New data distribution option streamlines MERS transaction management for Encompass, BytePro and most other LOS systems

WESTLAKE VILLAGE, CA May 21, 2019

A small change is making a big difference for Encompass, BytePro and other LOS users. The longest standing MERS transaction management system, eRAMP has added a new export function to make it much easier for LOS users to update dozens to thousands of loans in their systems in minutes with MERS transaction confirmation dates.

“Processing and updating one loan at a time is inefficient. Bulk processing is the way to gain maximum efficiency to reduce costs and errors when processing MERS loan transactions”, said Jeff Benoun National Sales Director for Cyberlink Software Solutions, Inc. developer of eRAMP for MERS. The new feature takes advantage of MERS data collected at time of loan registration and at transfer of rights so lenders can easily maintain MERS transaction status in their loan origination system in real time without manual data entry. Accurate records in the lender’s central point of data collection is important.

eRAMP’s new data distribution option expands the previous LendingQB full integration solution that has been available for many years. Now lenders have more options using eRAMP for MERS, with more LOS systems than ever before. To learn more about eRAMP MERS Transaction Management System or to request a demo please visit our eRAMP product page.

About Cyberlink Software Solutions

Cyberlink Software Solutions, Inc. is a software development company that’s been creating innovative applications for mortgage professionals since 1995. We offer in-house developed software products and consulting services, including LOS implementation project management, LOS optimization consulting and MERS process improvement solutions. For more information, please contact Greg Uttal at 800 518-0919 or visit https://www.oncyberlink.com

AI added to Customer Support Desk at Cyberlink Software Solutions

After a year in the making, we’re excited to announce the release of our new online Client Resource Center for eRAMP, MINGenerator, lending consulting partners and BNTouch Mortgage CRM clients.

Now more than ever before, Cyberlink’s clients have ways to answer their product and services questions 24/7 from any platform they choose; desktop, smartphones and tablets. Not only is the new support solution better looking, there is an expanded and improved knowledge base with context-aware search that is easy to use, faster to search and provides more accurate answers to our client’s questions. A well-organized customer support portal provides a more personal connection with our company, while empowering clients in a whole new way. New features include:

•   Tons of information with training videos, document downloads, extensive knowledge base and more
•   Expanded ticket details to improve knowledge base suggestions to resolve issues quicker
•   Enhanced ticket management with better status and email notification
•   Community information sharing for user-based answers to questions, and
•   Agent satisfaction ratings, to let us know how we’re doing

Serving a diverse group of real estate lenders like mortgage bankers, credit unions, banks and mortgage brokers requires a wide range of options. We now feel we have a tool that gives our customers and our support staff the access to information they need for the long run”, said Jeff Benoun, National Sales Director.

A feature we’re really excited about is the addition of Augmented Intelligence for our support staff. AI means less typing with better results so we can focus our attention on our clients and not our support desk software.

Every Cyberlink customer will receive an email invitation to start using our new client resource center starting April 1st. Or for more immediate access, clients can go to https://www.oncyberlink.com and select the Client Resource menu option to register.

We are happy to roll out this new advanced solution for our clients; we are always looking for ways to enhance our customer’s interaction and experience with our company!

For more information about Cyberlink’s support options, software products or consulting services for LendingQB, MeridianLink or BNTouch Mortgage CRM please send an email to info@oncyberlink.com.

The 80/20 Rule for Business Projects

At the beginning of a large project, the sheer size and scope of what’s ahead can be enough to give anyone nightmares. Where do I start? Who should I involve? Where is money best spent? How do I avoid wasting my time? These are all questions likely to enter your mind, sometimes all at once. This type of cognitive overload can cause you to make bad decisions. What’s the remedy to this problem? At Cyberlink, we believe in the 80/20 rule. To put it simply, the best path to a successful project involves 80 percent planning and 20 percent implementation.

If you’ve ever encountered the 80/20 rule before, you’re right to notice that our approach to the concept is a bit different. Traditionally, the 80/20 rule in businesses refers to the idea that 80 percent of problems come from 20 percent of causes. We recognize that it’s a minority of important issues that contribute most to project pitfalls which is why devoting a significant portion of your energy to planning is so crucial. While planning is not the same in every company, there are a few distinct phases to consider.

Pinpoint the Problem to Be Solved

All businesses face similar problems: not enough sales, lack of productivity, excessive costs, and high employee turnover. Unfortunately, these problems are too generic to be very useful in the planning process. What we really need to ask is “why?” Why are sales low; why can’t we meet the demands of our customers; why are we not make conversions? Answering these types of questions requires that you look beyond the surface symptoms and find the underlying causes. This is an area where getting as much input as possible is crucial. Often times, certain people get tunnel vision and lose perspective.

