Loan Modification Software: SX-3. Anyone using this?

Has anyone here actually used this application?

I need to get our attorneys set up on a great application that will handle oriignation volume and manage a pipe with 500-600 open transactions.

If you have used this software, please let me know.

If you are using something different and are happy with it, please let me know that too.

Before any of you snake oil salesman come at me with your "perfect solution", be advised I know how to manage the volume and the processes it requires.

Thank you in advance.

Hey Steve...

Are you looking for mainly of a back end processing or something your originators can upload as well? I am working with some people that are building a sales, processing and admin system allowing those only to have access to what they authorized to see. Let me know.

Beau

Beau, I am actually looking for a combination CRM and processing tracking application.

In my previous endeavour, I built a combo application with a web based application called Quickbase by Intuit. Quickbase is like ACT on some serious steroids. It is very robust. However, it was a real pain in the groin and took me freakin hours and hours and hours to build it.It is a great application don't get me wrong, but it is mainly a CRM, not a tracking tool.

Managing the processing pipe is by far the most critical part of this biz. When there are several hundred, like 800+ transactions in the pipe it is vitally important to keep transactions from languishing in each stage.

So I am not sure where I am on this thing yet. I have to make it available to at least 6 attorneys, different offices, and 50+ originators, different offices, plus processing staff, of course different offices.

SX-3 looks kinda sorta OK, but needs more flexibility in the financial module mainly because FDIC, FANNIE/FREDDIE, and investors use different guidelines with respect to gross vs. net, housing ratios, some use total DTI, etc. You know what I mean, it is changing by the week.

and all this only covers my legal and MOD departments, not everything we're doing.

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I'm new to all this. Been in the financial and re buss for 6 years now. I have a good modification pipeline (i've originated 70 or so since October) and have been dealing with outsourcing companies for the negotiations. Not the greatest results.

I'vebeen checking out the different CRM's and have many questions. Need some help because I want to have the negotiating in house. Need a crm asap.

jf

I actually just purchased a 20 user license with SX3. So far I am pretty satisfied with the database management scheme.

Itsa little buggy, but the auto population on the forms is very cool. You can assign cases to agents for there eyes only, which is also nice, if your like myself and have about 50 different processors/mitigators working with you, you''ll understand how useful that can be.

The loan proposals that is auto populates and prints out are very unique and straight to the point, for the lenders to see.

The only downside on this program would have to be the importing of scanned documents. It only lets you specify a single folder for all of your scanned docs, rather than a drag and drop feature which would make a huge difference.

Id give it a 7.5 out of 10

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We have a reseller program

I have been using 850 audit system enterprise. you can do forensic audits, etc. Also has the NPV test application, which is what banks are using now for approvals. They are continueing upgrading software while guidleines are changing. It should handle all your requests!

If this is a good softwre program I may have some interest as well.  How much does a program like this cost?

Mike K in California

Here is the link to website. They also have a link to register for a free webinar on the website so you can see the software and features.

http://www.modifycentral.com/

Cheers!

If your looking for something for a single loan officer that is inexpensive try these guys www.turnkey4loanmod.com It comes wiith leads and how to run your own loan biz.

If you google "loan modification software" you will see a variety of solutions out there.  

For companies that are working with multiple attorneys, originators, or outsourced processing you should look for something web based.  This will allow everybody to work together, share documents, process updates and keep track of status from a web browser.