| 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
| Calculators | 11 | No |
