The Scotsman Guide, self billed as “The Leading Resource for Mortgage Originators”, is a monthly publication geared toward the mortgage origination and mortgage finance space. The Scotsman Guide offers print and online versions of each month’s offering. There is a commercial version and residential version of the magazine published monthly.
Ellie Mae, Inc. is the company behind Encompass loan origination software. In addition to providing closing solutions, Ellie Mae provides solutions for mortgage bankers and mortgage brokers. Encompass is a hosted service, otherwise known as SaaS or software as a service, users connect to the web to use Encompass with no need to download and install software.
Ellie Mae Broker Solution Features:
- Reporting & Visibility
- Marketing & Relationship Management
Calyx Software makes loan origination software for mortgage brokers and bankers. Calyx Point is Calyx’s extremely popular loan origination solution that is offered as software to download or as SaaS (software as a service) under the PointCentral brand. Calyx also offers mortgage websites that are branded as WebCaster.
Calyx Point gives loan officers and mortgage bankers tools to make the following processes more efficient: loan marketing, prequalification, loan origination, automated underwriting and loan processing.
From the Calyx website:
MortgageDashboard offers SaaS (software as a service) broker, banker and closing solutions. MortgageDashboard competes against other popular loan origination software providers such as Calyx Point and Ellie Mae’s Encompass software.
From the MortgageDashboard website:
MortgageDashboard is not your average loan software. The completely paperless system has everything mortgage brokers and bankers need from origination to funding, and it’s all available online. With everything from seamless ordering of vendor services to paperless, online document management, MortgageDashboard has you covered. With solutions for easy marketing, effective administration and powerful pipeline management, MortgageDashboard helps you build your business while keeping you organized, compliant and in control.
Broker Features from the Mortgage Dashboard Website:
LoanSifter offers “Advanced Product and Pricing Search for Mortgage Professionals”. LoanSifter helps mortgage professionals price their loans and saves the results for future reference. Once loans are in the pipeline, LoanSifter will continue to update users on changes in pricing as the mortgage market moves.
Leads360 is lead management software company that services the mortgage, debt, insurance, loan modification and education verticals. Their solution enables company to sync the Leads360 interface with many of the leading lead providers to provide efficient management and distribution of leads.
NYLX is a self described “Product Eligibility and Loan Pricing Engine”, or in short, a loan pricing tools for mortgage professionals. NYLX was originally the engine behind TheMoneyStore.com when the company decided that they could enter the loan pricing market and take market share with their existing tool.
LenderHomePage.com is a mortgage website design company that builds mortgage websites and offers mortgage marketing services. LenderHomePage offers a wide variety of template mortgage website styles.
Great news on the HVCC front. On June 25th, Representatives Childers (D-MS) and Miller (R-CA) introduced HR 3044, legislation that calls for an 18 month moratorium on HVCC.
There has been significant fallout from the enactment of HVCC including, higher costs for consumers, devastating loss of income for independent appraisers and increased loan turn times / fees. I can’t stress enough that for all the good intent, HVCC does more harm to the end consumer than good in the form of higher fees, longer turn times, and increased loan fees related to extending rate locks.
Not only would the passing of HR 3044 help refinance and purchase and turn times but would also help displaced appraisers that have been significantly harmed by the required AMC component of HVCC. Unfortunately many industry veterans have already left when HVCC was enacted as they were simply unable to continue making a living under the enforced AMC system. It isn’t out of the real of possibility that if HR 3044 was enacted that when it ends HVCC could be completely absolved or at least re-written.
Some signs are pointing to recent NAR pressure as being responsible for the creation of HR 3044. Unfortunately the NAR was completely silent about the ramifications of HVCC until after the fact. I wrote over a year ago about the lack of leadership exhibited by NAR President Richard Gaylord when he failed to mention a single bad element of that actually mattered in HVCC.