Products > RL2 Systems

Residential Loan Lending System (RL2Sys)

Introduction & System Overview

Residential Loan Lending System (RL2Sys) from Nexus Software Solutions, Inc. is a client server system that automates all functions inherent to the loan origination process. Lenders with high production volumes, sophisticated system needs, and diverse operations will find that RL2Sys performs as it was intended to be accurate, fast and versatile.

Origination Engine

The Origination Engine module accelerates the collection of information to process and approve a loan. It minimizes data entry and eliminates many steps, while providing management reports to proactively control the entire process.

  1. The user has complete control of the input screen sequence for adding new loans.
  2. The system produces loan disclosures (Truth-In-Lending, Good Faith Estimate of Settlement Costs, Variable Rate Disclosures) for immediate borrower signature, with accurate calculations based on lender and program specific parameters. Fees may be automatically generated based on specific loan characteristics.
  3. As information is entered in the system, it carries forward so that it does not have to be re-entered for underwriting, closing, funding, shipping, or secondary marketing.
  4. The Loan Application (1003) follows the layout of the Uniform Residential Loan Application Form, allowing the loan originator to take the application in sequence or go directly to different sections.
  5. Complete and accurate calculations for government loans.
  6. Access to third party service providers for credit, flood, MI or various AU engines is available.
  7. Verifications printed on the system are coded with a barcode number that enables a data entry person to go directly to the input screen to log the returned verification.
  8. Detailed processing reports can be run sorted by processor or loan officer (individually or group) to show all items required for a loan, only outstanding items, only received items, or only overdue items.
  9. Status update letters can be automatically generated for individual borrowers, as well as mass-produced for the loan source, listing realtor, or selling realtor.
  10. System controls can be used to allow loans to be entered on the system but not locked, prohibit changes to locked loans except on limited access screens, and not store loans when certain minimum input requirements have not been met.

Underwriting Engine

  1. Underwriters can view application and verified loan information on screen. They can evaluate and update application information and indicate allowable income, assets and liabilities for ratios when completing underwriter worksheets and the 1008/MCAW/VA Loan Analysis. Follow-up and approval letters can be produced by the system based on outstanding conditions.

  2. Underwriting conditions can be predefined on the system and may be automatically generated based on specific loan information, selected by the underwriter from a pop-up window, or manually entered for individual loans. Optional embedded interfaces to FannieMae Desktop Underwriter and Freddie Mac Loan Prospector will be available as well as the proprietary RL2Sys Decisioning engine.

Closing Engine

Closing Engine is powerful and flexible document printing capabilities and includes a library of industry standard laser closing documents.


Closing Engine features include:

  1. Several options for printing closing documents.
  2. The ability to send documents electronically to remote locations via e-mail in a compressed format.
  3. A list of required closing documents for an individual loan can be generated based on such factors as loan program, loan amount range, loan type, property state, property type, occupancy type, purchase or refinance, and cash out.
  4. Predefined schedules of documents can be associated with an individual loan program or selected based on different factors.
  5. Documents can be added or deleted from these schedules for an individual loan.
  6. Documents can be manually selected to print for an individual loan.
  7. In addition to standard system closing documents, lenders can add state specific or other custom documents through VMPTM's I-32 or Greatland's PowerMerge tools.
  8. Additional documents can also be customized by MortgageFlex Systems.
  9. The ability to fax documents via integrated fax services.
  10. Underwriting conditions can be viewed from the Document Preparation module to ensure that all conditions have been cleared prior to closing.
  11. Closing documents can be drawn in multiple lenders names.
  12. Complete Aggregate Escrow Accounting Analysis.
  13. A loan audit feature to verify that all needed information has been entered prior to closing/funding.

Funding Engine

RL2Sys contains a full-featured loan Funding Engine module that provides the user with the ability to track all loan-related transactions from application through closing and funding. Funding features include:

  1. The ability to record deposits received from the borrower or seller and apply those deposits to individual HUD-1 line items for disclosure and disbursement.
  2. The versatility to assign separate general ledger account sets to different types of loans and, by funding those loans in RL2Sys Production, create balanced, detailed and accurate transactions for each loan, each deposit received, and each check or wire transfer generated.
  3. Disbursements, from net funding to miscellaneous fees, can be easily and efficiently generated from information drawn from the Processing and Document preparation modules.
  4. Vendors are selected from previously created set-up files for controlling unauthorized disbursements.
  5. Cash is accurately controlled and tracked throughout the lending process and various reports are available for reconciliation as frequently as the user chooses.
  6. A standard general ledger output file can be created for uploading to a general ledger accounting system.
  7. The user can define exactly how much control to exert upon individual users from a user-friendly, Funding Parameters input screen.