Loan Producer® is a user-friendly, complete end-to-end loan origination system that automates the residential loan origination process from loan application through processing, underwriting, closing, funding and secondary marketing.

 

Additional Functionality:

LPOnline
 
Xcluso
 
Loan Accountant
 
Rules OnDemand

Review the features below to learn how Loan Producer® can benefit your company. For more information about our loan origination software or to schedule a free demo, call 972.458.8583 or email Info@FICS.com or request a brochure.

 

Flexible Payment Processing

Better Together

LPOnline® and Xcluso®, FICS’ optional web applications, optimize the loan application process by facilitating communication between loan officers and borrowers via mobile-friendly online portals. With Loan Producer®, Xcluso® and LPOnline® working together, information flows easily and accurately between loan originators and borrowers. Xcluso® and LPOnline® work seamlessly with Loan Producer® to improve efficiency and provide better customer service to your borrowers. Communication between these systems allows you to share loan plans, credit information, status updates, documents and other loan application data with Loan Producer®.

Loan Producer Connection

 

Compliance

Compliance

Loan Producer® is in compliance with applicable regulatory requirements, and downloadable software releases promptly address any changes. This ensures that you will never be left behind when new regulatory changes are implemented. The optional Rules OnDemand® can be used to conduct simple to complex compliance checks.

HMDA. HMDA regulatory disclosure requirements are built into Loan Producer®. To eliminate the re-keying of data, the application information is extracted directly from the system into the HMDA file. Create a HMDA Loan Application Register on demand for any period you desire. Create the HMDA data file that is submitted electronically to the CFPB. You can create this file for a specific quarter or date range and by HMDA lender. These options allow you to proactively manage your HMDA reporting throughout the year. Import current Average Prime Offer Rates, and the system will automatically calculate the rate spreads for each applicable loan.

QuestSoft® Instant Geocoder. QuestSoft’s Instant Geocoder is integrated into the system for automated geocoding and address verification. This includes the automatic population and verification of census tract, county code, MSA code, and state code information for the subject property. (Additional fee applies from QuestSoft®.)

High-Cost Mortgage Fees / Section 32 Mortgage Fees. Closing fees associated with high-cost mortgages or HOEPA loans can be classified as Section 32 fees payable by the consumer as defined under Regulation Z, Section 226.32. Known as high-cost mortgages or Section 32 mortgages, an additional disclosure is required due to a high APR rate. To help with this process, FICS® created a dynamic document, the Section 32 Worksheet, which can be generated on demand.

Mortgage Electronic Registration Systems, Inc. (MERS®). MERS® is a national electronic registry for tracking the ownership and changes of mortgage rights. The built-in MERS® interface allows you to generate the Mortgage Identification Number (MIN), MERS® Registration File, MERS® Registration Detail Recap Report, and MERS® Registration Detail Exception Report. The MERS® Registration File is used for transferring loan data to MERS®.

QuestSoft® Compliance Eagle®. Use Compliance EAGLE®, an end-to-end, fully automated compliance review solution, to check regulatory red flags prior to funding. Quick and efficient, this optional interface reduces costs by alerting you to errors and possible fraud before these become compliance risks.


 

Origination

Origination

Multiple user-friendly calculators (including fixed interest rate, mortgage comparison and affordability analysis calculators) help you find the best products and rates for your applicants. The optional Rules OnDemand® business logic module and the built in Automated Business Engine (ABE) enhance loan application workflow and compliance as well as determine loan eligibility and product selection.

Loan Application Tool. Loan Producer’s intuitive, fast, one-window loan application is easy for loan officers to navigate. All the information required for initial disclosures is displayed on one page. The loan application tool is an easy place for processors and underwriters as well as loan officers to quickly review loan data.

Interest rate lock. Locking loans is as simple as entering a lock date using the Dates quick link. Loan Status Triggers update the Loan Status, automatically moving the loan through the pipeline.

