Product Functionality Definitions

Automated Loan Eligibility Evaluation: Loan Finder Express and LendTech Mortgage offer the functionality to evaluate loan eligibility against the loan products you've specified, resulting in one or more possible scenarios of an available product and price.

Automated Loan Origination: LendTech products capture loan information entered once and dynamically feed it to subsequent screens for analysis to establish eligibility based on specified criteria, with or without credit. By automating the loan application process and estimating the feasibility of a loan, both evaluation time and cost per loan are reduced, letting you refocus efforts on the most profitable business.

Credit Pulls: Within all ARC Systems products, you have the ability to request, receive, and compare credit history from more than 150 credit vendors to ascertain the most in-depth view of any loan application or closed loan.

Validation of Entry Items: All ARC Systems' products contain field-level validations to ensure all necessary information entered is complete and appropriate to your business.

Quality Control Checklist: With the use of a quality control checklist in some LendTech products, you can ensure your guidelines and compliance standards are met. This means underwriting guidelines are applied the same way every single time, resulting in consistent loan evaluations across your business.

Automated Loan Pooling: LendTech Investor and LendTech Diligence evaluate loan pool information against your customized guidelines to analyze the pre- and post-purchase standards, reducing the risk of purchasing a loan pool that does not meet your expectations. When manually evaluating loans, a standard 20% sample rate is evaluated to minimize overhead and derive a representation of the overall pool status. Electronic evaluation means 100% of the pool is analyzed in a few minutes, or a few hours at most, depending on the size of the pool. Each loan in the pool is evaluated and then reported in a summary on the loan pool level.

Due Diligence: LendTech Diligence gives you the power to investigate and audit a potential investment to confirm all available facts involved in a pool of closed loans. Standardized investment reporting and underwriting depth evaluate pools of flow and bulk loans across multiple investor guidelines. Information is verified to ensure the pool meets investor standards, expectations, and criteria.

Side-by-Side Product and Pricing Comparison: Loan Finder Express and LendTech Mortgage present product-comparison views with product-specific programs and applied rate specials. Multiple products and investors' offerings are provided for a single loan scenario with an adjusted price. With the flexibility to evaluate potential loan information against a variety of loan scenarios prior to completing a full application, you can view a list of pricing choices while requiring minimal information and input, such as source of income and a manual credit score.

Combo Loan Functionality: ARC Systems' products deliver the ability to best evaluate both first and second lien products simultaneously against common loan application data. Our functionality allows you to use the evaluation criteria appropriate for the loan to issue high-level eligibility or full underwriting decisions for the products in a combo loan. You may also designate separate stipulations applicable to the first and second loans, adjust products for product/pricing comparisons, and select and compare different products.

Automated Underwriting: LendTech's powerful automated underwriting engine yields an accurate loan decision, based on your custom guidelines, in less than 30 seconds. Automation reduces human processing, such as pushing paper, etc. LendTech's flexibility still gives your underwriters the control to manually override a decision when necessary.

Decisioning Engine: LendTech's powerful decisioning engine automates the manual process of analyzing a loan application based on your specified criteria to determine product and pricing options and approval feasibility. By assigning loan statuses and dispositions without human intervention, our decisioning engine runs loan application data through multiple levels of detailed evaluation. With LendTech, the decisioning engine delivers the flexibility to evaluate potential loan information against a variety of loan scenarios and uses unlimited combinations of credit information in the process. Loan Finder Express evaluates a basic loan scenario against your lender product offerings prior to completing an application. It creates scenarios for available products and produces a fully adjusted price. Pre-filtering the scenarios in this way helps you determine whether a borrower should be pursued as a customer.

System Administration Function: With the System Administration feature in Loan Finder Express and LendTech, you control your business partner information and user accounts, among other administrative functions.

Customized Views: Your logo and color choice will be displayed when your users log on. Additionally, a customizable lender home page can display calculators, links to resources, and specific announcements.

