eCommitting Software Aims to Aid Smaller Lenders
Doug clark does not have problems with committingeCommitting, to be precise.Doug clark does not have problems with committingeCommitting, to be precise. In fact, hes bullish on the software program for mortgage lenders, one of Fannie Maes Core applications that the secondary mortgage company has just rewritten as part of a massive two-year project. "From Day One, its exceeded expectations," said Clark, who is chairman and CEO of Homeowners Mortgage Enterprises Inc., in Columbia, S.C. As a nonbank mortgage lender, Homeowners obtains funds from banks through the commitment process. Streamlining this process helps Homeowners and other lenders save money and respond to customers fastera major goal of the Core applications overhaul.
Clark said the new application is quite an advance over its predecessor, Fannie Maes Desktop Trader, which relied on dial-up connections and could perform only a few tasks.