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WEB-BASED – 100% ONLINE SYSTEM
Eliminates costly expenses for securing and maintaining servers and VPNs. Access complete loan files anytime, anywhere in the world with the use of a PDA, Cellular Phone, Lap Top, or PC Internet Access.
SECURE DATA
1003POWER provides the most advanced security available, so neither you, nor your company, ever have to worry about constantly buying expensive upgrades or dealing with the stress and "what-if" of maintaining your own servers.
PAPERLESS FILES
- Eliminates paper files, searching for documents, faxing back and forth.
- All documents are available in one secure place accessible from a laptop or desktop, PDA or mobile phone.
- File Control - users can upload loan documents to an electronic file on their computer for easy reference and access.
- Multiple viewers- Mortgage brokers and clients can access the documents with a high level of security. No need for copying and sending documents, or scheduling meetings in the office. Brokers can work anytime from any location and always have access to needed documents. Clients can review their application process online at any time.
INDIVIDUAL SECURE LICENSE KEYS/LOGIN
1003POWER provides security to each license key. It is administered by the mortgage broker who assigns different levels of security to limit access to their company files and/or closed loans.
24/7 BORROWER LOGIN WITH BROKER CONTROLLED DATA
The borrower receives a username and password to view certain broker-selected loan documents and a conversation log. The information that the broker allows the borrower to view is available online at all times.
MULTIPLE VIEWER ACCESS
From anywhere in the world, discussing issues with loan officers and processors has reached a new level of ease, surpassing your current software. Brokers, lenders and borrowers can view the same file at any time from different locations, eliminating the communication problems associated with today’s tools.
LOAN INFORMATION
Find information on credit reports and other loan documents in one place on the Loan Information Page (also known as the Borrowers Information or Borrowers Summary page), which includes detailed information to determine loan approval without having to refer to your 1008,1003 or Credit Report. Keep your files organized by viewing your Loan Status, Loan Documents and Conversation Log from 1003Power Loan Information Screen.
AUTOMATED DATA TRANSFER
Create 2nd mortgages with the ease and speed you would never get from software. All information from your first mortgage file will automatically transfer to your second file and vice versa , eliminating unnecessary mistakes and lost man-hours. (the space between the word "lost" and "man-hours" is too close there needs to be another space.
INSTANT LOAN PROPOSALS
With 1003POWER's speed and accuracy, you'll never again have to rely on software to create customized loans from a personalized template. This makes it easier than ever before to generate proposals.
UNIQUE CALCULATORS
Calculators for Prepaid Interest, Reserves, Pay-Offs, and Prepayment Penalties minimizes the difference between the Good Faith Estimates and HUD Statement closing costs. Available soon in Version 3.0
PERSONAL CALENDAR - COMPANY BULLETIN
Rack all your appointments and meetings on your personal calendar. List special events or mandatory public or company meetings. Each individual within the company will automatically receive posted information in the Company Bulletin. Available soon in Version 3.0
LENDER DATABASE
In just minutes, brokers can submit a loan to the lender database and receive loan approvals and/or pricing from participating wholesale lenders nationwide, eliminating the frustration of extra faxes and calls. Available soon in Version 3.0
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EMPLOYEE DATABASE
Pick up where software leaves off as you set commission structures, company fees and security-access file levels, making your business more efficient than ever before. Available soon in Version 3.0
ACCOUNTING
Manage your business from top to bottom, creating billing accounts for individuals responsible for credit report cost, appraisal fees, company desk fees, etc. Available soon in Version 3.0
AUTOMATIC REMINDER NOTIFICATIONS
1003POWER gives you the time to run your business, rather than stressing about how to market it. Now you can go beyond antiquated software and automatically email customized reminders to clients on everything from refinancing loans to holidays and birthday greetings.
1003POWER makes things simple by automatically updating Pipeline Reports on newly created loan files. Simply login, then immediately begin viewing customized reports on your personalized home page.
1003POWER gives loan officers the unparalleled ability to set percentage thresholds for client databases. 1003POWER automatically emails borrowers when interest rates drop below a customized percentage threshold.
- Example: Threshold is set at 1% and today's interest rate is 6%, all borrowers holding interest rates of 7% or above will receive an email notification to consider refinancing.
RECEPTIONIST
1003POWER speeds up the process with a specially-designed database created for all personnel answering phone calls to increase communication. For your convenience, borrower information limited to phone numbers, address and e-mail addresses. Available soon in Version 3.0
TEMPORARY USERNAME AND PASSWORDS
When officers or processors are unavailable, a temporary username and password can be created for the professional who will follow-up on designated files. Available soon in Version 3.0
1003POWER Version 3.0 - ADDITIONAL FEATURES
- Ability to save and upload Fannie 3.2 files into any lenders system
- Ability to email directly from the system
- Ability to save complete file on a disk
- Run DO/DU
- Auto populate credit report- Credit Scores and Liabilities
- Create 2nd Mortgages instantly
- Changes to 1st mortgage will instantly change 2nd mortgage info and vice versa
- Customize your reports
- Ability to switch borrowers easily
- Borrower login (only documents selected by users will be available to view on the borrower login section)
- Borrower will only see Loan Status selected by user
- Borrower access will display 1008, 1003, GFE, and TIL by default
- Any updates or changes to the 1003 or GFE will automatically change on the borrower site
- Ability to print Loan Status, Conversation Log and Amortization Schedule
- Borrower’s conversation log will automatically merge into user conversation log (time and date stamped)
- Borrower will also have the payment calculator and view amortization schedule
- Multiple viewer capability
- Security Levels – 3 levels: 1 Administrator/ Broker, 2 Manager and 3 Loan Officer/ Processor
- All files in Closed Status will be in view mode only
- Brokers can elect to have users pay their own subscriptions
- Broker/Administrator can view all files within the system
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