Copyright: Professional Real Estate Systems, 1994-1995


Adv
For years software companies have been developing technology for mortgage companies.  The only problem is, it's always 'back-end' software (processing through servicing) that gets all the attention.  You can't blame the software companies, they're just responding to the people who pay them, mortgage company owners and management.  As a result, most of today's mortgage software does not work for the loan officer.  Of course, many well known mortgage software companies have put out "front-end" modules... but wait just a minute, every loan officer knows that originating loans is quite a different thing than processing and servicing loans.  Unfortunately, no one told the programmer!  Those that tried found out that explaining the 'APR' to a programmer was just as frustrating as explaining it to a customer.  So now we have lots of little applications that call themselves origination software, but have nothing to do with selling and originating loans.  In order to translate all the complexities of the mortgage language, into the highly sophisticated lexicon of programming languages, it would stand to reason that 'the translator' must understand both!

CLICK HERE TO LEARN MORE --->


problem
A great technological void has grown in the mortgage industry.  On the back end, an ever increasing technology machine for processing and servicing loans.  On the front end, loan officers that will not use computers until someone makes a software program for them (and shows them how to use it)!  Now, in this day and age there are many that ask "how can this be"?.  Originating loans involves mountains of paperwork, financial calculations and regulations.  If any business cries out for automation, it's this one!  To understand how this paradigm was created, lets take a look at Joe Officer.

 He's been in the biz for years.  He knows how to make things happen in the field.  He's out there wheelin and dealin, doing power lunches and talking on the cell phone.  To Joe, his whole world revolves around a little thing called points!  Joe cannot be bothered with a clerical thing like data entry.  As long as he has his HP12C (calculator), his gold Cross pen and the market's in his favor, he's happenin.  He's ready to close the deal!  Why, would he spend precious time and money to learn computers.  The very thought makes Joe bored.

 This just devastates the back end staff.  For them, the battle has always been for cleaner originations,  higher quality information from point-of-sale.  The fact that Joe is not using a laptop in the field dramatically reduces the chances of any improvement on Joe's part.  As long as Joe continues to take applications by hand he will continue to make costly mistakes.  For example, he'll miss the gap in the employment history or forget the address to the checking account holder.  Then the data entry person can not quite make out Joe's handwriting and enter incorrect information into the processing system.  The processor is then faced with Joe's busy schedule in trying to get him to retrieve all this missing information!

 So what are the shareholders to do?  The money they spent on processing systems seems to have lost it's effectiveness without electronic originations.  They can't force Joe to use a laptop... unless they purchase all the equipment and software he needs... which is way too costly... and, in the end, he might not use it.  ...<hm>.  The point is, very little has been done to entice Joe to use computers.  Since Joe has been producing, and he was not screaming for a computer, nothing significant was done about the growing problem... until now!  Now, the problem is so big it can't be ignored.  Now, the back end is implementing 500 rule base automated underwriting systems and air phone communications.  Now, the back end is testing instant credit scoring and 15 minute approvals.  Now, the back-end is screaming at Joe because all the money they spent on the back end must wait for Joe to catch up.  Now, Joe's clients are screaming for CLO systems and instant loan product information.  Now, what does Joe do?

click here for an anology

click here for a graphical representation of the problem

CLICK HERE TO FIND OUT WHAT JOE DOES --->


graphView
If this represents back-end technology... (scroll down)

...then this represents front-end progress:

click here to return


analogy
What if only 10% of the nation's department stores used cash registers?  In other words, what if 90% of all point-of-sale transactions were recorded manually (that's by hand)?  How much would the margin of error increase?  What kind of overhead expense would that mean to each department store? What kind of a cost would that mean to a billion dollar industry?

Well, mortgage loan applications require much more information than item number and amount of sale!  Mortgage loan applications require more sophisticated math than adding sales tax!  However, 95% of all mortgage loan applications are still recorded manually!  Can there be any doubt that there is a serious problem in the mortgage origination business?


solution
 ...Joe Buys a Computer (or he's thinking about it)!

