More News Articles
- Oct 25 2016, F. Trey Ordonez Joins Chronos Title Solutions as Arizona State Manager
- Oct 1 2016, Chronos Solutions expands services into performing loan market
- Oct 1 2016, Innovation Focus: Chronos Solutions
- Sep 6 2016, Chronos Solutions provides single platform for every service listed on HUD-1
- Aug 1 2016, HousingWire recognizes Chronos Solutions SVP, Asset Management and Portfolio Management Terri Hunter as one of its Women of Influence for 2016.
- Jul 29 2016, HUD program offers investors a discount on default properties
Perhaps it's time for us to talk.
Reach out right now to request more information about any of our services.
Sep 6 2016, Chronos Solutions provides single platform for every service listed on HUD-1
Funding Suite and Taxdoor offer efficiencies to save lenders time
By providing a one-stop shop for origination services, Chronos Solutions helps lenders streamline and simplify the mortgage origination process while significantly reducing the time, cost and risk associated with mortgage transactions.
Earlier this year, Chronos bolstered its family of products through the strategic acquisition of Cogent Road, which added Funding Suiteand Taxdoor to its offerings. The Funding Suite platform now serves as the backbone for Chronos Solutions’ Origination Source suite, providing a single platform for ordering and tracking all of the services listed on the HUD-1.
“While Chronos Solutions is a relatively young company, we are nimble and aggressive, and we respond to real-time problems with real-world solutions,” Chronos Solutions Executive Vice President of Business Development and Marketing Matt Slonaker said. “We pride ourselves on being large enough to execute on behalf of our clients, but small enough to care.”
Funding Suite enhances efficiency by providing real-time scoring analysis on every single credit file and simultaneously indicating ways to resolve data issues and enhance mortgage qualification capabilities.
Funding Suite also sorts derogatory items and tradelines by borrower and filters reports by bureau for advanced notes not shown by other credit reporting companies. The system also helps lenders manage costs by ensuring responsibility for individual and branch charges with detailed dashboard reporting and user rights management.
Unlike systems that provide paper credit reports, Funding Suite is both automated and integrated. Centrally managed and Internet-based, the Funding Suite platform reduces the likelihood of missing critical issues that could delay processing and also helps minimize buy-back risk.
“Because Funding Suite creates a centralized hub, the ordering process is more efficient, and reduces vendor touch points,” Slonaker said. “Another advantage of the single platform is the streamlining of service requests and delivery.”
With Funding Suites’ centralized storage repository, there is instant access to all loan-related data, and the robust reporting engine tracks orders and expenses at every level — from the enterprise through the region, branch, team and individual loan officer.
Funding Suite significantly enhances loan pull-through, enabling lenders to recover up to 15% of their initially declined applicants by identifying potential rescoring opportunities. It features visual business intelligence dashboards to keep lenders informed of the status of all verifications, rescoring orders and billing in real-time.
Easy-to-read graphs, charts and reports track credit-related expenses, facilitating cost containment and expense management. Graphs also enable lenders to track costs per applicant, open orders and produce invoices instantly on demand.
Taxdoor is unique because it automates the tax return request and submission process, cutting days and even weeks off the process. It also significantly reduces the amount of labor required on the lenders’ part.
With Taxdoor, mortgage originators, including brokers, direct lenders and their loan production personnel, can initiate the verification process instantaneously. It eliminates wondering if the applicant has taken the first step towards generating the signed 4506-T or if the form was filled out and signed correctly.
“Chronos Solutions has experienced exponential growth and we are blessed with tremendous customer loyalty because we listen to our customers and provide them with the exact solution they need, when and where they need it,” Slonaker said. “Our leadership team is obsessed with results and we’re continuously looking for new and better ways to add value for our customers by increasing their efficiency and enhancing their performance.”