TRID Disclaimer Added
We have added the following in a 12 point font, to the top of page one in eacfh of the sale and refi scenarios.
“Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.”
Mortgage Insurance Payment Options
You can opt to pay MI monthly, by single premium or single premium paid in cash. You can also split the payments between monthly and a single premium.
Credit Score Based MI Factors
We have added a matrix of MI factors based on LTV and credit scores. You use the factors from your MI company to adjust the matrix in the setup screen. Then when you run a conventional sale or refinance scenario, you can simply click on the credit score range and the monthly mortgage insurance will instantly adjust. You can also select a score for financed MI or lender paid MI and these will calculate also.
Internet Calculators & Showcase of Homes
With our Internet version, you can create loan scenarios and email them to your clients using an IPad, Smart Phone or any device that can access the Internet. You can put your unique web address that we create for you in your Outlook signature, on your business card or link to it from your website. You can also give your URL to your agents. When they print something for a client, it will always have your name and contact information included. The interface is pre-programmed so website skills are not required. Click here for a preview
Enhanced APR Calculations
Our newest version gives you the option to allocate part of a seller credit to a specific closing cost. This will have the effect of lowering the calculated APR. This is covered in RESPA. It could give you an edge when competing for a potential client.
Automatic Free Updates
As long as you have our most current version series, you will get free update patches throughout the year. We send out an update when there is a change in agency guidelines.
If we offer a new version, then you will be notified and you can decide if you want to purchase it. At that point, you would also get free update patches while using that version. With the update patch, you do not have to reinstall the program.
Because of the new regulation requiring that each LO must display their NMLS #, we have added a spot for this in the setup area. Once you enter your information, it will be displayed when you print.
Reset your FHA defaults without buying an update
With version 8.1 or later, you can reset the defaults for minimum down payment, MIP & MMI. To do this, open the FHA Sale or Refi screen and look in the menu bar at the top of the screen. Then read across to Down/MIP/MMI. Open that panel and reset your preferences. If you have an older version, Click Here to order the upgrade.
Third Party Service Providers
Version 10.0 has added a 3rd party service provider contact module. You can store contact information for your favorite affiliates. (Title companies, pest inspection, etc.) Then with a couple few mouse clicks you can create and print (or email) the list. Not only is this handy for their reference but it a new HUD regulation requires this for the service providers that they can shop.
Client Contact Management
Version 9.0 added a Contact Management module. You can use this feature to alert you when it is time to contact a prior client. It will also track the clients rate compared to your current available rate and let you know when it is time to contact them about a refinance. It can even generate a letter that will calculate their current loan balance and show what the drop in their new payment would be as part of the refinance.
You can also edit our form letters or create your own from scratch. Variations on salutations and complimentary close options can be changed with a mouse click. All letters can be printed or emailed using our built in PDF converter.
Tools for purchase loan also now include a monthly amortization schedule.
Jumbo VA Purchase Loans
Veterans have traditionally been able to borrow four times their eligibility for a no down payment loan. Our latest version now uses the expanded VA & investor guidelines to get your Veteran client a larger now down loan. You can set your county loan limits as a default. You can also reset funding fees without needed a software update.
We have added Buydowns to the Open House Flyers. Pick from a 1-1, 2-1 or 3-2-1 buydown. The cost of the buydown instantly calculates and can be added to the buyer's closing costs or paid with rebate pricing. Sample
Built-in Email & PDF converter
Quick Qualifier now ships with its own PDF converter. A single mouse click converts your document to a PDF, opens your email and attaches it. It also adds a subject line and message. All you have to do is enter the recipient's address and hit send. You can also use the PDF feature for an intant preview. Video
New Rent vs. Own
In addition to showing tax benefits of owning a home, QQ now uses your factors to project rent vs. house payment over the next thirty years. It also shows equity build up based on appreciation and loan amortization. Sample
Side by side loan comparisons
You can compare two or three sale or refi scenarios with a single mouse click. Then you can print the loan details side by side comparing the payments and cash requirements. Sample