 Think about it.  There are only two things Joe can do (although he may not know it yet)... buy a computer (and learn how to use it) or get another job!  If he buys the computer what is he going to do with it?  With Joe's busy schedule, most likely he'll do the easy-to-learn, cool stuff like checking out screen savers.  The real question is what will Joe's boss do... what will Joe's company do, what will the industry do to get Joe off the screen savers and into industry software?

ANSWER:  Create major, full-size, full-functioning, high level software for Joe!

Major, Full-Size:   Forget these minor, 10 screen programs.  They appeal to Joe because they're easy to learn.  The regret comes when Joe learns that the function he needs either doesn't exist or falls well short of what he needs.

Full Functioning:   Lets equip Joe with every possible tool that he may need.  The list of functions for originating loans is very long. This explains why most software companies have stayed away from this type of project.  That is, "what if we build it and they (Joe) don't come"?  While others have taken on the endeavor thinking that a 1003 'form fill' and some financial calculations equal Full Functioning! (not)

High Level:   Many software companies that offer mortgage processing also offer 'scaled-down' versions (or modules) and call them origination packages.  These are perfect examples of 'low level' programs, or in other words, window dressing.  Functions exist only to qualify the function title and have little to do with practical application.

Software for Joe:   This software must be solely for mortgage origination.  Functions that sell loans, build relationships with real estate agents, store, describe and evaluate, up-to-date loan product information and borrower applications.  Software that will pay for itself within months and increase (a little thing called) points!

Conclusion:   Build software for Joe and he will come!  In other words, show Joe how this will make him money, how this will save him time and he will get excited about learning it!  That's it!  Show good 'ol reliable Joe how he can make more money in less time and he will become all computer, very quickly!  Now, all the extensive, back-end system modeling can really shine with Joe online...

WAIT!  Stop your applause!  Anyone that has ever tried to create this type of software described here knows it can easily take more than a year.  Who has the time or money to stop everything and take that kind of chance?  Guess Joe will just have to take out the slide rule and pencil again!  Sorry Joe...

  CLICK HERE TO FIND OUT IF THERES ANOTHER WAY  -->


ForeSight
 Welcome to ForeSight, the first major, full-size, full-functioning, high level software for Joe (and the loan origination business)!

...of course theres another way!  You didn't think we would leave Joe (and the entire mortgage industry) hanging?

ForeSight has everything that Joe needs to make more money in less time (what an incentive to learn computers)!

•	Major, Full Size:  ForeSight contains over 130 user screens and 100 database tables.

•	Full Functioning:  ForeSight comes with hundreds of functions, serving the full spectrum of loan origination.

•	High Level:  Many functions in Foresight are uniquely deep, transcending the standard 'window dressing' treatment.

•	Software for Joe:  ForeSight was written by a highly successful loan officer (me), so naturally it is designed to assist Joe to the same end, success!

 If your skeptical, that's to be expected, ForeSight is a lot to grasp at first.  So keep on clicking, the best is yet to come...

...still not sure?  Click on the 'crowd' to do what everybody else is doing, and get your copy of ForeSight today!


Function List
ForeSight is separated in three main sections:

 Professional Real Estate Systems (PRES):  Incorporates all the global and setup functions including, user and password setup, STS transfers, contacts,  report generator and several calculators and worksheets.

Computer Loan Origination System (CLOs):  Complete loan application fill and database, evaluation, completion status and form print.

Professional Loan Evaluation System:   Extensive lender and loan product tables, loan views (for loan product search, sort and updating of product sub-lists), Property Finance Profiles, Up-desk Profiles and the world's most advance five loan evaluation piece.

click on a section for more information:


PRES
Professional Real Estate System (PRES) Features

•	Simple contact manager including quick letters, flyers and mailing labels.

