Background
The business need for a leading mortgage funding company was an application that interfaced with Freddie Mac’s Loan Prospector system for automated mortgage loan submissions. There was a related need for automated generation of loan pricing and underwriting guidelines. Clutchpoint made major contributions in the architecture, design and database-development of the application, including writing key components of the guidelines generation, loan pricing and credit report server. The credit report server used X.12 EDI data exchange formats for communication with an external credit bureau. This application enabled automated loan submissions from mortgage sellers, allowing for real-time loan pricing and underwriting decisions, including real-time rate locks.

Architecture
The application was written in Visual Basic, with the database residing in SQL Server on an NT machine. The credit report server used a combination of SQL Server, Visual Basic server programs and EDI. Most of the business logic for underwriting guidelines generation and loan pricing resided in stored procedures running under SQL Server.