RateSheets.com for Lenders

As with the other sites in the network, here there is both an Administrative Section and a User Section. There are also features that are not yet available to the parties but are coming soon.

I.  Administrative Section Return to Index
Each lender has either a main administrator, branch administrators, or a main administrator and branch administrators that manage its information on RateSheets.com. The administrator has control over the following key features
Company Roster
The administrator can view its on-line Company Roster and send e-mails to the lender's users. The administrator can change the titles and departments of the employees of its on-line Company Roster that is viewed by its users.
Company News
The administrator can view office news, both past and present, which is posted by regional directors and by the administrator(s).
Rapid Search
RapidSearch is the Rate and Loan Program Module of the system. Among other things, allows an administrator to:
 
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  • create a record for a loan program it offers
     
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  • edit records
     
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  • view records
     
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  • copy records
     
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  • remove records
     
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  • save records to a database
     
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  • associate records with other records in a database
      Rapid Search also allows lender users and brokers:
     
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  • to select criteria from a menu of criteria
     
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  • search for loan programs matching the selected criteria
      The administrator through user interfaces can input its loan program details, including interest rates if desired, loan to values and corresponding pricing adjustments, which can then be viewed, edited and/or ported to the rate and loan program modules of the lender's own internal processing computer system, the lender's own wholesale website database, and the lenders consumer direct website database, as long as said web sites are connected to the IndustryAccess.com Network.

    If the lender's consumer direct web site is connected to the Rapid Search Rate and Loan Program Module, then the data input by the administrator may be modified dynamically before being viewable on the lender's consumer direct web sites so that the consumer interest rates reflect any added margin.

    The output of any search may result in a dynamically created rate sheet, which may be in the form of, for example, CFML, Microsoft ASP, HTML, XML, .pdf, or text. The Lender may choose not to input the interest rate that applies to a loan program so that the search based on loan criteria only results in the display of the available loan programs matching the search criteria, in which case the rate sheets can be uploaded by the administrator as described below in Upload A File.

    View Reports
    The administrator can find out how many times each approved broker has viewed its rate sheets on a Today's Total, Yesterday's Total, Last 7 Days' Total, and Last 30 Days' Total basis. In addition, the administrator can find out which brokers have not viewed its rate sheets on a Today's Total, Yesterday's Total, Last 7 Days' Total, and Last 30 Days' Total basis. The reports can be broken down on a company wide basis, branch basis, regional director basis, by account executive, by brokerage firm, and by individual broker.

    The administrator can find out how often each of its management, directors, and account executives have accessed the web site.

    View Web Page
    The approved brokers have access to the lenders' account executives' web pages (called "Lender Pages") The information provided on the Lender Pages is as follows:

     
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  • rate sheets, guidelines, and other forms
     
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  • contact information
     
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  • a link to lender's own web site
     
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  • scrolling message to brokers, which are updated by account executives, regional directors, or the administrator
     
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  • the lender's approved appraiser list and contact information
      Set Up
    The administrator can manage lender users and broker users access to the system, and can manage its approved appraisers' list.
      User Set Up
    The administrator can add or remove its users' access to RateSheets.com. In addition, the administrator can determine whether a given account executive or regional director can modify scrolling messages viewed by its approved brokers, and whether an account executive has different contact information on his/her own web page (called the "Lender Page").

    Broker Set Up
    The administrator can add, suspend, or remove the access that its approved brokers have to its information. In addition, the administrator can view its approved and suspended broker lists. The brokers are assigned to either a branch or to account executives to insure that the brokers view the correct rate sheets, loan program database, and contact information.

    Appraiser Set Up
    The administrator can add, suspend, or remove appraisers from the approved appraiser list that its approved brokers can view and submit appraisal requests to. In addition, the administrator can view its approved and suspended appraiser lists.

      Create Message
    The administrator can post office news for its own users to view when they log onto RateSheets.com. The office news is archived so that the administrator can view previous postings. In addition, the administrator can write a scrolling message viewed by its approved brokers. This scrolling message overwrites any scrolling messages that its account executives or regional directors have written for their brokers.

    Upload a File
    The administrator can upload a .pdf file of its most current ratesheets, matrices, broker demand form, registration form, submission form, rate lock form, lender guidelines, guideline update, or whatever other form that it wishes to be viewed by its approved brokers and own users. The administrator can also upload a .jpeg or .gif file of its company logo that will appear on its lender pages and when its own users log on.