•	Versatile report generator.  Create and save reports based on any table in the system.

•	Extensive import/export and archive functions, including user defined ASCII formats.

•	OS/2 tested

•	Five calculators and four worksheets accessible anywhere within PRES.

√	Government loan calculator

√	APR calculator, instantly calculate the APR on any loan in the master loan product table

√	Zip Code calculator

√	Date calculator

√	Standard calculator

√	Full financial worksheet (HP12C) with notes and save capability.

√	Pre-qualification worksheet.  All pertinent information can be transferred to the loan application if or when it becomes necessary.

√	Qualification worksheet. All pertinent information can be transferred to the loan application if or when it becomes necessary.

√	Loan Fit (reverse qualification logic). Scan the master loan list and create a view list of all loan that the selected individual can  qualify on.

PACTrust System

•	Create a CSA model in minutes using any loan from within the master loan table.

•	Create a PACTrust transaction and print all of the relative trust documents.

go to ForeSight Main

go to CLOS

go to PLES


CLOS
Computerized Loan Origination System (CLOS) Features

•	Enter, store and retrieve all standard real estate loan application information.

•	Data entry that utilizes full use of the mouse or keyboard to move to each field and screen in the application.

•	User defined 'drop down edit lists' and default information where applicable.

•	Consistency checks and math calculations during data entry.

•	Complete 1003 application printout including schedules.

•	Completion verification scans the application for any missing or empty application fields.

•	Qualify screens evaluates the borrowers qualifying strengths and weaknesses based on a selected loan from the master loan table.

•	Census Bureau table provides automatic notification if the borrower is buying property within the low or moderate income areas.

•	Complete application analysis with more than 100 quality control red flag criteria as defined by the user in the loan product's corresponding underwriting table.

go to ForeSight Main

go to PRES

go to PLES


PLES
Professional Loan Evaluation Systems (PLES) Features

Loan Manager

•	Complete database holding all pertinent lender and loan product information, including complete fixed, ARM and GPM  details.

•	Easy data entry with pull down lists and default field information added.

•	Fee tables can be created independently then attached to the appropriate loan programs.

•	Complete Index listing and modification capabilities and connectivity to the appropriate loan programs.

•	User defined underwriting criteria tables can be created and attached to the appropriate loan programs.

Loan Views

•	Complete indexing and retrieval of all loan data contained in the loan program table.

•	User defined filter criteria based on any field in the loan table.

•	Extensive filter criteria 'keywords' allowing for specific or narrow loan lists.

•	All predefined filters can be saved as 'Loan Views' for future retrieval and editing.

•	Sort view lists according to any field in the loan table.

•	Update loan products by record or include all loans listed in the view.

•	Update by replace or add (incremental editing).

•	Transfer (import / export) any view to any table filed defined by the user.

•	Evaluate loan views by retrieving them into Property Financing Profiles or Loan Compares.

•	Print out view lists and include any user defined combination of loan product information.

Property Financing Profiles

•	Evaluate any listing with four loans selected from a predefined view or the master loan table.

•	One page printout shows down payment, closing costs, monthly payment breakdown, monthly tax benefits, rental comparison, qualifying criteria and APR for each loan.

•	Save PFP information for future retrieval and edit.

•	Update all selected loans within a saved PFP with the master loan table at any time.

Updesk Financing Profiles

•	Evaluate any listing group (a group can contain any amount of listings associated with one broker, office or builder) with up to four loans selected from a predefined view or the master loan table.

•	The printout shows down payment, closing costs, monthly payment breakdown, monthly tax benefits, rental comparison, qualifying criteria and APR for each loan with each property.

•	These reports are used by brokers working the 'up-desk' in the office.  That is, answering phones calls of prospective home buyers.  The Updesk Financing Profiles help the broker answer questions about financing each individual property.

Loan Compares

•	Select any amount of months to month 600 and to 20 different comparison categories for up to 5 loans.