Let’s use a hypothetical mortgage lender as an example of how to pinpoint a problem. Company A began lending in the early 1980s and grew consistently year after year until the housing bubble in 2008. While many lenders have recovered since then, Company A has yet to match their previous success. Not only are there less borrowers, the borrowers they do work with complain about constant delays and miscommunication. After speaking with a few other professionals in the industry, an agent realized what was going on. While other lenders were adapting to the times with new tech, Company A had yet to fully take advantage of its existing LOS and available update. Management quickly discovered that a huge source of problems were being caused by using spreadsheets where they weren’t needed or incomplete implementation of some key software features.

Define Your Objectives

Knowing the exact problem your company faces makes creating project objectives a lot easier. In Company A’s example, our objective would be to find a way to fix the delays in the manual procedures, but how can they accomplish this goal? In this case, the company has several options. They can try to retrain employees on existing procedures, write brand new manual processes, or implement some type of technology that provides automation. Ultimately, they decide that implementing new loan origination software is likely to be the optimal solution. They will need to further define their objective by figuring out which LOS product best fits their goals. This will involve careful analysis of cost, features, support, and other technical details.

Identify Your Required Resources

With the problems and objectives now in focus, it’s time to figure out who and what will be needed to make change happen. Depending on the type of problem, the scope may be very expansive or strictly limited. There are four key areas where you can identify required resources:

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  • Funding – Owners, management, or investors will need to decide how much money to invest in the project. If the expectations of those in control of the money aren’t managed correctly, the project could be halted in its tracks. Here’s where it’s time to carefully research expenses like software licensing, consulting services, or new equipment.
  • Time – Many projects fail because the time required to finish is grossly underestimated. Rarely does every aspect of a project get completed without some kind of delay, so it’s important to be realistic about the time to complete your objectives.
  • Personnel – If the project requires additional manpower, figure out where it’s going to come from. It could be from contractors, new employees, or temp agency workers.
  • Space – New employees of consultants need a place to work, so you need to ensure you have the space for them. Contact the property owner to see if there is additional space to lease or make arrangements to rearrange the your existing office layout.

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The Build-Up Phase

You have a specific objective and realistic expectations about the resources required to accomplish it. Now comes the most intensive part of the planning process: actually assigning working and creating schedules. The build-up planning phase to the actual start of your project involves five distinct steps:

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  1. Assemble your team. This flows directly from the personnel aspect of resource identification. If your current staff lacks the skills required for certain tasks, now is the time to get them on board. This may mean hiring new employees or working with consultants.
  2. Plan assignments. Match your assembled team members with specific tasks that match their skill set. This requires detailed communication with each person.
  3. Create a schedule. If you’re lucky to have the freedom to create your own deadlines, schedule each assignment for a realistic amount of time that doesn’t put undue pressure on your team. If you have hard deadlines, work backwards from the due date to ensure personnel have enough time to complete their tasks.
  4. Host a kickoff meeting. Gather everyone involved in a project for a meeting to discuss assignments and schedule. Make sure everyone who has a question or concern is listened to and try to resolve any conflicts. The more open communication is encouraged during this phase, the more likely you are to avoid pitfalls.
  5. Develop a budget. Break down your estimated budget into categories like staff, training, travel, supplies, licensing fees, or any other parts you may need. Consult with someone who has financial experience to see if you missed anything. Remember, your final costs are likely to deviate from your estimates.

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Getting the Project Going

As you can see, the 80/20 rule requires that you put quite a bit of work into planning. The idea being that planning helps you establish realistic expectations for each aspect of your project, reducing the chance of surprises preventing success. Of course, even the most carefully planned projects have hiccups, but your team will have the ability to shift and refocus when they have a solid foundation beneath them.

FHFA Releases Maximum Conforming Loan Limits for 2019

Fannie Mae and Freddie Mac Baseline Limit Will Increase to $484,350

The Federal Housing Finance Agency (“FHFA”) has announced an increase for the conforming loan limits.  Maximum loan limits have increase each year for the past three years. The maximum loan limits will apply to conventional loans purchased by Fannie Mae and Freddie Mac in 2019.

According to FHFA’s seasonally adjusted, expanded-data HPI, house prices increased 6.9 percent, on average, between the third quarters of 2017 and 2018.  Therefore, the baseline maximum conforming loan limit in 2019 will increase by the same percentage. The 2019 maximum for conforming loan limits for one-unit properties will be $484,350 (increased from $453,100 in 2018).

