Loan Modification Software

A reference field was added to the cases, this allows the users to identify the cases “their own way”. This new field can be used in different ways.

1. Each case will continue to have the case number automatically assigned by the program, e.g. CAS00001240, but Customers (loan modification companies) with existing cases can continue to reference their cases by their original number being stored in the new reference number.
2. If Company is processing more than one case per Home Owner (Home Owners with more than one property) the reference field may identify the multiple cases per Customer by entering the same reference number for all the related cases.

Attending to the changes of the Loan Modification Industry, we have released an improvement in the categorization and control of cases that allows the users to specify their own list of Attorneys/Attorney Firms. These are some of the features:

1. Users can create the list of Attorneys that are legally representing each Case.
2. The Attorney can be selected during the initial interview and changed later from the leads and cases modules.
3. Under both, Leads and Cases browsing window, the user can see the name of the Attorney representing each case.
4. Users can generate reports of cases per Attorney (based on user’s rights).

Now SX3 offers the opportunity to define your own process pipeline, allowing administrator users to control the cases with more detail. You can specify the different stages of every module in the loan modification or short sale process opening the door to a greater customization and control. Let’s take the following example:

Under the Leads (Prospects) module you may specify the following as your process stages:

• Lead - Just received.
• Reviewed – Waiting for Docs.
• Reviewed – Ready to be transferred to Negotiation.
• Rejected – Pre-Approval failed (rejected by Lender).
• Rejected – Pre-Approval failed (Incomplete documentation).

Under Cases-Negotiation you may want to specify the following stages:

• Just transferred.
• Case requires Forensic Audit.
• Case requires more Documentation.
• Case requires Attorney review
• Closed: Approved
• Closed: Rejected by the Lender
• Change to Short Sale.

Under the cases Archive you can specify different statuses that can clearly identify the result of the process, for example:

• Closed: Approved by Lender.
• Closed: Rejected by Lender.
• Closed: Short Sale.

The users can specify as many statuses per process as required. The specification of statuses allows the user to obtain reports and also to filter cases “on the screen”. For example, users may need to filter cases in need of Attorney Review; this can be easily done by selecting the filtering checkbox and selecting the status “Attorney Review” under the Cases Browse window.

This new feature is part of SX3 Loan Modification Software continuous efforts to improve its software products and provide its customers the highest level of flexibility and control over their business. SX3 is the only software product available today that can offers this high level of flexibility.
 

One of the most important capabilities of any robust database application is its ability to generate reports in different formats and also to allow the users to specify different sets of parameters like dates, specific entities, types of transactions etc. SX3 Mortgage Modification Software has added a large number of new reports to its already complete extensive list.

Some of the reports included with the SX3 Loan Mod Software are:

AGENTS

• General - Commissions generated between dates.
• General - Commissions with open balance.

CASES-NEGOTIATION

• Detailed - Negotiations - First Mortgage - All / per Case.
• Detailed - Negotiations - Second Mortgage - All / per Case.
• General - Cases / Labels / Excel.
• General - Cases / all Negotiators.
• General - Cases / per Lender.
• General - Cases / per Negotiator.
• General - Cases / per Status.
• General - Cases / per Status / per Agent.
• General - Cases Status / all Agents.
• General - Cases Status / per Agent.
• General - Cases due for follow up.
• General - Cases due for follow up / per Lender.
• General - Cases due for follow up / per Lender & Negotiator.
• General - Cases due for follow up / per Negotiator.
• General - Cases grouped per status.
• General - Cases per Advertising Campaign.
• General - Cases per Referring Agent / created between dates.
• General - Cases per Referring Agent / transferred between dates.
• General - Cases with specific foreclosure date.
• General - Collections between dates.
• General - Collections between dates / per Referring Agent.
• General - Collections between dates / per Sales Rep.
• General - Collections forecast between dates (Cases only).
• General - Past due payments as of today.

LEADS-PROSPECTS

• Detailed - Full lead report (Enter Case number).
• General - Collections between dates.
• General - Collections forecast between dates.
• General - Leads / per Sales Rep.
• General - Leads / per Status.
• General - Leads due for follow up.
• General - Leads per Advertising Campaign.
• General - Leads per Agent / created between dates.
• General - Leads posted between dates.
• General - Leads with foreclosure date in “nn” days.
• General - Past due payments.
• General - Summary of Leads by Advertising Campaign / between dates.

SX3 is committed to offer the most complete software tool for the loan modification industry. Make sure to schedule a live online demo!
 

This Rated #1 loan modification program offers a modular approach to the loan modification or mortgage modification process. The main 3 modules of this tool are:

• Leads (Prospects).
• Cases (Negotiation Control).
• Archive (closed Cases file).

One of the main features of SX3 Loan Modification Software is the ease of access to the information on the screen. With the latest release of SX3 V2.0 Sales Reps. can easily access their cases that have been transferred to the negotiation module, this ensure that the Sales Reps. can continuously provide support and updates to loan modification Customers (home owners) when they call for case status.

Sales Reps. can only “preview” the details of each case; they cannot make changes once the case has been transferred to the negotiation window, case updates are reserved to the Negotiators.

SX3 Loan Modification stands for data security. Supervisor users can easily specify which Sales Reps. can preview Cases after they have been transferred to the Cases module.

SX3 is the fastest and more feature rich loan modification program available today. Make sure you schedule a live online demo!

President Barak Obama’s modification guidelines also help Loan Modification Companies to prequalify home owners when doing a mortgage modification. These guidelines include a predefined set of Front-End and Back-End DTIs (Debt to Income ratios) that clearly set the parameters to prequalify customers.

Being the rated 1 Loan Modification Software, SX3 has already incorporated these guidelines into their modification program. Now you can easily specify from the open list of Lending Institutions (Banks) the Front-End and Back-End DTIs (per Lender).

This functionality combined with the Financial Statement module that allows the users to enter actual and proposed situations (multiple scenarios) can easily pre-qualify the customers with simple clicks.

Offering a first class service to your loan modification customers is now easier than ever. Using SX3 v2.0 you can play safe offering a better and more accurate service to your customers by following the federal guidelines.

SX3 Loan Modification Software has increased the level of security to access the catalogs menu. Now Administrator’s can easily grant/deny access to the catalogs menu “per user” with a simple click. Being a large database application, this new SX3’s feature increases the security of the entire system, which is especially required when the database it is being accessed by remote users

SX3 Loan modification software ahead of the curve with increased flexibility of user options and security control

The newest release of SX3 Loan Modification Software offers a complete new set of user options and improved security control that sets it apart of the competition. These are some of the new features recently released:

• On the security side, the system’s Administrator can individually select the modules that each user has access to, like Sales, Negotiations, Archive and Agents. The Admin user can grant access to one or multiple modules per user.
• Within the modules selected, the Administrator can also specify if the user will have access to his/her cases only, or all the cases of the users’ group the user belongs to or to all the cases of each module.
• Another feature added to this section is the ability to specify if the user can only preview information or make changes to it (edit).

On the users options side, the Administrator can individually select if a user can transfer cases from Leads to Negotiation and vice versa, or from Negotiations to Archive and vice versa. Also, the Administrator can determine whether a user can reassign cases within his/her own group of users.

All these new features are part of Short Sale Soft’s continuous efforts to improve its software products and provide its customers the highest level of flexibility and control over their business. SX3 is the only software product available today that can offers this high level of flexibility.