Technology

Technology Overview

I. SYSTEM DESIGN AND STRUCTURE

MIS has designed its systems for maximum flexibility and productivity by storing all data in SQL databases with the data being accessible primarily through various web-based applications both for customers and for internal processors. The internal systems are combined into a suite of integrated applications known as “ProductionLink™” and the customer applications are grouped under the name of “MIS Direct™”. These systems are internally developed and are proprietary to MIS. MIS also integrates several purchased software applications with its ProductionLink™ program to enhance its productive capabilities. The web interface for all MIS systems means that customers do not have to install any software locally to access the capabilities of MIS Direct™ and it also allows the ProductionLink™ system to be accessed by authorized users from anywhere using a web browser. Due to the flexible design of these systems, MIS is able to offer customers a full interface with their systems as well as a complete range of custom reporting options.

The loan origination business and the settlement services industry which serves it have historically relied heavily on paper files and documentation to support them. The industry is quickly moving into the paperless era where electronic mortgages and paperless filing of documents will become the norm. Approximately 50 jurisdictions in the United States accept documents for filing in electronic formats. MIS has designed its systems to embrace the electronic flow of information, increase its internal productivity, improve its customer service and prepare for the advent of the electronic mortgage loan transaction.

II. SYSTEM FEATURES

Customer Tools and Integrations

Portal Integrations: MIS has the highest level of integration with many vendor portals including RealEC, Point/Calyx, VMC Select, Ellie Mae, Dynatek and others.

Direct Integrations: MIS has bi-directional integrations with various customers using XML data transfers and web pages integrated into the lenders’ loan origination systems. These integrations are used for both title and appraisal products and facilitate the transfer of order information, status and task completion, confirmations and reports. This allows MIS to receive orders directly from the customer’s system and send reports and data back to the lender’s system which can populate the lender’s database so that the data can be used in originating the loan, preparing loan documents or in future marketing or compliance programs. MIS also sets up a custom XML interface to send notifications of those events which are important to the customer in the processing of an order. MIS is able to interface directly to any customer system through the use of these XML data transfers and MIS believes that it was the first settlement services organization to utilize a full XML interface solution for customers.

Work In Progress Reporting: MIS has made available to its customers a web based reporting tool which allows the monitoring of customer defined order process events and information directly from the MIS ProductionLink™ system. Use of this tool allows customers to be informed of all activities related to their file, including delivery of commitment, receipt of documents, completion of signing and filing of recordable documents as well as identifying any reasons for delays of progress on the order.

Workflow Tools

ImageLink™: MIS is piloting its new indexed, image management system which will replace the document imaging system which has been in service since 1997. The existing document imaging system allows all paper files to be scanned for archival purposes and the paper files destroyed. ImageLink™ goes further by allowing all documents which come to MIS, regardless of format or method of transmission, to be indexed into the system and retained electronically as an original. Paper documents can be committed to ImageLink™ using an application running on a high speed scanning station while faxes, email attachments, and other electronic documents can be committed to ImageLink™ using a workstation application which has the same look and feel as the scanning station application. The indexing feature of ImageLink™ allows each document to be categorized properly so that it can immediately be used in the processing of the order which completely eliminates the need for any paper file. The ImageLink™ system also causes documents in customer viewable categories to be posted to the customer website in MIS Direct™ which allows the customer to access the documents related to each order as they are needed. Also, document categories which are identified as being needed by the lender can be automatically shared with that lender thus eliminating the need for processors to manually send the document. All MIS employees are equipped with dual monitors so that they can simultaneously access ImageLink™ documents and ProductionLink™ applications to quickly and accurately produce customer reports and clear title curative items. The document images are stored in the MIS central data center and a local cache of 60 days of documents is also maintained in each service center to speed retrieval times and reduce WAN usage.

Work Queues: The elimination of dependence on paper documentation in the processing of customer orders allows MIS to establish electronic work queues which trigger MIS processors to perform certain order tasks upon the receipt of a specific document or the completion of another task. The use of electronic queues eliminates almost all elapsed time between the various functions performed in the MIS service centers and allows MIS managers to eliminate bottlenecks and manage workflow in real time.

