iMort™ Lender: Rule Manager
Any robust decision technology in today’s marketplace uses complex rules to manage its programs and pricing structures. However, it is these very rules that make the management of program and pricing data extremely challenging for the average user. Under normal circumstances, a user who is unfamiliar with information ‘logic’ structures would be unable to build necessary program and pricing rules. For this reason alone, there are few decision engines and program management systems available to the small and mid-sized mortgage lending companies.
Mortrax uses 52 data elements in its rule building process. To date, more than 53,800 rules have been built using the Rule Manager and creating or modifying these rules takes seconds each. In order to ensure correct syntax, operators, and validations, Mortrax built the most comprehensive rule ‘builder’ available in today’s marketplace. It is now possible for a user to create a complex rule, consisting of many data elements (connected with ‘and’ / ‘or’ statements) without relying on the I.T. department for assistance. These rules are used in every part of the iMort™ Program Manager module, including guidelines, profit and pricing structures, SRP’s as well as prequalification items.
Most lenders depend on the ability to create program and pricing rules that are based upon specific origination channels … including Retail, Wholesale, and Correspondent. Achieving the correct profits and lending guidelines for each business unit is essential. Mortrax built the Rule Manager to enable lenders of all sizes to be able to accurately and efficiently control the differences that exist between one business unit and another. Regardless of the guidelines an Investor (‘Conduit’) offers, the Rule Manager can be used to overlay simple rules in order to ensure that your company is doing the type of lending which has been predetermined by your lending policies.
Join the quickly growing list of Mortrax customers, and you will witness an evolution in your business model. To learn more about the benefits of the iMort™ web-based technology and whether it is the best option for your origination process, contact a Relationship Manager at (305) 444-9010 or (888) 554-9010.
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