    If a rate sheet is uploaded, the administrator can automatically send a rate notification e-mail to the brokers the rate change effects. If the rates increase, then the text of the date/time next to the rate sheet link on the Lender Pages will appear red; if the rates are down, then the text of the date/time next to the rate sheet link on the Lender Pages will appear green.

    Rate Notification
    The administrator can send a broadcast e-mail to all of its approved brokers any time indicating that there has been a rate increase or decrease. Brokers are then directed to RateSheets.com to get the updated rate sheet.

    Help
    On-line Help is available throughout the site and a downloadable help manual in Adobe Acrobat .pdf is available.

    II.    Lender User Section Return to Index
      Lender Users such as management, regional directors, and account executives have access to certain information on RateSheets.com.
      Company News
    Account executives can view office news posted both past and present by their regional directors and by the administrator. The regional directors can view office news posted by the administrator as well as their own messages posted both past and present.

    Company Roster
    Lender Users can view a roster of the names, titles, departments of the other employees in the company. In this section, the employee can send an e-mail without opening an e-mail program. E-mails are sent from the browser.

    Rapid Search
    Utility that enables account executives to find loan programs and to calculate pricing adjustments accurately. See Rapid Search in the Administrative Section above.

    View Reports and View Web Page
    Upper Management that log into RateSheets.com have access to the same reporting as the administrator. Regional directors and account executives that log into RateSheets.com have access to reporting that is limited to their brokers' activities.

    In addition, the account executives can view their own Lender Pages that their brokers have access to; the regional directors can view the Lender Pages of their account executives. Upper Management can view the Lender Pages of all account executives.

    Create Message
    Account executives can update scrolling messages for their brokers if given this authority from the administrator. Regional directors can update office news for their account executives, they can overwrite scrolling messages written by account executives for their Lender Pages.

    E-Mail Broker Account executives and regional directors can easily send e-mails to their approved brokers.

    Indices, Economic Calendar, and Stock Quotes Lender Users can see updated pricing on T-Bonds,T-Notes and other indices, get stock quotes from our on-line trading sponsor, and can view a monthly economic calendar.

    Market News
    Lender Users can read treasury stories that are updated throughout the day.

    Help
    On-line Help is available throughout the site and a downloadable help manual in Adobe Acrobat .pdf is available.

    III.  Additional Features Coming Soon Return to Index
      View Stats
    Automated and Risk Based Pricing Module
    Forms Submission Module
    File Status and Transaction Party Module
    Pipeline Module
    Integration with MortgagePools.com

    View Stats

      Rate Sheets Viewed
    The administrator can view statistics on how many minutes its approved brokers view its rate sheets. The statistics are broken down on the basis of a company total, the regional directors' totals, account executives' totals, and individual brokers' total. The administrator also sees how its company as a whole, its regional directors, its branches, and its account executives compare to other lenders using RateSheets.com. The statistics are a running total beginning the first day of the month and ending on the last day of the month. The administrator can also see the statistics for the previous month. Other Lender Users have similar viewing abilities.

    Rate Changes
    The administrator can view statistics on how many rate increase and decrease e-mail notifications were sent on a company-wide basis and for each rate sheet. The administrator also sees how its statistics compare to other lenders using RateSheets.com. The statistics are a running total beginning the first day of the month and ending on the last day of the month. The administrator can also see the statistics for the previous month. Other Lender Users have similar viewing abilities.

    Broker Activity
    The administrator can view statistics on how many of its approved brokers are not viewing its rate sheets but viewing other lenders' rate sheets that are on RateSheets.com. The statistics are broken down for the company, the regional directors, the branches, the account executives, the brokerage firm, and individual originators. The statistics are a running total beginning the first day of the month and ending on the last day of the month. The administrator can also see the statistics for the previous month. Other Lender Users have similar viewing abilities.

    Time of Day Rate Sheets Viewed (Graphical Display) The administrator can view a graphical representation of the hour of the day that rate sheets are viewed by its approved brokers. The statistics are a running total beginning the first day of the month and ending on the last day of the month. The administrator can also see the statistics for the previous month. Other Lender Users have similar viewing abilities.