Integrated Vendor Management: MIS processors are able to assign tasks to outside vendors electronically through ProductionLink™. The system maintains vendor information and statistics including turn around times, prices and volume of business given to the vendor. This information allows MIS to direct its work to the vendor which exhibits the best performance in any given area. The system sets reminders to follow up on pending jobs and interfaces directly to the accounting system to minimize the time spent by an operator in processing the order.

Title Clearing Task Manager: All curative items can be managed using Task Manager so that the customer has the anticipated completion date for curative activities and is updated on any changes to that schedule. The information provided by Task Manager is used by the lender to plan borrower loan closing activities based on the progress of title clearing work. When a title commitment is delivered, a web page accessible only by the customer through MIS Direct™ will display the Schedule B items which need curative work and show the estimated time necessary to clear. This allows the customer to close with items that are not yet cleared if they will be cleared during the rescission period. The customer can also indicate on the web page whether they would like each item of curative work to be done by MIS or if they will undertake the work themselves so that each party can concentrate on the assigned items and complete them in an expeditious manner. The MIS ProductionLink™ system allows the title clearing tasks to be listed with due dates and follow up notes which can appear on the customer web page as well. In addition, the system can be set up to notify the customer of any changes in the status or process of an order of which they wish to be notified. The notifications can be by email, postings to a message center or by event data sent directly to the customer’s loan origination system. The MIS operators are able to set task deadlines, include notes in each task, include emails as notes and set follow up reminders on items that have been requested in the curative process. This system allows MIS to automate all of the functions of title clearing in order to provide more timely and consistent title clearing results for our customers.

Customer Module and Pricing: The customer module in the MIS ProductionLink™ system holds all customer information including pricing schedules. An automated pricing system will use this information to quickly produce quote sheets and incorporate fees into the HUD which is available to customers online. MIS makes extensive use of XML interfaces internally to integrate purchased software applications into its ProductionLink™ and MIS Direct™ systems to provide fully customized solutions to information processing needs and customer service support.

Appraisal Processing Systems: The appraisal management system, (ACE), allows for the paperless review of appraisals prepared by MIS’ extensive fee panel of appraisers. ACE establishes work queues for the appraisal review staff and directs incoming appraisals to the queues to be processed. The reviewer is able to perform the review on screen using preset criteria, maintain notes and follow up tasks and keep track of corrections requested of appraisers. Once the appraisal has passed quality control checks, it can immediately be delivered electronically to the customer. The system also parses many of the data fields from appraisal forms and allows them to be sent to customers who are equipped to receive XML data transfers. All reports delivered to customers are also posted automatically to a customer viewable web page in MISDirect™.

Other Systems

Voice over IP (VoIP) Phone System: MIS employs a server-based VoIP phone system which allows the entire MIS organization to function as one office by routing voice traffic over the data lines which interconnect the MIS locations. Utilizing this system, a call to any MIS location can be transferred to any person in the MIS organization since everyone is an extension on the same system. This also allows for complete portability of telephone access through the use of configurations built into the VoIP system. The flexibility of this system also gives MIS the ability to customize voice access by customers so that they can contact their dedicated workgroup directly.

Business Continuation: MIS has a robust traditional disaster recovery plan which it continues to use. MIS believes that a disaster recovery plan is essential but that it is even more important to develop a structure which ensures business continuity thus reducing the effect of any single disaster on its operations. MIS is currently utilizing its ImageLink™ document management system and its browser based ProductionLink™ production system to ensure the complete portability of its production activities. This creates a situation where functions can be redistributed to the entire MIS network in the event that any MIS service center is disabled. MIS is also creating a distributed secondary processing system using servers located in its various service centers as a back up to its central data center located in Cleveland, OH. While the traditional approaches to disaster recovery and business continuation preserve the data and the operation of the applications, MIS believes that its approach is more robust in that it allows the functions to be moved to people who are available to perform them in the event one of its service centers is temporarily unable to support personnel.