The Byte Bulletin - August 2008
BytePro 3.0 Now Available!
Byte Software is pleased to announce the release of BytePro Version 3.0!
Here’s a sample of New Features in BytePro 3.0—Standard and Enterprise Editions
- Added a customizable dashboard for displaying a mix of Web pages and BytePro reports
- Added automatic calculations for FHA risk-based premiums
- Added the new FHA loan transmittal (form 92900-LT)
- Modified the 1008 transmittal
- Added a dozen new partner interfaces
- Added new picture for the loan officer and listing agent on the open house flyer
- Enhanced validation rules (Enterprise only)
- Added a ClickOnce installation option (Enterprise only)
- And much more! See the release notes for details
BytePro Standard customers can download version 3.0 from our Web site.
BytePro Enterprise customers can request version 3.0 from Byte Technical Support at 800.695.1008 or e-mail support@bytesoftware.com.
If you are not current on your annual support agreement, please contact Byte Software Sales at 800.695.1008.
If you are a Byte Classic user and are current on your annual support, you may upgrade to a 10-user license of BytePro Standard for free! For more information on BytePro Standard, including a free product demonstration, no-obligation trial and training, please contact Byte Software Sales at 800.695.1008 or sales@bytesoftware.com.
BytePro Enterprise Features: Validation Rules
Validation rules are a powerful feature of BytePro Enterprise which allow an administrator to control the data that is entered within the loan file. Here are a few examples of what can be done with validation rules:
- Prevent documents from being printed unless they are filled out completely and correctly.
- Prevent users from leaving a screen until certain data has been entered.
- Prevent users from changing the loan status until all of the information required for the new status has been entered.
Validation rules compare loan information such as the loan amount and the subject property state with real values like "417,000" and "NY". A simple validation rule could check to see if the loan amount is greater than 417,000, and if so, display a message that the loan is a jumbo. When triggered, validation rules can display messages or block the user from printing documents, changing the file status or even leaving the screen until the rule is satisfied.
Validation rules can compare information that has been entered in the loan file against the associated loan program. For instance if a loan program requires a minimum credit score, you can prevent any documents from being printed if the loan's representative score is below that minimum. To implement this check you don't have to set up a separate validation rule for each loan program; instead you set up a single rule that uses the loan's loan program code to check against the associated loan program in the master list of loan programs.
A validation rule can be as simple or as complicated as needed. Even a complicated rule involving multiple fields can be easily constructed with the validation rule's condition editor. The condition editor uses operators like 'greater than', 'between', 'on and after' and is blank' to compare fields from the loan file with real values ('2.34', '11/12/2008', 'WA') or to check whether or not a field is in a selected group (FHA, VA or Conventional).
With this powerful tool, managers can build automated compliance checks and loan officers and processors have a memory aid, a double-check and a conduit for timely information. Validation rules take time and effort to setup and maintain, but they are worth the investment.
Validation Rule Tip: Validate for incorrect or non-compliant data as the user leaves that screen to make them aware of the error as soon as possible. Validate for missing data when the user changes status--that's usually when data is expected to be complete.
Partner Spotlights: a la mode, inc.
Are You Looking For A Web Solution?
BytePro Software (Standard, Enterprise and Online editions) is tightly integrated with a la mode's complete Web-based toolkit designed to leverage the power of the Web to grow your business!
The following Web solutions offered by a la mode enhance the loan process for you and your borrower. Try a free trial of one or all of these solutions today.
Mortgage Office level XSite – Have your own Web site for borrowers providing a user-friendly online 1003. It includes the ability for borrowers to review their loan status and add information online. Loan information then imports directly into BytePro saving you time from tedious data entry.
SureDocs – Create electronic versions of disclosure documents and get back e-signatures in minutes. No more waiting for mail or overnight services – all while remaining GLB compliant.
XSellerate – Expand your business by automating your marketing and run easy, targeted campaigns to prospective and current customers with pre-written campaigns, or create your own.
FleXApp 1003 – Do you already have your own company Web site, but want to add a way for borrowers to fill out a 1003 online? FleXApp lets you seamlessly add that online 1003 as well as include automatic e-mail status updates so your clients, real estate agents, title companies, or anyone else in the loop, is informed every step of the way.
