2004 product updates
A number of changes to the most popular software system for mortgage packagers will soon be available in version 7.
The system is being completely redesigned and re-written as a Web based system. This will allow any authorised user who has a modern web browser* to obtain secure access the system from anywhere in the world. The system will use a full SQL database engine for scalability and reliability, and for the first time is now available on MacOS and Linux/Unix.***
Phase 1, scheduled for launch at the end of April 2004, will offer the full packaging system and Broker online update access. We anticipate a fully operational version to be on offer from late May 2004 (please note this is subject to change). Furthermore we will pre-install all your current data such as Brokers and Clients details if you currently use Version 6, though all lender details will be pre-entered anyway. Once launched, set up and start time can be a matter of only a few days depending on the location of the server. We can in some circumstances actually remotely install it to your own server.
Phase 2, scheduled for launch in July 2004, will offer electronic application submission based upon your generic application form for a fixed monthly fee per broker. Unlike some of our competitors who charge up to £18 per application, we will be charging a flat fee of £35 per month to include unlimited number of applications. The transmitted data will also be input directly into the packaging system at the touch of a button.
Phase 3, scheduled for launch in September 2004, will include a full compliance system to include "Reasons Why" documentation and statistical information by Broker. We intend to offer this as a White Label product should our Packagers user desire this. This Phase is designed to come into force when the application has been sourced and will produce a tailored fully code compliant illustration. It will also be able to produce all the statistics required by the compliance department in the accepted format.
All the development is being done in England, and the fileserver can be situated in your offices and will run on an industry-standard Unix system. We can also offer off-site server hosting if desired.
We anticipate that subject to acceptance by third party providers our Web system would be able to be integrated with Sourcing providers* and Valuation systems such as Quest*.
You will be able to email direct to clients and introducers any report or system produced document as a matter of course. In fact we can prompt the system to automatically email the introducer whenever anything is done on a case. There can also be auto fax facilities available for those brokers not able to receive email reports.
The system will store every document or letter ever issued on a case and will give a full audit trail.
Many of the functions so popular in the Windows based system will be incorporated as a matter of course in Version 7. You will however be getting so much more flexibility. We will be able to offer full on-line system support together with full on line upgrades and modifications. All this can usually be done without any down time.
Furthermore the system is form based and has the familiar look of its Windows counterpart.
The system also supports Royal Mail's PAF (Postcode Address File), allowing automatic address completion given a postcode and house number or building name.* This will be available on any address used anywhere in the system, including employers, lenders, security and client's addresses. Think of the time saved for this alone.
MPAK Version 6 is already the most widely used software for packagers offering a huge range of facilities including financial and accounting, fee payments, valuation reconciliation as well as all reference production. Version 7 however will be offered in a much more modular format allowing users to choose their requirements.
Reports can be linked to Crystal Reports*, the internationally recognised leader in database reporting, which will give users total freedom to create almost any report fro the data stored in the system.
* Subject to the acquisition of the providers' software
System requirements
* Unix server
* Web site
* Broadband Internet connection, or ISDN line where broadband service unavailable
* Windows 2000 or XP Professional on workstations**
** The mortgage packaging part of the system will run on any modern web browser such as Mozilla, Firefox or Internet Explorer, regardless of operating system (tested on Linux and MacOS X). However supporting applications such as fax and contact manager require Windows 2000/XP Professional.
*** Supported browsers are Mozilla, Firefox and Internet Explorer (Firefox recommended). Other browsers should work but we cannot provide support for them. Remote access is possible from any system with a compatible web browser. Local system requires Windows 2000/XP Professional on desktop systems (not compatible with XP Home).
Things to remember
* MPAK has been operating for 8 years and is the most highly developed system available.
* It is tried and tested and has over 135 users.
* All development and support is handled in the UK and on-line.
* The system was developed and is managed by people who not only know the market but also have done the job. This is the type of experience that makes the system's ease of use unrivalled.
Our costs of installation and support are very competitive and make the system viable to any size user. Each user will be charged a flat monthly fee to be paid by Direct Debit.
For Brokers using only the progress facility, neither broker nor packager will be charged.
Installation can normally be done within a few days.
For further information contact Chris Richards at chris@informaticadbs.com.