Loan Product Selection and Loan Eligibility. The optional Rules OnDemand® business logic module allows for automated loan product selection and loan eligibility. Create your own customized qualification and eligibility rules for both internal lending requirements and for your investors. Qualify both borrowers and properties based on your own customized underwriting standards. Unique set of eligibility rules can also be created for either private investors or GSEs.

Flexible, Powerful Loans. Loan Producer® has the flexibility to support virtually any mortgage loan product on the market. Flexible user-defined loan product plans store the necessary default and qualification parameters. Interest rates can be stored and updated in all loan plans on a batch level. Loan officers simply choose which loan plan the applicant desires. The system then populates the default product information and closing costs, increasing accuracy. Loan Producer® seamlessly handles the loan application from point of sale to funding. Loan originators love being able to originate loans so quickly. Loan processors receive a high-quality loan file ready for processing. Underwriters appreciate knowing the applicant qualifies for a particular loan product. Closers enjoy having the closing costs and appropriate documents ready for their review.

Loan Notes. Store the applicants' story and loan notes to share with your processors, underwriters, funders and closers in the memo tool. Email borrowers and staff employees from within the loan notes.

Loan Producer Connection

 

Processing

Processing

Loan Producer® has many tools and interfaces that automate loan processing. The Document Services Interface allows you to use any Mortgage Industry Standards Maintenance Organization (MISMO®)-compliant document service provider. Loan Producer's user-friendly document design tool lets you create custom documents. Standard MISMO® interfaces make it easy to order fulfillment services--credit, appraisal, flood, mortgage and title insurance, surveys and documents--seamlessly online and from any MISMO®-compliant service provider. Data is updated in the database and system documents are stored electronically in FICS' imaging system, Radstar®.

Loan Validation, Missing Items. Implementing Rules OnDemand®, processors can simply run your completed loan application through your loan validation rule set to identify any missing items and confirm the application meets your quality standards.

Ordering Fulfillment Services. Loan Producer® provides for the electronic ordering of your fulfillment services utilizing standard MISMO® interfaces. Ordering credit, appraisal, flood, mortgage insurance, title insurance, surveys, documents, and other services is simply the click of a button. Results are automatically populated into the loan, and the documents are automatically stored electronically with the loan in Radstar®. If you elected to share individual documents with your applicants, they can see them immediately through LPOnline®. Your mortgage originators can also view them within Xcluso®.

Document Services Interface. FICS’ Document Services Interface enables you to order loan documents from any MISMO®-compliant document service provider. Depending on the document service vendor, additional services may include ordering individual documents, document packages, compliance services, electronic disclosures, electronic signatures and electronic delivery.

Reviewing Loans. Processors can easily review and/or update this and other loan information: loan terms, fees and dates; borrower information (including credit scores and reports); appraisals and property details. Keep track of seller information, tax and insurance details including disbursement schedules, title documents and flood determination.

Default Parameters. Loan Producer® stores Loan Plans, Closing Cost Plans, Tax and Insurance Plans, and Mortgage Insurance Plans. Simply set up the default parameters during implementation and enjoy the automation of the data populating into the loan.

Status Letters and Updates. Keep your borrowers apprised of the status of their loan applications. Status letters can be generated to send to the applicant, or if you use LPOnline®, a 24/7 status update will be available online for borrowers to view at their convenience.

Processing Documents. Processing documents can be generated by using Wolters Kluwer Financial Services’ Mortgage Solutions (VMP®) or by using the MISMO® Document Services interface vendor of your choice. If using WKFS’ static documents, the processing documents can be produced either individually or in a bundle. Bundles can be user-defined and automatically generated based on a particular loan application you are working on. When using the MISMO® Document Services interface, select the appropriate package (varies by vendor) and click a button to produce the documents.

Whose Loan Is It? Loans can be assigned to specific loan originators, processors, underwriters and closers, then easily retrieved in the individual's pipeline using the My Work List real-time review tool.


 

Reporting

Tracking/Reporting

Loan Producer's unlimited user-defined status codes let you control workflow and track your loans as they progress from a prospect to post-closing. My Work List is a customizable real-time pipeline tracking tool that makes it easy for processors, underwriters, and closers to work on their assigned loans. Loan processors and managers can use built-in tracking reports or create custom reports with the very powerful SAP® Crystal Reports® Report Writer.