As a current customer of Byte Software, you'll receive 10% off of any a la mode purchase. Visit www.alamode.com and use the coupon code “BYTE” at checkout.
Improve your business process today and save money! Contact a la mode at 800.ALAMODE, or click here to learn more.
CBC Settlement Services
Did you know that Byte Software provides online access to settlement services offered by CBCInnovis? This direct integration allows you to order settlement services without leaving the Byte Software application, at no additional cost.
CBCInnovis is the parent company of Byte Software and leverages 55 years of experience through more than 1,500 employees to provide critical business information for the lending industry via a compliment of services that include: Appraisal/Valuation, Credit Reporting, Title, Flood Determination, Default Management, Homeowner Insurance, Life Insurance, Fraud Detection and Data Verification.
Appraisal Special:
Receive a free Flood Lite* product with every appraisal order.
Contact our National Real Estate Sales Department at 800.805.0592 or check out CBC Settlement Services' Web site to learn more and to set up your account today and to take advantage of this appraisal special.
*Flood Lite: is a non-guaranteed flood determination completed by CBCInnovis, which indicates if the subject property is ‘In’ or ‘Out’ of a Flood Zone.
ComplianceEase
ComplianceEase®’s flagship product, ComplianceAnalyzer®, is the mortgage industry’s leading automated compliance and risk management solution that audits against all applicable federal, state and municipal high-cost legislation and state consumer lending regulations.
Customers using BytePro software currently have the ability to run comprehensive, loan-level compliance checks within seconds through ComplianceAnalyzer, without having to leave BytePro.
Exclusive Discount Package for BytePro customers: For the next 45 days starting on August 25, 2008, BytePro users will receive the following benefits through this exclusive offer when signing up for ComplianceAnalyzer:
- 50% discount off the one-time implementation fee
- 20% discount off each transaction charge for the first 3 months
- Complimentary user training session
- Unlimited client support for ComplianceAnalyzer
To start utilizing ComplianceAnalyzer today, please contact ComplianceEase at 866.212.3273 or info@complianceease.com.
DataVerify
DataVerify has an interface in BytePro under our new "Fraud Detection" category. DataVerify offers the mortgage industry's most robust, sophisticated and data-rich tools available to reduce losses and risks associated with fraudulent misrepresentations--before, during and after loan origination. They deliver identity, income, employment, property, asset, occupancy and third-party license and performance verification. To learn more visit their Web site at www.dataverify.com.
To receive product data sheets, schedule a demo or to speak with a sales representative, call 866.895.3282 or e-mail sales@dataverify.com
DocuTech
DocuTech has a built-in interface in the Closing Docs heading under the Interfaces menu in BytePro. DocuTech's ConformX product is a Web-based Enterprise solution that transforms any Internet connection into a 24-hour loan origination or closing office. Easily reduce your closing process time in half and start closing more loans in less time!
To learn more about DocuTech's ConformX and other solutions, check out www.docutechcorp.com or call 800.497.3584 or send an e-mail to info@docutechcorpcom.
Title First
Did you know that Title First Agency is now in the BytePro interface Title section? Visit their Web site at www.titlefirst.com or call 800.837.4032 to get more information or to get set up with them to order title services via BytePro.
Byte Software Training
Check out our online classes. Sign up for yours today!
- Introduction to BytePro Enterprise - FREE
- Introduction to BytePro - FREE
- Closing Costs Overview for BytePro - FREE
- Defaults Overview for BytePro - FREE
- Byte Classic to BytePro - FREE
- Advanced BytePro for Loan Officers - $50
- Advanced BytePro for Processors/Managers - $50
We also offer On-Site Training to meet your business needs. Contact our Training Department at 800.695.1008 for details.
Visit our Training Page for more information.
About Byte Software
Byte Software, based in Kirkland, WA, is a provider of loan origination software to banks, brokers and credit unions across the United States. Byte Software products streamline the processes used by originators and processors, allowing them to focus on generating additional business and subsequent revenues. Founded in 1985, Byte Software is a wholly owned subsidiary of CBCInnovis, a leading provider of real estate settlement services.
