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Efficient Accounting for Mortgage Bankers

 

Loan Vision is one of the most efficient, feature rich mortgage loan level accounting solutions available today.  Built in close collaboration with one of the fastest growing mortgage banks in the USA, Loan Vision is truly the next generation of accounting solutions for the mortgage banking industry.

 

The Loan Card 

 

The Loan card serves as the data warehouse for all loan related information for each specific loan, and is a key feature of the Loan Vision mortgage accounting system.  As well as holding information particular to an origination such as branch code and loan officer, as well as a full escrow breakdown, data is broken into areas such as:

 

•             Borrower information

•             Funding/sale Information

•             Loan Purchase investor

•             Interim Servicing

•             1098 reporting

•             Pricing and Margins

 

From the loan card a user can see every transaction made for a specific loan, system wide.

In the complex world of accounting for mortgage bankers, risk reduction is as important as workload reduction.  With Loan Visions 1098 management tool, all 1098 data is warehoused in the Loan Vision system allowing for ease of tracking and regulatory filling. 

 

Import Schema 

 

The import Schema allows users to design custom imports for loan information from the Loan Origination System (LOS).  Here, users can pick each field they wish to import and validate against customer and vendor files for title companies and investors.  Supporting imports from multiple LOS systems, Loan Vision allows you to integrate new acquisitions with ease.

 

Loan Funded Processing

 

From this area users can either manually or automatically import loan data from the LOS system.  Once data validation has been carried out, new loan cards and invoices are created at the touch of a button, processing thousands of loans in a matter of seconds.

 

Loan Purchased Processing

 

This area allows the loan purchase information to be validated and processed.  An easy way of processing large amounts of data in seconds, again automatically creating detailed loan purchase invoices as per the investor specifications.

 

Integrated Payables and Receivables 

 

Loan Vision offers the complete suite of capabilities that you would expect from an extensive financial management solution, including general and recurring journals, cash management, vendor management and accounts payable & receivable. With its fully integrated accounts payable functionality, Loan Vision allows the customer to leverage tools such as approval workflows, purchase order management and document management all within one key business system.  

 

Document Management 

 

Reducing paper in the lending process is a key challenge facing the mortgage industry today. Out of the box document storage capabilities allows Loan Vison users to attach crucial documents to any number of areas of the system, helping reduce costs, create efficiencies and cut down on physical storage needs. 

 

Financial Reporting 

 

The ability to produce timely detailed financial reports is key in today’s data dependent business environment. Loan Vision offers the functionality to easily create custom financial reports with multiple column and row layouts with full drill down capabilities. Have multiple companies and consolidated financial reporting? Loan Vision handles that too.

 

Dimensions

 

Slicing and dicing of data is made easy in the Loan Vision platform using Dimensions. Tagging each loan related transaction with the loan number, plus other pertinent criteria such as Business Unit, Branch, Loan Officer, or Product Type to name just a few allow for a truly unique insight into an organizations financial activates driving unmatched decision making capabilities.

 

Jet Excel Reporting

 

To be a truly efficient mortgage loan accounting platform, the ability to produce accurate, easy to run, customizable reports is essential.  With an Excel reporting tool fully integrated into the Loan Vision database, user can pull ad hoc reports quickly and efficiently, and spend more time using the data than they do acquiring it.

 

Loan Profitability 

 

Loan Vision offers the ability to pull a loan profit and loss at the touch of button. 

 

Loan & G/L Reconciliation

 

The reconciling of both loan and trust accounts is often a very time consuming process, especially for those using legacy or non-industry specific accounting platforms; commonly involving the comparison of large and cumbersome pdf's or spreadsheets of data. Loan Vision offers unique tools which drastically help shorten the time taken for such tasks, often reducing the process to a matter of minutes as opposed to hours or days.  

 

Branch Role Center 

 

Loan Vision's branch Role Center allows information to be shared with branch managers in an easy to understand, captivating manner, allowing non-financial workers to quickly disseminate data specific to their operation. In addition to key metric reporting, additional functionality of the Branch Role Center includes the ability to drill down to source documentation, input expense and easily query branch charges, all designed to ease the workload of the central accounting office.

 

Commissions Calcuations 

 

Containing functionality to meet even the most complex of bonus structures, Loan Visions offers an extremely flexable, fully integrated commissions module designed to transition mortgage banks from a third party tool or in many cases an Excel spreadsheet.

 

Interim Servicing 

 

This area allows mortgage banks to efficiently service the loans between the loan being funded and the loan being purchased, handling all payment types from straight payments to principle reduction and escrow increase payments. Payment requests and statements are run from Loan Vision’s servicing area with the loan number being key to every transaction made.

 

1098 Management:


In the complex world of accounting for mortgage bankers, risk reduction is as important as workload reduction.  With Loan Visions 1098 management tool, all 1098 data is warehoused in the Loan Vision system allowing for ease of tracking and regulatory filling. 

 

Fixed Assets 

 

With fully integrated Fixed Assets functionality mortgage banks can once again reduce their reliance on multiple business systems or manual spreadsheets, housing all of their financial data in one extensive financial management tool.  

 

Budget, Forecast, Plan & Analyze  

 

Featuring the abiltiy to ceate, export and import budget packs, Loan Vision brings one of a kind, extensive financial management capabilities to the mortgage banking industry. 

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Testimonials
To grow we needed an enterprise platform with all the facilities, in order to move and keep information that is acceptable from a GAAP and a controller position... Loan Vision meets that need
Oystein Konsmo, Chief Financial Officer, NOVA® Homes Loans
"With Loan Vision, we could get our financial package – budgeting and planning, accounts payable, accounts receivable, and fixed assets – all in one system. This was huge. It would make it so much easier to drill down to the data level"                      
 
Julie Nelson, SVP Controller, United Shore Financial Services, LLC
“We knew if we got the right mortgage accounting system there would be a huge cost savings with automation. The difference is night and day compared to what we were doing before Loan Vision. Think about being able to import hundreds of loans as quick as we’d manually enter one.”
 
Michael McGowan, Chief Financial Officer, The Money Source