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|
|
|
| Feature/Benefit |
LoanMagic |
Mortgage Coach® |
| 1 User License |
$395 |
$895 |
| Setup Fee |
No |
No |
| Annual Renewal Fee |
$395 |
$295 |
| Contract required |
No (Cancel Anytime) |
n/a |
| Install on multiple PC's |
Yes (Unlimited) |
$300 per license |
| 30 Day Trial |
Yes |
Yes |
| Free Training |
Yes |
No |
| |
| General |
| Stand-alone or Web Based Application |
Stand-alone |
Stand-alone |
| Contacts, Leads, and Calendar automatically synchronized with server |
Yes |
No |
| Automatically updated as new versions become available |
Yes |
No |
| Administration web site to manage account users, permissions, etc. |
Yes |
No |
| Ability to set defaults for charges, fees, impounds, mortgage insurance,
etc. |
Yes |
No |
Reports
| Email reports directly to borrowers |
Yes |
No |
| Report Format |
HTML |
Unknown |
| Loan Types Supported |
Fixed, ARM, Interest Only,
HELOC, Neg Am, Buydown, GPM |
Fixed, Basic ARM |
| Loan Program Database |
35,000+ Loan Programs
for 1000+ Investors |
No |
| Number of Reports Offered |
11 |
5 |
| Ability to customize report for each client |
Yes |
Minimal |
| Number of Loans compared side-by-side |
Unlimited |
4 |
| Edit amortization table for loan programs |
Yes |
No |
| Support for piggy-back Programs |
Yes |
Minimal |
| Calculations of debt ratios, LTV, etc. |
Yes |
No |
| Ability to save favorite proposals |
Yes |
No |
Interface to Loan Origination Software
| Export to LOS |
Fannie Mae 3.0 Format |
ASCII |
| Import from LOS |
Yes |
Yes |
Credit/Automated Underwriting
| Pull credit and import liabilities directly from credit vendor |
Yes |
No |
| Interface with Automated Underwriting Engines |
Fannie Mae 3.0 Export |
No |
Contact Management
| Contact Management Functionality |
Yes |
No |
Forms
| Create opening package and state specific predisclosures |
Yes |
No |
| Create closing docs |
Yes |
No |
Other
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