Mortgage Automator

Mortgage Automator is a loan origination and servicing software designed specifically for private lenders. According to the vendor, it aims to automate lending processes, streamline communication, and provide tools for documentation, compliance, and reporting. The software is suitable for private lenders of all sizes, from individual or small hard money lenders to in-house servicers and funds/REITs. It is widely used by private money lenders, asset-based lending institutions, hard money lenders, mortgage lenders, and real estate investment companies.

Key Features

Loan Origination Suite: According to the vendor, Mortgage Automator provides a loan origination suite to handle lending processes efficiently. Borrowers can request new loans or pre-approvals through a borrower portal or a loan application form. Loan Officers are automatically assigned and notified to review and issue LOIs/Term Sheets quickly.

Automated Loan Servicing: The software automates loan servicing tasks such as calculations, alerts, and payments. It offers various payment options including post-dated checks, check printing, auto-generated ACH/EFT, and credit card payments. Extensions can be managed with custom conditions, and partial paydowns are supported with automated distribution breakdowns.

Comprehensive Fund Features: Mortgage Automator enables the automation of distribution calculations and provides tools to manage investors effectively. It includes features for fixed/floating share/unit prices, multiple share classes, cash or accrual basis revenue recognition, subscription agreements, auto-generated share certificates, DRIP/reinvestment options, and automated statements.

Seamless Integrations: The software seamlessly integrates with various platforms to eliminate data entry/re-entry. It supports online loan application forms and document upload portals, allowing borrowers to easily provide necessary information. Appraisal requests can be emailed directly through the system, and title/attorney instructions can be sent with attached system-generated or uploaded documents.

Credit Reports Integration: Mortgage Automator offers a direct integration with CreditCo to pull credit reports for borrowers. This integration streamlines the loan origination process and ensures accurate and up-to-date credit information.

Trust Accounting Features: The software provides trust accounting features to manage borrower and investor statements effectively. It generates reports for issuing 1098s/1099s, tracks accrual A/R and A/P, and provides comprehensive cash flow analysis.

Flexible Loan Servicing: Mortgage Automator offers flexible loan servicing options to save time and prevent human errors. It supports payment collection through credit card processing, automated ACH payments, and estimated fees. Borrower payment schedules can be customized with different frequencies and interest adjustment options.

Customizable Loan Conditions: The software allows for standardized loan conditions and various interest types to accommodate different lending scenarios. It also offers customizable auto-generated documents and the ability to upload and reference additional documents.

Efficient Workflow Management: Mortgage Automator streamlines loan origination processes with efficient workflow management. It provides custom roles and permissions, employee performance tracking, and automated communication triggers. Users can utilize SMS/email templates, automatic document generation and attachment, and custom dashboards for effective communication and task management.

Streamlined Data Import: The software offers streamlined data import options, including borrower portals, lead intake forms, bulk upload, and manual data entry. This allows for easy data migration and digitization of loan origination processes.