ONESOURCE BUNDLED SERVICES PLATFORM

OneSource provides a SharperLending™ secure, Web-based platform, single point of order and delivery, for ordering and managing mortgage products. Supported by an ICSA/TruSecure certified system.

The mortgage industry is migrating toward bundled services which will increase lender efficiency, provide cost savings and improve customer retention. Those companies that take early steps toward adopting the new bundled service platform will enjoy a strong competitive advantage over those running to catch up.

OneSource bundled services platform has
user-friendly interfaces
automated workflow
unique products
secure platform
depth and breadth of services provided at national and local levels
lender-centric, vendor-neutral characteristics and
customization that facilitates communication between lender and processor LLand lender and vendor.

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RISK MANAGEMENT PRODUCTS

To increase your competitive edge in today's intense mortgage industry, OneSource offers lenders a unique line of risk management products that complement any purchase, refinance or home equity transaction. Our unique products, that include the AVM Plus, the Property Plus Report, and the Mortgage Loan Report (MLR), are supplied by leading vendors who carry an industry-specific E&O policy provided by an AM Best "A" rated insurance carrier. This industry specific E&O policy allows the vendor to guarantee the accuracy of the report for the life of the loan and compensates lenders for any losses suffered as a result of any error or omission on the report. By automating the most untimely of the mortgage services -- lien position and valuation processes -- these unique products are able to offer significant cost savings in today's competitive lending environment.

OneSource offers 3 unique products under a consistent claims process.

Insured AVM (AVM Plus) - property valuation product
Property Plus Report - lien position product for refinance and LLequity lending
Mortgage Loan Report (MLR) - lien position product primarily for LLequity lending

All the OneSource unique products have a few things in common:

An information report (like a property report or an AVM)
A service agreement, stating the guarantees
The service agreement is tied to an insurer or risk management LLcompany

Under a single service agreement contractually tied to the E&O policy, lenders can change information providers based on customer service requirements or product coverage in a specified area. Providers can be rotated to balance volume or to allow for regional preferences or performance.

Lender Due Diligence Package

The due diligence package includes the Markel Insurance Co. E & O policy, policy amendment/endorsement, and the service agreement.

Markel E & O Policy - Standard errors and omissions policy LLdeveloped specifically for informational reports
Markel E & O Policy Amendment/Endorsement - Binds the E&O LLpolicy to the service agreement for the specific product
EPN Solutions Service Agreement - These agreements outline LLthe consistent cover and claims process extended to the holder LLof the informational reports age

As simple and convenient as “pointing” and “clicking” you can order

Credit report
Point of Sale
indent Uniform Residential Loan Application (1003)
indent Good Faith Estimate (GFE)
indent Truth in Lending (TIL)
indent Fannie Mae automated underwriting engine (DO/DU)
AVM
AVM Plus
Appraisal
Mortgage Loan Report
Property Report
Property Plus Report
Closing Services
Document Preparation
Flood
Title

CREDIT REPORT

By using One Source Credit Reporting you can order your credit report Anywhere, Anytime with internet access... re-issuable through FannieMae and many other automated underwriting systems. Not only can you request the credit report, you can also request supplemental tradeline updates.

POINT OF SALE

Typically most loan officers use about 20% of the Loan Origination Software’s features. Now they can
Take an application anywhere, anytime
Pull credit report (qualify borrower) anywhere, anytime
Do the disclosures anywhere, anytime
Get automated underwriting decision anywhere, anytime
Allow everyone involved to track the status of the loan after the application LLprocess

AVM

Automated Valuation Model (AVM) is a technology-driven product developed to provide unbiased residential property valuations in a cost efficient and timely manner. The AVM report sorts through vast collections of property data and sales activity to assign a value range for a property. This report takes into account recent transactions or similar value in the same area as well as real estate inflation or deflation. AVM report values tend to be conservative. Only an AVM report with a confidence score of 90% or greater is returned. Commonly used on loans where property ownership is not changing, e.g. refinance, equity loans, quality checks.

