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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Origination Technology
Origination Technology: Is The Future Web-based?
There have been many changes in origination technology over the past decade, spurred
by advances in technology in general. Computing in the business has moved from being main-framed-based to being
laptop-computer-based.
But even as originators are able to take their technology to the customer, rather
than the customer having to come to the technology, most applications have remained housed on the local computer.
But helped by widespread growth in the use of high-speed Internet connections,
many providers are developing Web-based versions of their programs. Among the more well known of these is Ellie
Mae's Encompass Anywhere.
In this Special Report, read about how Byte Software is working on a version of
its new BytePro program that will be Web-hosted.
The executives from Byte commented that the changes in the program were user-driven.
For example, the newest version has the ability for originators to put piggyback second mortgages into the same
origination file as the first mortgage. For those unfamiliar with the product, the piggyback second allows the
borrower to avoid having to get mortgage insurance.
In the debate between Web technology and client-server technology, read about
how Microst has created a happy medium with its SMART Client technology.
Meanwhile, one lender, Wholesale Lending Online is in the process of creating
its own loan origination system in an effort to build its niche market, the alt-A lending arena.
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