The beginning of POESyNet
In March of 2007 I was approached by a small mortgage company in Albuquerque New Mexico that had many inovative ideas for rising above their competition online. The most dynamic of these ideas became known as the "Process of Excellence". The POE needed to be an online application that brought all of the many aspects of approving a home loan into one place on the web where borrowers, agents, title companies, appraisers and processors could remain in constant contact about the status of the loan process.
1. When the Loan officer secures an application from the borrower, the LO enters all of the information into POESyNet. POESyNet provides many different printables for the LO to deliver to the Processor at the beginning of the loan approval process.
2. By step 2, the processor has already been informed of the new loan by an email generated when the LO completed the cover-sheet for the new borrower. With immediate access to the borrowers information, the Processor can compile within POESyNet a list of conditions to be met by the borrower to complete the loan.
3. In step 3 everyone gets involved. All of the individuals who participate in the loan approval process are notified vis automated email that the Borrower has applied for the loan with the mortgage company, and a close date is set.
From this point forward POESyNet will communicate automatically with everyone involved in the loan approval process so that the close date is met on time. When conditions are met, the borrower, LO, Buyer's and Seller's agents and title company are notified. The same is true for when conditions are not met. The POESyNet message center makes it easy for all of the participants of the loan to share paper work and any other information during the process.