RealEC Technologies helps create order in the electronic mortgage insurance field.RealEC Technologies, the leading provider of Supply Chain Technology to the mortgage industry, announced the release of a new software solution designed to manage Mortgage Insurance ordering. RealEC's newest product offering incorporates several new innovative features designed to fully automate To turn a set of manual steps into an operation that goes by itself. See automation. the allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as and electronic placement of Mortgage Insurance orders. RealEC's new Mortgage Insurance Tools include a set of Provider Qualification Tools through which the lender can define sophisticated business rules for mortgage insurance program qualification. Through these provider qualification rules, the lender can designate des·ig·nate tr.v. des·ig·nat·ed, des·ig·nat·ing, des·ig·nates 1. To indicate or specify; point out. 2. To give a name or title to; characterize. 3. which Mortgage Insurance company provides the optimal coverage for the specific loan program or loan criteria criteria (krītēr´ē  ),n. . The suite of tools from RealEC also ensures the lender that they will have access to Mortgage Insurance products even if one Mortgage Insurance Company is unavailable. RealEC's automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. tools can automatically re-route orders to ensure maximum availability. Additionally RealEC's Opportunity Cost Allocation Models allow the lender to further designate the allocation of Mortgage Insurance orders based upon the opportunity to receive an order, instead of the acceptance of an order. This model provides the lender a process by which they can reward their partners who have greater coverage or more flexible program requirements. |
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