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LION AU

"The power of the Internet, Desktop Originator and Desktop Underwriter combined is truly outstanding!"
-William R. Starkey, Jr., president of Sunbelt National Mortgage

The mortgage industry is undergoing a profound change in the way that it does business. Many experts are predicting that 25% of all mortgage loan applications will follow an electronic process, not a paper process, within three years.

There are two major factors that are accelerating the electronic process in the mortgage industry: the Internet and ?Automated Underwriting.?

The Electronic Process: The electronic submission of mortgage loans first requires the completion and submission of an ?electronic 1003,? (Residential Loan Application). LION has developed an electronic 1003 and a ?1003 Manager,? which is fully integrative with the top-four Loan Origination Software (LOS) used by brokers, so that 1003-data does not have to be entered twice. After LION?s electronic 1003 information has been populated (by making a few ?clicks? to import or export data from his LOS), a broker can use LION-AU.com to send this information to a specific lender or other financial institutions.

The financial entity receiving the 1003 information, electronically scans it, quickly determines if it meets the lender?s guidelines, and within minutes reaches an electronic decision on whether or not to underwrite the loan. The last part of this electronic process is called ?automated underwriting,? or ?AU? for short. The ?findings? of AU (?loan accepted?) are sent back to the broker within minutes of submitting the loan.

LION-AU.com LION-AU.com gives brokers the choice of where to electronically submit loans. To inaugurate LION-AU, LION formed a partnership with Fannie Mae. Because of this partnership, any broker can access Fannie Mae through http://www.lioninc.com/desktoporiginator to get their loans electronically underwritten through the Internet, using Fannie Mae?s Desktop Originator. Using the Internet avoids line charges associated with private networks, and LION?s electronic 1003 is easy to use, fully interactive and secure.

LION?s subscribing brokers can use LION-AU.com to electronically send loan applications for Fannie Mae underwriting, and receive a decision within minutes. Longer-term, LION will be working with other lenders and GSEs in order to provide our subscribing brokers with many AU choices. In the future, our brokers will be able to easily send mortgage loan applications electronically to any number of lenders or GSEs for fast, electronic approval.

LION-AU gives brokers the technology they need to easily assemble borrower information (populate electronic 1003s), navigate the Internet, and submit loans for electronic approval. Through a few clicks of the mouse, loan approvals, which used to take days, will take place in a matter of minutes. The result? More loans approved faster.

LION is busy building a company for the broker of the future. In this future, a subscribing mortgage broker will meet with his customer who is seeking a home loan, and with a few keystrokes, use LION?s huge home loan data base to find the best loan for his customer and, through LION-AU, instantaneously submit the loan for approval?all within minutes. This is LION?s vision of the future: Real Point of Sale. And this opportunity is available to brokers now! LION is busy making the future happen today.

For more information on LION AU initiatives, business inquiries, or other information about lionau.com, please contact us at info@lionau.com

Fannie Mae Desktop Originator is now available through the Internet. No more dialup MornetPLUS line charges and if you use Calyx POINT, BYTE TQS, or Genesis2000, you can upload borrower files directly from your LOS for AU underwriting.
For more information visit the Desktop Originator Center at http://www.lioninc.com
/desktoporiginator.

To Register for Lender Workbench: Contact Paul Eckert 253-858-8955 x 296