Point contains all the features, forms, and functions that loan officers need for loan marketing and origination, including Prequalification and Loan Comparison, just to name a few. Point also includes connections to lenders who offer automated underwriting services.
Loan Program Templates
Point provides three tools that make the paperwork-intensive process of working with loan files more efficient—Loan Program, Closing Cost Scenario, and Master file templates. To speed up data entry, you can generate a Loan Program template for each fixed or adjustable rate product that you use frequently. Once the template is created, you can select it from within a loan file and the information will be inserted automatically—saving time and reducing data entry errors.
Closing Cost Scenario Templates
Point also makes it easy to create Closing Cost Scenario templates and use them when filling out a Good Faith Estimate. You can create templates containing standard fees for different loan types—even for specific lenders—and access them from within the Good Faith Estimate screen. When selected from a drop-down list in the Good Faith Estimate screen, the appropriate fields will be populated automatically, greatly reducing data entry time.
Master Files
Point allows you to create Master files—or templates—for a loan file. Master files are identical to prospect or borrower loan files. Unlike Loan Program and Closing Cost Scenario templates, which contain data for a specific aspect of the file, a Master file contains all the fields in the loan file. Master files can be created for different types of loans. For example, you can create a Master file for purchase loans and complete the fields that pertain to it. Once the template is created, you can select it from within a loan file and the corresponding fields will be populated automatically. The associated screens, such as the loan application, verifications, and the tracking report, will all be populated simultaneously.