Tracking windows. When documents are created or a fulfillment item is ordered, Loan Producer® automatically updates the date created and date received on tracking windows to give your employees up-to-the-minute status of the loan. This information is then shared with the loan officer via Xcluso® and the borrower via LPOnline®. In addition to populating the dates, the system allows you to attach documentation directly to the tracking item so it’s easy to review items from the tracking window. Loan officers can attach items to a tracking item via Xcluso®, and borrowers can attach requested supporting documents via LPOnline®.

Tracking Reports. Numerous built-in tracking reports provide updated snapshots of exactly what is happening in the pipeline. Reports (pipeline, pre-closing tracking, post-closing tracking, loan registration, borrower and investor-locked loan by lock-in and lock expiration date, investor commitment and production) provide updated information for the employee as well as management. And since all the reports are automatically imaged and stored in Radstar®, you can go back to see previous tracking reports at any given time.

Verifications Tracking. The verifications windows can be accessed to see the results of all the verifications sent out, when they were received and if they are still pending. Track the date sent, re-sent, received and expiration dates for all verifications of assets, employment, liabilities and property.

Loan Dates. Loan Producer® comes with a very helpful Dates window showing important dates on the loan giving users quick access to the history of the loan throughout the pipeline: from application and loan import dates, to lock-in, to document expiration, to appraisal, estimated closing date, cleared for and actual closing dates, funding date, rescission and more dates. Loan Dates can also be viewed by loan officers in Xcluso® and applicants in LPOnline®.

Post Closing Tracking. Loan Producer® allows you to track recording information and tax information along with all your post-closing documents. Track the location of the document, date ordered, follow-up date, date received and date shipped.


 

Underwriting

Underwriting

Loan Producer® provides a very convenient way to view all the information and parameters needed to make a qualified decision for all loans. Fannie Mae's Desktop Underwriter® and/or Freddie Mac's Loan Product Advisor® offer automated underwriting decisions for approved Fannie Mae® and/or Freddie Mac® Seller/Servicers. Depending on the loan disposition, the appropriate approval or denial letter along with the credit score notice to send to the borrower can be generated.

Automated Underwriting Engine Interfaces. Loan Producer® has tightly integrated interfaces with both Fannie Mae’s Desktop Underwriter® and Freddie Mac’s Loan Product Advisor®. These interfaces make it simple to quickly obtain AUS recommendations and view the corresponding findings with a single click.

Points and fees worksheets. Loan Producer® allows for the easy calculation of points and fees to help determine QM/ATR or HOEPA status. The worksheets can have defaults set up in Loan Producer® Administrator to ensure consistency and accuracy. Whether it is needed to determine QM/ATR or HOEPA, rest assured that compliance for the corresponding regulation will be met.

Uniform Underwriting & Transmittal Summary. For your conventional loans, Loan Producer® offers a convenient view of the information and parameters an underwriter needs to make a qualified decision. If denying the loan, a Denial Reasons window lets you check off the reasons for denial.

FHA Loans. For your FHA loans, Loan Producer® offers a convenient way to collect the required information for:

  • FHA Loan Underwriting and Transmittal Summary
  • FHA Direct Endorsement Conditional Commitment

203(k) and Streamlined(k) Maximum Mortgage Worksheet. If originating 203(k) and streamlined(k) loans, you have the information needed to quickly and efficiently calculate the maximum mortgage allowed for either a purchase or a refinance. Input your property information and all rehabilitation and other allowable costs and let the system calculate the loan’s maximum mortgage amount with up front mortgage insurance premium.

VA Loan Analysis. Underwrite your VA loans using the convenient VA Loan Analysis view showing everything you need including borrower information, shelter expenses, debts and obligations, income and deductions, and all applicable ratios. Modify income or debts, if necessary, before the final application decision.