High-cost area limits

For areas in which 115 percent of the local median home value exceeds the baseline conforming loan limit, the maximum loan limit will be higher than the baseline loan limit.  HERA establishes the maximum loan limit in those areas as a multiple of the area median home value, while setting a “ceiling” on that limit of 150 percent of the baseline loan limit.  Median home values generally increased in high-cost areas in 2018, driving up the maximum loan limits in many areas.  The new ceiling loan limit for one-unit properties in most high-cost areas will be $726,525 — or 150 percent of $484,350.

To read the full FHFA announcement click this link. 

New eRAMP Enhancement in LendingQB Allows Lenders to Bulk Register Loans into MERS

New eRAMP Enhancement eliminates the need to register loans one by one into MERS, granting tremendous time savings.

COSTA MESA, Calif. (PRWEB) October 23, 2018

LendingQB, a provider of lean lending loan origination technology solutions, and Cyberlink Software Solutions, a provider of optimization and development solutions for mortgage lenders, have enhanced the eRAMP bulk loan integration with MERS to drastically reduce the time spent registering and transferring rights of loans.

This enhancement allows for bulk MERS transaction processing for all transaction types and instant loan registration and confirmation in one session. By eliminating the need to register loans one by one to MERS, lenders gain tremendous time savings and eliminate errors. In addition to loan registration, confirmation dates for all registered loans along with all three types of transfers of rights will then automatically populate back into LendingQB’s MERS status dates. An optional confirmation report is available to upload into lendingQB’s eDocs.

“It doesn’t matter if these bulk transfers are as few as one loan or thousands of loans,” said David Colwell, vice president of strategy at LendingQB. “Not only does it save lenders time, this automation absolutely removes the possibility of human error in the process, ensuring that lenders can hit their deadlines with no issue.”

“With all the eRAMP versions released since 2003, we are always most excited when we bring new features with immense automation and time savings to our clients,” said Greg Uttal, president of Cyberlink Software Solutions. “Our technology goal is always more business and less work for our clients. With our integration to LendingQB, that’s mission accomplished.”

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About LendingQB

LendingQB is a provider of Lean Lending solutions for residential mortgage banking organizations. The Lean Lending solution consists of a 100 percent web browser-based, end-to-end loan origination system, best of breed integrations with key industry partners and ‘adoptimization’ services that result in faster cycle times and lower costs per loan. For more information, please call 888.285.3912 or visit http://www.lendingqb.com

About Cyberlink Software Solutions

Cyberlink Software Solutions, Inc. is a software development company that’s been creating innovative applications for mortgage professionals since 1995. We offer in-house developed software products and consulting services, including LOS implementation project management, LOS optimization consulting and MERS process improvement solutions. For more information, please call 800 518-0919 or visit https://www.oncyberlink.com

Original Post available from PRWeb: https://www.prweb.com/releases/new_eramp_enhancement_in_lendingqb_allows_lenders_to_bulk_register_loans_into_mers/prweb15844301.htm

Lenders Don’t Get Left Behind!

Lenders Don’t Get Left Behind!

According to the 2018 American Bankers Association State of Digital Lending Study, the majority of banks’ lending processes-including online application, on boarding, processing, underwriting and funding have yet to be overhauled through technology.

Technology plays a critical role in the current competitive, fast paced environment to not only provide exceptional service but also to remain profitable.  Lenders who fail to take steps to optimize their lending practices will get left behind!

Steps to Optimize Your Loan Origination Practices

♦  Integrate data
♦  Eliminate Paper
♦  Analyze Performance

Integrate data – Cloud based point of sales systems like PreApp1003 and loan origination systems like LendingQB and MeridianLink offer integration to various data sources.  This data, when combined with business rules can eliminate manual steps and provide an improved view of your borrower’s creditworthiness, as well as increased speed and accuracy in decisioning. A great POS system improves loan officer effectiveness and creates a data collection point that starts with the applicant.

Eliminate Paper – and eliminate the cost of copying and sending documents.  Digital documents are sent and received in minutes rather than days and are secure and accessible online by both the lender and the applicant.

Analyze Performance – Most LOS systems provide reports that can be created and customized to your specific business needs to reflect production, trends, historical data, bottlenecks and staff performance. The review of these reports will result in identifying unprofitable loan programs and/or processes.

These are a few ideas to optimize your lending operation.  Contact Cyberlink Software Solutions, Inc to discuss these ideas and more!