By B.J. Bounds
Promote Compliance with Technology
Senior marketing communications
As rules change, automated systems can keep mortgage operations in line
With all the change the mort- gage industry has endured lately, many brokers have
struggled to ensure their employees
comply with new regulations. If you
are a business-owner, you should lead
and encourage employees in a way
that improves their performance and
increases your company’s profitability
and growth. You also should play a vital
role in ensuring your entire operation
functions efficiently and consistently.
Keeping everybody on the same page
with regard to compliance and business processes is vital to maintaining
an audit-friendly operation.
Establishing new procedures or modifying existing ones can be accomplished
using the support of technology. Basic
standardization on many levels starts
with using loan-origination and processing software. You can create a business-process flow that enforces compliance
based on how you do business.
If your system is networked, for ex-
ample, you should have all the neces-
sary tools at your disposal to designate
employee access to certain screens
and fields and to implement appropri-
ate business rules. If you create your
own templates, added security for ac-
cess and editing also is crucial. Tem-
plates are customized loan files that
are pre-populated with information
that’s typically fixed for each borrow-
er’s file. By using templates, users can
easily navigate the loan process.
You should be allowed to search the
pipeline for loan and activity-status updates at any time. This level of security
and visibility is especially important if
you have employees who work in different offices or from home. By using rules
and flexible systems, you can customize your work flow to suit your business
processes and modify user behavior.
Managing business processes can
begin easily with rules you create
within your loan-origination system.
These rules can dictate appropriate accessibility or completion of particular
screens or fields within each loan file.
With action-based rules, you can
block certain actions based on file status or individual loan fields. You also
can require that users complete additional fields before performing other
You also can use templates to pop-
ulate typically stable costs so that
fees are consistent and accurate. Cen-
tralized template management and
distribution enables users to access
templates tailor-made to accommodate
company policies and procedures.
B.J. Bounds is the senior marketing communications specialist for Calyx Software.
In addition to media relations and copy writing, Bounds is a contributing author to the
Calyx Software blog, CalyxCorner. She has
more than 10 years’ experience in sales and
corporate marketing with a focus on technology that spans several industries. For more
information on Calyx Software, contact (800)
362-2599, or visit www.calyxsoftware.com