Approval and Closing Conditions. Pre-defined condition templates can be created in Loan Producer® Administrator. Maintain a list of outstanding approval conditions before the loan heads to closing. Conditions are date and user stamped, so you can see exactly who applied the conditions and when. When a condition is satisfied, such as an outstanding appraisal being received, the condition is user and date stamped as being satisfied. Conditions can also be classified as a closing condition, so your closers can ensure that the loan passed all requirements before scheduling the closing.

Automated Underwriting Conditions. Create your own automated underwriting conditions in the optional, user-friendly, yet powerful, business rules engine Rules OnDemand® module. Define the criteria the loan must meet before it can be approved. Making loan decisions has never been easier knowing that the loans have been through your detailed qualification requirements.

Approval / Denial Letter, Credit Score Notice. Depending on the loan disposition, Loan Producer® creates the appropriate approval or denial letter along with the credit score notice to be sent to the borrower.


 

Closing

Closing & Funding

Loan Producer® provides one location to review the loan and check it for compliance before closing. Use FICS® Document Services Interface to order closing documents through a MISMO® -compliant document services vendor. Store closing documents electronically in Radstar® and allow your borrower to review them securely online through LPOnline®. The Loan Funding window lets you enter information about the funding of the loan, transfer the loan to FICS' Mortgage Servicer® system and generate the funding check.

Closing Information. Loan Producer® provides one location to review the information you need and allows for closers to review the important information required for closing. The closer's view of the loan include the following: settlement agent, closing agent, escrow information, title policy, closing location, trustees, attorneys, other collateral owners, closing conditions previously created during underwriting, and if applicable, FHA and VA loan summary information. Input closing comments to be included with closing instructions to in-house counsel, attorneys or title companies to make sure the closing goes off without a hitch. Closing documents can be ordered using the Document Services Interface.

Qualify the Loan Before Closing. To ensure compliance and check on missing items, ABE can run the loan through your user-defined business rules using the optional Rules OnDemand® module. This process can be automated when the loan is assigned to a closer helping the process be timely, accurate and increase productivity.

Funding. The Loan Funding window allows you to review and enter information about the funding of the loan. If you retain the servicing and use FICS’ comprehensive Mortgage Servicer® software, transfer the loan to that system with a single click. The final set of loan documents stored in Radstar® will also transfer to Mortgage Servicer®.

Post Closing Tracking. Track recording information and tax information along with all your post-closing documents. Track the location of the document, date ordered, follow-up date, date received, and date shipped, so you can follow up with your closing agents and title companies if necessary.


 

Closing

Secondary Marketing

Loan Producer® creates the standard MISMO® loan delivery files for Fannie Mae® and Freddie Mac®. Numerous secondary marketing tracking tools and reports make selling your loans a breeze.

 

Flexible Payment Processing

Additional Tools

  • Report Writer
  • Document Solutions
  • VMP®
  • Document Services Interface

 

Report Writer - SAP® Crystal Reports®. Loan Producer® comes bundled with a wide array of flexible reports as well as a state-of-the-art report writer. Incorporating the comprehensive and widely used SAP® Crystal Reports® Report Writer allows you to create any report you desire. Create simple queries or reports with mathematical equations and calculated columns. Output reports to a variety of file formats, graphs, or even HTML to attach to your website or intranet. SAP® BusinessObjects™ Business Intelligence (BI) Platform makes distribution of your generated reports a snap.

Document Solutions. FICS® provides two solutions for creating loan documents: Wolters Kluwer Financial Services’ Mortgage Solutions (VMP®) and FICS’ MISMO® Document Services Interface.

VMP®. FICS’ document bundle system allows for quick, easy document creation. Customize your bundles (e.g., processing, verifications, underwriting, closing and secondary marketing) and then create logic conditions to determine whether documents should be included in the bundle when it’s printed. With a single click, you can create an entire set of documents and be confident that the appropriate documents are included.

Document Services Interface. FICS’ Document Services Interface enables you to order loan documents from any Mortgage Industry Standards and Maintenance Organization (MISMO®)-compliant document service provider. Depending on the document service vendor, additional services may include ordering individual documents, document packages, compliance services, electronic disclosures, electronic signatures and electronic delivery.


