Real estate software company MortgageCrunch has launched cloud-based loan origination software in beta form. The software is free while in beta, according to a company announcement.
MortgageCrunch allows users to create customizable reports comparing loan options side by side for borrowers. The comparisons include the loan amount, interest rate, term length, principal and interest payments, and mortgage insurance costs as well as potential net monthly savings compared to a borrower’s current mortgage, if refinancing.
"MortgageCrunch helps originators put the significant long-term impact of refinancing even at a slightly lower interest rate into perspective," said James Taylor, MortgageCrunch co-founder and managing partner, in a statement.
The software also allows originators to send loan analyses to their clients via email and store client profiles online.
Screenshot of sample MortgageCrunch report