As more mortgage brokers look to banking as a way to increase profits, loan origination software provider Mortgage Builder Software Inc. this week introduced a new broker-specific pricing package for brokers making the transition into banking.
The company offers an application service provider (ASP) product and an in-house, transaction-based product. The ASP model eliminates the upfront software costs associated with implementing a comprehensive system and provides brokers with access to the Mortgage Builder LOS and central server via the Internet.
The ASP model also allows users to outsource hardware requirements, technical support and disaster recovery. The in-house, transaction-based solution allows brokers to load the Mortgage Builder system directly onto their computers and pay for its use based on the number of loans closed.
“Pending RESPA reforms, opportunities in the secondary market, more control over income and better pricing options are all factors driving mortgage brokers to make the leap to a more robust banking system,” said Keven Smith, president of Mortgage Builder Software.
Broker systems typically take a loan from origination through processing. Bankers’ systems go beyond processing to include closing, post-closing and secondary marketing functions.
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