Automate Your Entire Private Lending Business (Canada)
Save hours of manual work by automating all processes, reducing errors and increasing efficiency.
Traditional Text Based Software
Mortgage Automator Platform
Loan Origination
Traditional Text Based Software:80+min
- There's no way to properly receive data unless it's written on a paper application. The information may be inaccurate.Can't be estimated
- Receive the deal electronically (via broker software integrations). Get the credit bureau within Automator. You can also add the deal information manually (3-5 min)~10 sec
- The term sheet is issued.Can't be estimated
- The term sheet is issued.~10 sec
- Prepare Lawyer Instructions manually.10-15 min with templates
- Prepare Lawyer Instructions manually.10-15 min per form
- Investor information is provided; lawyer instructions and compliance documents are available. All the information is stored in Mortgage Automator.~1 min
- Figure out the closing date, calculate the interest adjustment, if there are multiple investors, recalculate interest adjustments. Distribute accordingly to each investor. If there is a servicing fee or spread being charged to the investors, interest adjustment has to be calculated with the spread going to the administrator.15-20 min
- Funds were deposited, the closing date was selected, lawyer distribution or advancing statement is available.~10 sec
Loan Servicing
Traditional Text Based Software:90+min1 employee
- Manual input to cash management online or third party EFT platform. Verify and validate all files. Remove all discharged files, add all new files. Update payment amounts, make sure all the numbers are accurate.From 10 min to a
dedicated employee
- The deal is funded, the payment is automatically set up for pull.~10 sec
- Create a debit file (pull funds from borrowers), select payment period for accrued interest.~10 sec
- Remove investor payments that were supposed to be sent (based on the discharged loans), add amounts for investors based on the new files they funded. Make sure all of the numbers are accurate.Can't be estimated
- Generate a credit file and efficiently manage investor transactions. Disburse funds to investors, adjust payments by removing those tied to discharged loans, and allocate new amounts based on recently funded files.~10 sec
- Prepare investor statements each month.Can't be estimated
- Investor statements are sent out automatically.~10 sec
- Calculate per diems
Calculate penalties
Calculate payout fees15-20 min
- Payouts:
Select the requested discharge date, per diem is calculated automatically
Penalty can be calculated automatically
Payout fees can be calculated automatically~1 min
- Recalculate per diems.5 min
- Prepare discharge distribution breakdown for investors.10-20 min
- Payout date can be modified and per diem updated automatically, discharge distribution breakdown is ready.~1 min
Loan Renewal
Traditional Text Based Software:10-20 min
- Prepare the renewal agreement
Repost all conditions
Re-enter data if the interest rates or fees require updates.10-20 min
- The original data is prepopulated from the existing loan. Adjust information/loan terms and choose conditions. The agreement is ready.~1 min
Traditional Text Based Software
Over 190 Min
Traditional Text Based Software
Loan Origination
80+min
- There's no way to properly receive data, unless written on a paper application. The information may be inaccurate.Can't be estimated
- The term sheet is issued.Can't be estimated
- Prepare lawyer instructions manually.10-15 min with templates
- Prepare lawyer instructions manually.10-15 min per form
- Figure out the closing date, calculate the interest adjustment, If multiple investors, recalculate interest adjustments. Distribute accordingly to each investor. If there is a servicing fee/spread being charged to the investors, interest adjustment has to be calculated with the spread going to the administrator.15-20 min
Loan Servicing
90+min1 employee
- Manual input to cash management online or 3rd party EFT platform. Verify and validate all files. Remove all discharged files, add all new files. Update payment amounts, make sure all the numbers are accurate.From 10 min to a
dedicated employee - Remove investor payments that were supposed to be sent (based on the discharged loans), add amounts for investors based on the new files they funded. Make sure all of the numbers are accurate.Can't be estimated
- Prepare investor statements each month.Can't be estimated
- Calculate per-diems,
Calculate penalties (if applicable),
Calculate payout fees (if applicable).15-20 min - Recalculate per-diems.5 min
- Prepare discharge distribution breakdown for investors.10-20 min
Loan Renewal
10-20 min
- Prepare the renewal agreement, Repost all conditions, Re-enter data if the interest rates or fees require updates.10-20 min
Total Time:
Over 190 Min
Mortgage Automator Platform
Loan Origination
- Receive the deal electronically (via broker software integrations). Get the credit bureau within Automator. You can also add the deal informatio n manually (3-5 min).<10 sec
- The term sheet is issued.<10 sec
- Investor information is provided; lawyer instructions are available; compliance documents are available as well. All the information is already stored in Mortgage Automator.< 1 min
- Funds were deposited, the closing date was selected, lawyer distribution or advance statement is available.<10 sec
Loan Servicing
- The deal is funded, the payment is automatically set up for pull.<10 sec
- Create a debit file (pull funds from borrowers), select payment period for accrued interest.<10 sec
- Create a credit file. Send funds to investors.Remove investor payments that were supposed to be sent (based on the discharged loans), add amounts for investors based on the new files they funded. Make sure<10 sec
- Investor statements are sent out automatically.<10 sec
- Payouts:
Select the requested discharge date,
Per-diem is calculated automatically.
(If applicable) penalty is calculated automatically.
(If applicable) Payout fees are calculated automatically.< 1 min - If the actual payout date is different than requested, adjust the date, Per-diem updated automatically, Discharge distribution breakdown is ready.< 1 min
Loan Renewal
- The original data is prepopulated from the existing loan. Adjust information/loan terms if necessary, choose conditions. The agreement is ready.< 1 min
Total Time:
Under 7 min
Don’t take our word for it, read what other private lenders have to say about us.
4.9/5
G2 Rating
4.9/5
Capterra Rating
4.9/5
SourceForge Rating
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