Contour Software, a provider of mortgage loan software systems, has announced the release of a new option to its Web hosting service, the Infomortgage Highway.
This option, called Web Reporter, enables lenders to post any information on a loan file to their password-protected Web site. The information can be updated as often as the lender desires, and only people with security clearance can view it.
Borrowers, realty agents, builders, managers, and loan officers can now check on the status or details of a loan anytime by visiting the lender's Web site.
The feature eliminates the cost of relaying information between parties to the loan transaction, said Scott Cooley, president of Contour Software. "Now mortgage companies can increase their perceived service level and reduce their costs at the same time for just $1 per loan per month," he added.