•	Accurate comparison considering all rate and payment changes as they occur for the life of the loan, including GPM's and interest only loans.

•	'What if' comparisons can be generated by user defined variable key factors including:

√	add any dollar amount to the monthly payment

√	increase the number of payments per month

√	random additional payments (principal payments)

√	variable index play for variable 'sub-term' periods

•	Variable length report will show results of selected compare criteria and highlight the 'lowest' value by showing the difference of the results in the competing loans.

•	Save compare information for future retrieval and edit.

•	Update all selected loans within a saved compare with the master loan table at any time.

go to ForeSight

go to PRES

go to CLOS


rap
scroll down to return

Maybe the most significant contributor to the success of ForeSight is the knowledge and experience it contains of both the loan and programming worlds.  ForeSight was not a collaboration or joint effort between loan and programming industry experts.  Although this is the standard approach for this type of project,  important features and functionality can fall through the cracks.  Similar to business negotiations that often fail when they must be mediated by an interpreter.  ForeSight was written in a native langauge I now call LoanTech.  As you can see, my background is a course study in becoming the first ever, LoanTech Master!

1981-1983:

Loan:	Finance Manager, acquired and sold retail sales contracts

Tech: 	First introduced and operated credit terminals

1983-1985:

Loan:	Consumer Finance, Manager and Partner

Tech:	Began programming credit terminals, first introduced to the IBM PC, became fluent in all PC operations including spreadsheet, wordprocessor and batch file macros.  Also started light Basic programming.

1985-1987:

Loan:	Mortgage Sales and Loan Office Management for Conventional, Jumbo and Government loan Products

Tech:	Introduced to network applicaton objectives, programmed several database applications for loan office (and loan officer) solutions.  Introduced to Pascal programming.

1988-1989:

Loan:	Senior Loan Officer

Tech:	Utilized and perfected all of my accumulated knowledge of systems/ programming and applied it to enhance my personal effectiveness as a loan officer.  SIGNIFICANT NOTE:  Within (the last) six months of 1988 I personally closed more than $17 million in loans.  In 1989 I personally originated more than $52 million in retail loan production and funded more than $37 million!

1990-Present

Loan:	Began to research and develop finance programs for the real estate community.  Consulted to the loan industry on loan sales and loan office systems.

Tech:	Introduced to Object Oriented Programming (OOP) for developing programs in Windows (this method was much simpler and quicker to assemble than procedural languages, however, it was severly limited in scope, and the finished product was very slow and bulky).  1991 began work on ForeSight 1.0 (formally know as PRES 1.0) by formally pulling together the many smaller apps I had written in the past.

By 1993 OOP had made considerable leaps forward, improving both the capability and depth of the language and speed of the runtime product.  In addition, a large national lender purchased version 1.0 and wanted a version 2.  Both of these events lead to the (beginning of) development of ForeSight 2.0. in September, 1993.

click here to return


Order
Are you ready to try ForeSight for yourself?

You can have a complete working copy of ForeSight for only $45.  This trial copy will come with a diskette key good for thirty days of use.  This package will include 5 installation diskettes and a 250 page user guide.

System Requirements

♠	386/25 Processor (486/33 recommended)

♠	compatible math co-processor

♠	6MB RAM (8MB recommended)

♠	17MB of hard drive space (full version)

♠	Windows 3.1x

How To Order

EMAIL, Fax or phone the following information:

Your Name

Your Address, City, State Zip

Your EMAIL address

Your Name as it appears on your credit card

Mastercard / VISA number

Credit card expiration

VIA:

♣	Compuserve: 70650,2311

♣	AmericaOnLine: ForeSight1

♣	Internet: rap1@ix.netcom.com

♣	Fax to: 310-328-6162

♣	Phone in to:  800-621-6162

Or mail information, with check or money order to:

Professional Real Estate Systems

2015 Plaza Del Amo

Box B

Torrance,  CA 90501