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OPUS PCA Mortgage WorkflowOPUS Post Close Audit (OPUS PCA) addresses the workflow processes, which are required after funding and prior to selling of a loan pool. OPUS PCA provides the back office functionality, which is the position between the Loan Origination system and the Servicing System. Designed to be media agnostic, OPUS PCA will guide the user through the processes of Loan Review, Exception Resolution, Document Tracking and Pool Certification. OPUS PCA accepts feeds from the Loan Origination (LOS) and the Loan Servicing System (LSS) and can link to third party imaging systems. Feeds from OPUS PCA can also be sent back to the LOS or LSS systems. Exceptions can be imported from the Custodian and automatically routed to the appropriate specialist for resolution, based on user definable rules. OPUS PCA allows for customer customization to meet the specific needs of any correspondent lender, institutional lender or custodian. Components of OPUS PCA include:Loan Review - This module steps the user through user defined document verification and allows the user to create exceptions and validate LOS and LSS data. Goverment Loans - Setup speical review rules for FHA/VA loans and track HUD binders and their process. Collateral File Checklist - Setup custom checklist for each different loan type. Checklists can be reviewed to assure all Collateral documents are enclosed. Exception Resolution - This module provides workflow queues and tracking of exceptions during the resolution process. Exceptions can be imported from the Custodian or automatically created from the Loan Review process. Document Tracking - Manages the receipt of all critical or annual documents. Tracks document recording / re-recording information and manages the transmittals to investors. Pool Certification - Tracks the eligibility for pool certification based on open exceptions and missing documents. Loan File TrackingBegin tracking loan file documents as soon as the come in the door from branches or correspondent lenders. OPUS PCA allows for indexing at the file and document level, and can print document barcodes to be used in the imaging capture process. Collateral file document checklists (based on the type of loan) can guide users through a quick confirmation required document. Unfunded loan files can also be tracked through an archive phase and requested should the loan be re-worked at a later time. Other key features for file and document tracking include:
Loan Review DetailOPUS PCA Loan Review provides the workflow process to review all loans as they are funded or purchased. OPUS PCA will accept feeds from the LOS or LSS systems and will display all critical data fields required for the review process. Key features of Loan Review functionality include:
Exception Resolution DetailOPUS PCA can accept loan exceptions from custodian feeds or those found in the loan review process. These exceptions are routed, based on user definable rules, to an exception specialist for resolution. Exceptions, which are to be handled by a third, party vendor or correspondent lender can be exported for email. One may also allow correspondent lenders to review their exceptions via the OPUS PCA web based interface to their exception queue. Key features of the Exception Resolution functionality include:
Document Tracking DetailOPUS PCA provides for document and file tracking for all loans. Expected documents can be created when the loan is created in OPUS PCA and the document list can be based on rules regarding loan type. As documents are received, they can be marked as received either individually or through batch receipt. Document status can be marked and incorrect documents can generate exceptions. Received documents can also be flagged to be part of transmittals to either investors or custodians. Key features of the Document Tracking include:
Loan Pool Certification TrackingThrough the processes of Loan Review, Exception Resolution, and Document Tracking, OPUS PCA users can track the eligibility of a Loan Pool to be certified. Loans can be added to pools via feeds from the LOS or LSS system or can be added manually in OPUS PCA. Users can view reports for pool level exceptions and missing documents and record certification information. Additional features of OPUS PCA include:
Mortgage Post CloseOPUS PCA provides mortgage workflow system for mortgage loan review pre-close and mortgage post close, along with loan file tracking and document tracking. Mortgage Document Recording with HUD Binders for FHA VA Mortgage Loans. Collateral File Tracking and Collateral Checklist to assure complete loan packages. |