MBS ProClose Launches ProClose® Platinum Web Services

Doc Prep Maximizes LOS MISMO XML Output for Compliant Documents

MBS ProClose, a mortgage technology company dedicated to improving the closing experience for lenders and borrowers alike with fully compliant closing document packages, has launched its MISMO XML-native ProClose® Platinum Web Service. Governed by rules-based automation, ProClose Platinum delivers a perfect set of closing docs in PDF ready to print, e-deliver, or both, just seconds after the loan file is completed.

MBS ProClose and Calyx Software – the mortgage industry’s leading provider of loan marketing, originating and processing software – co-developed the network interface that allows users of Calyx Point to connect directly with ProClose Platinum Web Service at any time – real time. Calyx Point users who choose ProClose Platinum for doc prep experience the timesaving, accuracy improving benefits inherent to the pass-through of MISMO (the standardized data format instituted by the Mortgage Industry Standards Organization) XML data from a loan origination system (LOS) platform to a 3rd party service provider.

“As LOS systems work more collaboratively with doc preps the way Calyx does, they will come to understand that their export can easily include more existing data than is passed through via the current, standard ‘closing’ file,” said MBS ProClose president Christine Kirby. “When they accommodate a more complete MISMO XML pass-through, they will help create the ‘seamless’ experience that end-users deserve.”

Built with MISMO at its core, ProClose Platinum accommodates any MISMO XML transfer without a “data integration procedure,” eliminating tedious mapping exercises, discrepancies between program selections and incomplete pass-through of data from LOS to doc prep. Platinum’s built-in intelligence partners with the end-user LOS to enhance loan file data yielding “perfect” final XML data that will populate a perfect set of compliant closing documents. From there, the XML is easily transferred into post closing and servicing applications.

“MISMO XML has the potential to solve many of mortgage lenders’ greatest challenges if it is properly accommodated by all lending technology tools,” said Kirby. “MBS ProClose has made a significant investment in developing the Platinum Web Service because we believe that our role as an industry service provider is to serve the needs of mortgage lenders, not the other way around.”

About Mortgage Banking Systems, Inc.

Founded in 1987 and headquartered in McLean, VA, Mortgage Banking Systems, Inc. is a mortgage technology company dedicated to making the closing experience faster, easier, cheaper and safer for lenders and borrowers alike. Lenders are drawn to MBS for the products; they stay with MBS because of service. For more information about our products and services, visit the company’s Web site at www.proclose.com.

Contacts

For MBS ProClose
Depth Public Relations
Kerri S. Milam, 404-378-0850