Mortgage Banking Software Cuts Costs, Improves Reporting Capability
Press Release Archive - February 2005

VisiView® Mortgage Banking Software Cuts Costs, Improves Reporting Capability

As the booming home equity market keeps mortgage bankers busy, many are scrambling to keep up with increasing regulatory requirements. Add to that the per-transaction fees charged by the mortgage banking industry’s dominant servicing system, and it makes a strong case for warehousing data to reduce fees and improve reporting capability. Now Visionet Systems Inc. (www.visionetsystems.com) has released an alternative to traditional data warehouse solutions: VisiView®, a customer and product analytic and reporting system tailored to the mortgage banking industry.

“Creating a data warehouse from the ground up is costly and time-consuming. In contrast, VisiView® uses the client’s existing data to provide performance metrics and reports for every stage of the mortgage business lifecycle,” explained Arshad Masood, president of Visionet Systems Inc. “VisiView® is designed with mortgage servicing operations in mind. It connects to any LOS supporting DU/LP-compatible data output and supports feeds from the most widely used servicing system. This functionality alone can shave a year off of a data warehouse project.”

Built on open source technology, VisiView® allows users to track production profit and cost by customer and product. The system also provides analytics for every stage of the mortgage business lifecycle, including broker performance, origination quality, channel performance, customer profile, product performance, predatory lending compliance, regulatory compliance, escrow estimation, prepayment performance, cash flow, asset performance, delinquency trends and loss trends.

But the system’s biggest strength is its ability to impact a mortgage banker’s bottom line. VisiView® gives users the ability to perform a one-time, full data extract from the dominant servicing system; data can then be automatically updated daily or weekly, drastically reducing the number of times the system is accessed—and cutting vendor query and reporting expenses in half, said Masood. At the same time, VisiView® provides centralized data storage and reporting solution, eliminating the problem of multiple spreadsheets and databases being updated inconsistently throughout a company or department.

“Using the mortgage banking industry’s dominant servicing system, customers can only get live reports, not historical data,” explained Arshad Masood, president of Visionet Systems Inc. “As such, they cannot really analyze a customer’s or product’s characteristics and trends. That’s where VisiView® can help. It will allow executives to drill down to a task or a department level and yet roll up the results for better executive management. And VisiView® enables companies to make use of their data today. ”

ABOUT VISIONET SYSTEMS INC.

Visionet has spent the last decade working with the top mortgage companies in the country, building various mortgage industry-specific products and solutions and offering BPO service. In addition to VisiView®, Visionet products include retention management (VisiRetention®), post-close compliance and loan boarding automation (VisiLoanReview®), escrow float and shortage management (VisiEscrow®), automated lien release/reconveyance (VisiRelease®), default risk analysis, loss estimation and tracking (VisiLossAnalysis®) and REO. All of these products are web and workflow based and deigned to enable BPO.

For more information, visit www.visionetsystems.com

Visionet Systems Inc.
www.visionetsystems.com
3 Cedarbrook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
mortgage@visionetsystems.com

Contact:

Arshad Masood
Visionet Systems Inc.
609-452-0700 Ext. 1119
arshad@visionetsystems.com

Joy Harper
Visionet Systems Public Relations
(678) 799-8118