TrueClose Offers New Customer Relationship Module

Loan processing is typically a time-consuming, tedious process that involves a large amount of paper pushing. TrueClose here hopes to change that with version 1.6, as processors no longer have to manage physical paper files, given that the solution is Web-based.

Specifically, processors create customized templates within the LOS to track orders, delivering the control and visibility necessary for the processor to manage daily tasks. Also, with version 1.6 there is now a checklist embedded into the LOS.

"Because processors are big stakeholders in the system, the logic built into the system allows them to manage daily tasks," said Michael Blair, founder and CEO of TrueClose. "It gives the administrator visibility as well via a checklist. Processors can create their own customized template to track orders.

"We just completed and are releasing this embedded processing module to allow them to manage underwriting and have integrated workflow. After the loan is approved it goes into a processing stage and loan officers are doing manual checking and stacking. With this module you can get all the stips from Fannie and parse that throughout processing.

"In the end, that will be a competitive advantage and something that you're not going to get in Calyx," he said. "It gives people more control over the process. We continue to focus on going paperless because I believe in the e-mortgage. We have embedded an integrated faxing module because in order to make this successful you have documents coming from the borrower so you need a way to make that electronic. The processing module takes that a step further because it's all integrated."

Also, TrueClose embeds customer relationship management functionality into the LOS. "The most important part of a mortgage company's work is prospecting," explained Mr. Blair. "The loan officer in particular is spending 80% of their time prospecting. In order to make a tool to help them, it only makes sense to have CRM built into the LOS. At the beginning of the process CRM is a must-have.

"What you get with Calyx is something that can build the pre-disclosure forms, but we wanted to start from the beginning and get into CRM. When you talk about CRM you talk about letters, mailings and follow-ups, but there isn't a tool like that in Calyx. We want to give the broker that in addition to a management tool to help them oversee the process as well.

"When I first got into the mortgage industry, there weren't any tools to help you manage your leads," Mr. Blair noted. "For example, these people are calling 20 people a day, but how do you manage that? How do you keep up? Some people write it on a note and have a catalog, but with the technology today it's important that they have one solution to manage everything in one place."

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