Point includes all the functionality and forms that loan processors require to process a loan, including verification forms and the Transmittal Summary (Form 1008). The Borrower Information screen provides easy access to all the forms, verifications, lenders, and service companies you need to prepare the loan package for submission.
Process and Flow
The first thing that processors notice about Point is that they can go directly to any form they want. With the exception of FHA and VA loan flow, Point allows you to complete tasks in the order you prefer. Data flows from one screen to the next without having to be re-entered. And you won’t get lost when navigating in the application—the same toolbar is always at the top of the screen. You can go directly from one form to another, in any order you’d like. Point also allows you to set up your own custom Shortcut toolbar that stays right on your screen, so you can access frequently used forms even more quickly.
Flexible Calculations
In Point, almost all calculations are done automatically and others can be executed with readily accessible calculators. Within many fields, calculation can be overwritten with manually entered values. These features give you the control and flexibility you need to process the way you want.
Multiple Loan Types
Point is especially good at handling types of loans that are often difficult to generate in other mortgage applications. Examples include nonowner-occupied properties and multiple co-borrower loans—just to name a few. Point can easily accommodate a wide range of loans with its flexible forms and calculators that work the way you do. You’ll never have to freeze the 1008 and manually override the calculations to generate the printed version you need for loan submission. With Point, the printed forms that you submit to your lender will always match your file.
Forms
In addition to the 1003 Loan Application, the Good Faith Estimate, and Truth-in-Lending forms, Point contains the numerous forms required to prepare the loan package for submission, including Mortgage forms; basic FHA and VA forms; and the 1008 Uniform Underwriting and Transmittal Summary—just to name a few.
View List of Forms
Closing
Whether you close loans in your company’s name or in the lender’s name, you can take advantage of interfaces to closing document service partners. Built right into Point, these interfaces enable processors to send data directly to the closing document software. The speed and ease of data transfer eliminates costly errors often made when data entry is rushed, and it enables loans to close more quickly.