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Mortgage Solutions

Thoroughbred Technologies provides a suite of products, which address the Mortgage Post Close Audit workflow process, thus enabling lenders to increase back office productivity.  These solutions far extend traditional file tracking and fills the technology gap between Loan Origination and Loan Servicing.

After funding,OPUS PCA Interfaces will work with your current LOS (loan origination system) and your LSS (loan servicing system) to automatically populate the OPUS databases with all the loan level content data you will need for document review and resolution. Expected documents will be populated to the database,  based on the loan type.  If imaging occurs prior to review, OPUS PCA will set imaging flags and interface with your imaging system.

During this interface process, based on user definable business rules, loans will be placed into different workflow queues for attention.

Loan / Document Review

Loans may be distributed to staff based on loan type, channel type, location, or other business rules.  Establish multiple sets of review questions based on loan type or channel.  These questions can be linked to the individual loan, or to specific documents.  Each review question template is user definable within the OPUS PCA administration module.

OPUS PCA is media agnostic and can plug into your existing mortgage imaging system. This allows the user to view the document image, LOS/LSS content fields, and review questions all at once.  Document exceptions can also be created at this time and automatically directed to exception queues for resolution.

Data Validation

Each loan review question can link to a LSS field.  As the user reviews the documents and responds to the questions, validations of document actual values can be compared to those values reported from the Loan Servicing System.  Users can enter the corrected value, which OPUS PCA will maintain for a backend process to pickup and make adjustments to the LSS or other system of record.

Exception Resolution

As document and other loan exceptions are discovered during the review process, they will be captured and submitted to one of the Exception Resolution Queues.  These Exception Resolution Queues allow users to pull up a list of exceptions, which have been assigned to them or fall into a specific category for which they are responsible to work.   Some of the Exception Queue types include:  By Specialist, By County, By Branch, By Correspondent, By Loan Type and By Follow Up Date.  Users can also create custom Exception Resolution Queue types to assign exceptions through a manual, batch, or back-end process.  Feeds from 3rd party custodian system also allow for exceptions to be brought in for resolution.

Document Tracking / Document Recording

The OPUS PCA Document Tracking module allows the user to track the receipt and status of all expected loan documents (or only collateral documents).  Users can capture user definable attributes for each document type and enter recording and re-recording information for certain documents.

Document barcode slip-sheets can be printed to aid in the imaging process, or OPUS PCA can interface with the imaging system to designate receipt of these documents.

Correspondent Reporting / Notification

Correspondent lenders or wholesale brokers can automatically be notified (optional) as loan exceptions are determined or when documents move to a ‘Missing’ status.  Notifications may be by automated email or correspondent web portal to monitor their exceptions.

Electronic Excel spreadsheets can also be generated for each correspondent, reflecting their outstanding exception and missing documents.  All comments from the external correspondent can be imported back into OPUS PCA and reflected on the corresponding exception or document.

Pool Certification

OPUS PCA can monitor the progress of loan pools towards their certification.  Reports at a pool level can be generated to track loans with missing documents or document exceptions, which are beyond the parameters of the pool.  Certification dates and re-certification dates can be tracked as well as pool volume.