    Automated and Risk Based Pricing Module
    Through an interface, which is tied to the database tables for the data and information submitted in the Rates and Loan Program Module of Rapid Search the administrator can establish the required data that must be accurately included in the loan application submitted by its brokers or borrowers. If the data included in the fields of the electronic loan application match the criteria established by the administrator, then an approval will be issued conditioned on submitting the required documents of the electronic loan file. The administrator, the appropriate lender user, and the broker are notified as to whether all or some of the submitted data match the criteria established in this module.

    The administrator will also establish risk based pricing criteria when establishing the automated underwriting criteria. Risk based pricing refers to an increase or decrease of the interest rate applied to a loan depending on the certain risk factors inherent in a loan application, including the applicant's credit rating, the loan to value of the loan, and debt to income ratios. Concurrently with the automated underwriting, this module will evaluate the risk factors inherent in the loan application and will calculate the lender's interest for the loan program. Depending upon the loan program selected from the Rapid Search Rate and Loan Program, and affected by the underwriting decision from the Automated Underwriting Module, the Risk Based Pricing Module will automatically output an interest rate applicable for the submitted loan application.

    The Automated Underwriting and Risk Based Pricing technologies work in complete conjunction with the Rapid Search Rate and Loan Program Module, which is 100% functional and tested. And as such, the Automated Underwriting and Risk Based Pricing Module will be available very shortly.

    Forms Submission Module
    Through an interface, the administrator can indicate the type of electronic form such as a loan application, rate lock form, submission form, broker demand form, it wishes to make available to its brokers on RateSheets.com, and to its brokers and borrowers on the lender's wholesale web site and consumer direct web site, respectively. The brokers can upload a digitally formatted document that was created in the broker third party loan origination software (which can be adapted for such well known third party loan origination software as Calyx, Byte, Contour, and Genesis), or in a spreadsheet format, which when uploaded fills in the fields of the on-line document, or can fill out the document through an interface such as HTML or XML, and port said document back into its third party loan origination software. The digital document is stored on the IndustryAccess.com servers, can be viewed, printed, and sent to the lender, who can then port the document into its internal processing system (which can be adapted for such third party internal processing systems such as Gallagher or Fiserv). The digital document can also be transmitted directly to a secondary market investor such as Fannie Mae and Freddie Mac, to be used by their automated underwriting systems. The stored documents on the IndustryAccess.com servers shall be saved in directories, which can be accessed by certain other participating parties in the network, and placed in a stacking order as part of the electronic loan file. The data of a document can be shared by the participating parties of the network by being saved in a format such as XML or text to be ported to each of the computer systems of the participating parties to avoid multiple entry of the redundant data.

    File Status and Transaction Party Module
    The administrator, and other lender users as determined by the administrator, can manage, and view the status of a list of the required documents for the approval of a loan application submitted by the broker on behalf the borrower, or if the lender's consumer direct website is connected to the network, then for applications submitted directly by the borrower. Such details include loan conditions that have or have not been satisfied by the borrower, including proof of income, appraisals of the property, proof of employment, title reports and insurance, escrow instructions. The Lender may reflect the updated checklist through RateSheets.com and FileStatus.com, the lender's own internal processing computer system, or the lender's own broker website database so that the data can be ported to each of the computer systems to avoid multiple entry of the redundant data. These details can be viewed by the broker through RateSheets.com, or by the broker'sprocessors through LoanProcessors.com, or by the borrower on the lender's consumer direct website, the broker's consume direct web site, or through LoanConditions.com.

    Through this Module, the administrator, and other lender users can also request, pay for (if necessary), and receive transaction party documents, such as loan applications, appraisals, credit reports, title insurance and reports, escrow instructions, loan documents, and any other documents required as a loan condition. The transaction party's digital documents, as well the loan application, rate lock form, and any other digital document submitted by a broker, is stored in a borrower's directory. The documents are ordered in a stacking order so that when viewed and printed conform to the order that said documents are normally ordered in the lender's hardcopy loan application file.

    Pipeline Module
    The administrator, lender users, and brokers can view and print reports on the loans that have been submitted to the lender through the network. Or if the customary loan application process is used and is monitored by the lender's own internal computer system, said reporting can be uploaded to the network to be available to the appropriate users. The content of pipeline reports includes, for example, loan amount per application, per Lender region, branch, director, account executive, brokerage firm, loan agent total loan volume, details of said loan applications, loan fall out, and delinquencies.

    Integration with MortgagePools.com

    Lenders: call Jack Misraje at 310-581-4945, Ext. 330 to inquire. Coming Second Quarter 2001.