Loan Origination Software
This is the system that almost everyone grew up on – except the MLOs and processors that worked for Wells, Chase, Countrywide, B of A, etc. The learning curve for new people is short.
Point “works” out of the box and that has gotten a lot of people into trouble. You need to configure Point so that it works properly before you begin using it. Point can be used as a stand alone – which I advise against, or with PointCentral, which I highly recommend. PointCentral provides some hierarchical password protections, the ability to host and access remotely, document management and several other features that are critical in today’s environment. There are third party hosting companies so that you do not need to manage the server, updates, backups, etc.
Point had a lock on the non-bank LOS business until the market started moving toward a mortgage banking model. The executives at Point were a asleep and didn’t wake up until Encompass had taken about half their market share.
His favorite tips for using Point and also setting up the FHA MI Tables in Point
Tips on resolving TRID issues in Point
You can reach my friend, Steven Breden at 817-581-2204 or firstname.lastname@example.org
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