Understanding FundMore and If It’s a Good Fit For You

Are you searching for a streamlined solution to manage your mortgage applications? FundMore offers a comprehensive Loan Origination System (LOS) designed to simplify and enhance your mortgage processing. This guide will walk you through the key features and functionalities of FundMore, helping you determine if it’s the perfect fit for your needs.

What is FundMore?

FundMore is an advanced AI-powered platform that acts as a central hub for managing mortgage applications. It provides tools for lenders, underwriters, and other stakeholders to collaborate effectively, make informed decisions, and streamline their workflow.

Key Features and Functionalities

Dashboard: Your command center, the dashboard provides an overview of the application, including a left-side menu, quick action buttons, and tabs for team and chat functions. The dashboard also displays deal stages and widgets containing summarized information about the application.

Manager Portal: This administrative area allows you to apply your company’s branding to the platform. Here, you can manage users, customize settings, and configure various elements such as Approval Types, Conditions, and Document Types. You can also manage company settings, user permissions, and create custom fields.

FundMore AVA: An AI-powered assistant that helps users with real-time insights, answers application-related questions, and simplifies the underwriting process. AVA can provide summaries of applications, uploaded documents, and lists of tasks.

Application Management: The system provides multiple ways to create and manage applications. You can ingest applications from POS systems like Filogix or Lendesk. You can also manually create applications or upload them using an XML payload.

Pipeline View: The Pipeline View is where you can see all the applications assigned to you and track the stage of each application. You can view qualifying information, such as the applicant’s name, loan amount, and property address, as well as set the priority of each deal.

Document Management:

• FundMore.IQ: This feature allows for efficient document collection, enabling users to manage document requests, upload documents, and communicate with stakeholders. It can be integrated directly into the LOS system and tied to the Conditions and Documents feature.
• Document Templates: You can manage document templates and create them using HTML or Handlebars, and you can manage the details and indexing of the documents.
• Document Actions: The system allows you to review documents, add comments (internal or external), and accept or reject documents. You can also send documents to stakeholders.

Decision Engine: FundMore can automatically or manually assess deals and make product recommendations using a predefined set of rules. The system can also be configured to decline applications based on the subject property province automatically.

Conditions and Documents: The system enables you to manage conditions and documents within the same widget. Each condition is associated with a stakeholder and a party responsible for fulfillment. You can also manage document uploads and set them to be shared or not shared with brokers and borrowers.

Stakeholder Management: The system allows for managing various stakeholders such as borrowers, brokers, and lawyers. You can track stakeholder statuses (e.g. approved or blocked) and their information.

Financial Calculations: The system calculates key financial ratios such as Debt Service Ratios (GDS, TDS) and Loan-to-Value (LTV). It also calculates individuals' net worth, including current and future net worth, based on assets, properties, and liabilities.

Rate Adjustments: The platform enables adjustments to interest rates, including increments, decrements, and discretion, which are permission-based.

Task Management: You can create, edit, complete, and delete tasks that are categorized by stage within the application pipeline, allowing for a streamlined workflow.

Is FundMore a Good Fit For You?

FundMore is likely a good fit if:

• You Need a Centralized Platform: You're looking for an all-in-one solution to manage your mortgage processing rather than juggling multiple systems.
• You Want to Streamline Your Workflow: You need a system that can automate and simplify your processes, from application ingestion to document management and decision-making.
• Collaboration is Key: You require a platform that allows for seamless collaboration between lenders, underwriters, brokers, and other stakeholders.
• You Value Informed Decision-Making: You need tools that provide real-time insights, decision support, and accurate calculations to make better lending decisions.
• You Need Customization: You are looking for a customizable platform to brand to your company and adapt to meet your specific needs.

FundMore offers a robust and comprehensive solution for streamlining your mortgage process. By leveraging its advanced features and functionalities, you can enhance efficiency, improve collaboration, and make informed decisions. If you’re looking for a powerful platform that can transform how you do business, FundMore might be the perfect fit.