Genesis 2000, Inc. Introduces New DOS Version of Loan Processing Software--New Enhancements Include Fax Module, Status-by-Phone, Remote Loan Transfer and Conversation Log--.CALABASAS, Calif.--(BUSINESS WIRE)-- March 13, 1995 -- Genesis 2000, Inc., a Calabasas, California-based provider of mortgage automation for lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in , announced the release of Version 9.0 for DOS of the Genesis 2000 Loan Processing System. This latest release includes several new modules and additions to the standard Loan Processing System: --The Fax Module lets users fax forms and documents from the Genesis 2000 Loan Processing System to any fax machine. --The Status-by-Phone Module works with the Fax Module to allow specified users to call into the system via touch-tone phone and receive up-to-the-minute document status by fax. --The Remote Loan Transfer Communications Program Software that manages the transmission of data between computers, typically via modem and the serial port. Such programs were very popular for connecting to BBSs before the Internet took off. enables users to easily transfer loans and files from one office to another. HMDA HMDA Hexamethylene Diamine (chemistry) HMDA Hitchhiker Motorized Door Assembly HMDA High Mobility DGM Assemblage HMDA Home Mortgage Disclosure Act of 1974 Reporting allows users to capture the required data from the Genesis 2000 Loan Processing System, create and submit a report to the appropriate regulatory agency regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. . The Conversation Log tracks all communication associated with a borrower and can be accessed by a hot-key from anywhere within the system. Trust Accounting maintains a trust account of borrower funds to be paid by the broker or lender. Accounting features include tracking individual borrower deposits and payments, making adjustments, reconciling bank statements and printing various reports. New forms for the preparation of Conventional, FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). , HMDA and VA loan packages. Homy hom·y adj. Variant of homey1. homy or esp US homey Adjective [homier, homiest] like a home; pleasant and cosy Adj. 1. Majd, Principal of Genesis 2000, Inc., commented: "Although Windows-based loan processing packages are becoming the standard, it is important that we do not abandon our DOS users. We have invested a lot of time and money in developing Version 9.0 so that DOS users will have a truly powerful system. We feel that this release strengthens our commitment to those institutions who have invested in DOS technology." The Genesis 2000 Loan Processing System automates the origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real , processing and tracking of conventional and government loans. By typing information into simple screen formats, users can prequalify applicants, calculate payments and print out a complete set of forms and amortization schedules. Other system features include: automatic APR APR See: Annual Percentage Rate calculation, tracking of all verifications, mail merge Printing customized form letters. A common feature of a word processor, it uses a letter and a name and address list. In the letter, Dear A: Thank you for ordering B from our C store..., A, B and C are merge points into which data are inserted from the list. and printing inventory reports. A built-in word processor enables users to create form letters and other custom documents with data integrated from loan documents. Designed as a non-proprietary mortgage automation solution, the Loan Processing System is written in a relational database relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. language and can easily customize to any lending institution's operations. The company will release a Windows version of the Loan Processing System by the end of the second quarter. Genesis 2000, Inc. is a Calabasas, California-based provider of mortgage automation software for lending institutions of all sizes. Founded in 1986 by Fred Myer, Genesis 2000 offers mortgage lenders a variety of user-friendly loan processing and tracking products. Today, the company has 2,500 installations with more than 6,000 users nationwide. For more information about Genesis 2000, Inc. or any of its products, contact Homy Majd, Principal, at 5000 North Parkway Calabasas, Suite 300, Calabasas, CA 91302, or call (800) 882-0504. CONTACT: Genesis 2000, Inc., Calabasas Homy Majd, (800) 882-0504 |
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