 or visit www.mlnusa.com.