Updateable Program Limits: Within Loan Finder Express, you can manage changes to program limits or rules while continuing working and processing with minimal interruption to the process.

Customizable Guidelines: LendTech lets you update and manage your guidelines on-the-fly using an online form or via file upload.

Product Updates: We empower you with the control to dynamically update and manage changes to your existing product offerings.

Stipulations Maintenance: As a client-controlled right, you can manually update and manage standard stipulations for each loan, including indicating whether a specific stipulation has been met. With the customization ability of a LendTech solution, you may update the behind-the-scenes logic to trigger stipulations so they are generated appropriately.

Rate Lock: LendTech Mortgage locks the rate in the system for an established period of time when the borrower is ready to secure an interest rate. This feature allows for lock extensions and lock expirations and ensures the rate is locked to a certain rate sheet, no matter how the rates fluctuate. With this guarantee for effective dates for rates, you can provide that special touch of customer service to your borrowers.

Rate Uploads: You can manage date-specific interest rate information for different programs on an as-needed basis with the help of our technical support team or on your own using an online form or by uploading an entire rate sheet. This ensures all of your users are working from the latest rate data. A special feature allows you to set an activation date for rates and enforce rates retroactively, enabling you to better manage your rates.

Status Tracking and Reporting: ARC Systems' products offer a variety of tracking and reporting systems for all facets of the loan process.

Pipeline Management: Within LendTech products, you can manage the items in your pipeline, such as estimating how many loans will close and how your company will fund those closings, as well as keep track of warehouse line limits and requirements.

Work Queues and Workflows: Work Queues and Workflows within ARC Systems' products serve various purposes—from easing transition into implementation and reducing training costs and time to market, to enabling users to route loan applications to the next step in their business process. An established work queue structure supports shared access and a flexible workflow to grow with your business. Based on your process, users start out utilizing an automated version of the processes with which they are already familiar. Workflow and Work Queues are automated to modify loan status, disposition, and stipulations, as well as to prompt others on your team for their review.

Various Import and Export Formats: ARC Systems' products allow various file types to be imported and exported into the loan application—from the common DU file format to CSV-formatted files, and many others. With this flexibility, loan information only has to be entered once after originating the loan.

Internal, External, and Group Security: All ARC Systems products offer the peace of mind that comes with an extensive security infrastructure. We maintain—onsite—a hardware infrastructure and network design that limits vulnerability to environmental or system-wide disturbances. Our 100% redundancy strategy maintains data and system integrity. Our live off-site back-up servers are always ready in case of a natural disaster.

Web-based User Interface: Using a web-based, Application Service Provider (ASP) model, your staff can focus on loan production, rather than maintaining another software application. Our proven ASP model lowers information technology costs because we maintain the security and data integrity.

Updateable Applications: Within all ARC Systems products, all loan information can be updated in one location using our web-based interface.

Third-Party Interfaces: We share information from our system to others during various stages of loan processing, such as for receiving mortgage documents and credit reports. If we do not have an existing interface with your preferred vendor, we can work with you to develop a new interface so you may continue to maintain your business relationship with that vendor.

Adjusts to Application Volume Growth: Our products grow with you to accommodate change. By monitoring your business processes and system functionality, we anticipate your increasing volumes and act quickly to ensure operations run smoothly.

Accommodates Business Model Expansion: All of ARC Systems' products evolve to accommodate your business model changes and incorporate various workflows. This gives you the flexibility to make adjustments automatically when conditions change. By defining the desired results of automating your existing programs and services, we ensure that our solutions mirror your business processes.

Migration Path to Enterprise System: With Loan Finder Express, when growth demands deeper decisioning and more integrated support of business processes, you'll have a smooth transition to our enterprise-level LendTech products.

Customizable: Like no other mortgage software offering on the market, all LendTech products have the ability to be fully customized to your organization's specific guidelines, business processes, workflow, and rates. We can incorporate triggers and various reports to provide you the most efficient solution to meet your business objectives.