 

Flexible Payment Processing

Innovative Features

  • Memos
  • Radstar®
  • Advanced Secuity Features
  • User-Defined Fields and Windows
  • MISMO® Interfaces

Memos. The bulit-in memo feature provides a storage facility for all your important notes, conversation logs, reminders, and follow-up activities. Memos are date, time, and user stamped when created or updated. Memos can be sent to other users to read either today or at a future designated date. Increase collaborations and knowledge-sharing among employees. Categorize memos for easy retrieval and review. You can also use Memos to send customer emails and updates. Memos can connect Loan Producer® to Xcluso® and LPOnline®, creating seamless communication between the three systems.

Radstar® is an integrated document and report management system that saves time, space and money by electronically imaging and storing all system-generated reports and documents. You can also store external documents, such as appraisals, financial statements, inspection results, as well as tax and insurance bills, for easy and convenient retrieval. With a wide selection of search criteria, retrieval of your documents and statements is an easy task from within Mortgage Servicer®. You can easily access loan level documents and notices that have been saved to Radstar®. Improve customer service by giving your borrowers online access to electronically stored documents and statements via eStatus Connect®.

Advanced Security Features. The security administrator has the ability to customize security to match your organization’s needs. Control and customize security levels by providing access rights as responsibilities dictate. Limit users’ access to functions or loans. A user’s access rights to a particular loan can be controlled to be read-only once a loan reaches a user-defined Loan Status. Set up password constraints to match your company’s security policies. A complete audit trail for permanent record of change is also maintained in the system. Built-in security reports let you easily monitor users’ access to the system.

User-Defined Fields and Windows. The Loan Producer® database comes loaded with thousands of predefined fields. Every lender is different and might require unique sets of information to track. Tools allow customers to create unlimited user-defined fields, display them on customized windows and reports, and include them on documents.

MISMO® Interfaces. Standard MISMO® interfaces make it easy to order fulfillment services - credit, appraisal, flood, mortgage and title insurance, surveys and documents - seamlessly online and from any MISMO®-compliant service provider. A built-in credit interface makes it quick and easy to order credit reports from any MISMO®-compliant service provider. Credit scores and liabilities are directly imported into Loan Producer®, eliminating the need for data entry and thereby increasing loan application accuracy.


 

 

Loan Producer® Customer Testimonial
Hear what one of our customers has to say about the great features in Loan Producer®.

 

What Our Customers Are Saying About Loan Producer®

“I really love Loan Producer®. It’s very user friendly. That part can’t be over-stated. FICS® through the years has really helped us.”

Chief Financial Officer at a Mortgage Company,
FICS® Customer Since 1986

“In the 20+ years we’ve been using FICS’ software for origination, processing, underwriting, and servicing, we’ve valued the easy flow and good connectivity between Loan Producer® and Mortgage Servicer®. The customer service we receive from FICS® is absolutely the best, and any questions we have get answered immediately. We appreciate all the training and help that FICS® makes available, and the annual FICS® conference is invaluable!”

Mortgage Operations Manager of a Credit Union,
FICS® Customer Since 1993

 

LPOnline

LPOnline® is a mobile-responsive web application that gives borrowers the convenience to easily apply for a mortgage, receive disclosures, and obtain status updates regarding their loan application—all online 24/7.

Read More
Xcluso

Xcluso® is a mobile-responsive web application for loan officers/originators that allows loan originators to easily track and manage prospects, input information into an URLA, order credit, convert prospects into borrowers and order initial disclosures from your chosen MISMO® document services provider—all online 24/7.

Read More
Loan Accountant

Loan Accountant® provides automated accounting for the transfer of funds for individual closing cost line items/fee types between clearing accounts and appropriate company accounts, including general ledger accounts.

Read More
Real Time Access

Rules OnDemand® automates your loan application workflow and enhances compliance by automatically updating loan information with specified rules and providing automatic loan data validation and status updates.

Read More
 

Ready To Schedule A FREE Demo?

Call or Email us today!

972.458.8583
info@FICS.com