An AVM report is returned in 30 seconds and there are 11 AVM vendors on the SharperLending™ platform.
Home Value Explorer (HVE)
Veros (VeroValue)
Basis100
Case-Schiller Weiss (CASA)
LandSafe (ValueFinder)
First American (Value Point)
Value Wizard
Net Value
PSAR
SiteXValue
HPA 2000

The AVM Report is being accepted by many investors.

AVM PLUS

The AVM Plus takes the speed and economy of the AVM a step further. It includes a warranty backed by an Errors & Omissions insurance policy that manages the risk against possible valuation inaccuracies.

The AVM Plus adds risk management to the valuation process and provides you with an unbiased, 30-second, Warranted AVM that moves the mortgage loan faster than ever to closing.

The AVM Plus Report has been approved by many investors and Standard and Poor's.

Click here to learn more about AVM Plus.

APPRAISAL

The bundled services platform offers a variety of quality local and national appraisal vendors. The platform can be customized to add your current vendor(s).

MORTGAGE LOAN REPORT (MLR)

The Mortgage Loan Report (MLR) is a credit-based report used for Home Equity, Seconds, and Refinance mortgage loans. This unique product gives the lender a view of the borrower’s secured mortgage liens as well as any reported judgments and public record information.

The first part of the report is generated from credit data, and the remainder of the report includes a Borrower lien affidavit form that is to be completed by the borrower either prior to or at closing. The completed MLR returns to the lender in 30 seconds, giving the lender the ability to quickly make an underwriting decision on the loan.

The Mortgage Loan Report has been approved by many investors and Standard and Poor's.

Click here to learn more about Mortgage Loan Report (MLR).

PROPERTY REPORT

Property Report vs Title Insurance.
Property Report includes the *current owner of the property *how the property was conveyed to the current owner *open mortgages *liens *judgments *tax information*complete legal description and *vested title holder.

Faster turn-around time (48 hours vs 4-6 days or longer in some states)
Search back to current owner
indent ALTA policy completed when owner purchased property
indent Title Insurance must search 40-60 years
Less costly – save hundreds of dollars per report

Property Report includes the current owner of the property, how the property was conveyed to the current owner, open mortgages, liens, judgments, tax information and a complete legal description.

PROPERTY PLUS REPORT

Property Plus Report provides the traditional O & E Property Report, plus an executable Service Agreement which, when signed, transfer the underwriting risk and is backed by an enhanced Errors and Omissions policy.

Click here to learn more about Property Plus Report.

CLOSING SERVICES

With a click of the button you can request your closing services from a variety of quality local and national vendors who participate in the bundled services platform, e.g.
American Title
DAC Closing
GAC (General American Corporation)
National Real Estate Information Services
ValuAmerica
We can also customize this service to your preferred vendors.

DOCUMENT PREPARATION

The document preparation provider on the bundled service platform is Guardian Mortgage Documents (GMD). GMD has a proven reputation for delivering world-class, web-based document management solutions to the financial services industry using unmatched state-of-the-art technology platforms supported by best-of-class customer service and system reliability.

FLOOD

The Flood report provides a standard flood hazard determination for a property. The featured vendors for your loan bundles include
DPSI
Federal Flood
Fidelity Flood (FNIS)
First American Flood
First Lender’s Equity
Geotrac
National Flood Research
Universal Property and Flood (UPF)

TITLE

All of your title needs are met by our large selection of local and national title vendors including:
American Title – national coverage (Title - Equity)
DRI Title & Escrow – national coverage
Fidelity Orange County – nationwide coverage
General American Corp (GAC) – most states and counties covered
Mercury Transaction Services – most states and counties covered
National Real Estate Information Services – most states and counties LLcovered
NetCo Title – most states and counties covered
Rapid Tract – Florida and California only (Title – Equity)
TransContinental Title – national coverage
ValuAmerica – most states and counties covered
Can customize to your preferred vendors