What is the EZtrackBanker Program?
What is required to become approved?
How long does it take?
How to apply
Do I have access to a Warehouse One facility?
What loan products are available through Sterling Eagle, SureStep's™ affiliate?
Is EZtrack a net branch operation?
Is EZtrack a "captive" program where I have to sell my loans to only one investor?
How does EZtrack lower the risk of becoming a banker?
Do I still have risk?
How does EZtrack underwrite loans to investor guidelines?
Is EZtrack available as a private label?
How do I monitor the loan process?
What services can EZtrack provide?
Is SureStep's™ technology available as a private label?
What are my costs?

What is the EZtrack Banker program?

EZtrack takes the risk out of transitioning from broker to banker. EZtrack combines access to a warehouse line, the back-office functions of underwriting, documenting, closing and post-closing, vendor management services and a mortgage purchase conduit, all of which are online, into one program. It performs all of these services in the name of its clients on a private-label basis and provides a warranty for all of the services it performs, making EZtrack the lowest risk means of making a broker to banker transition.>>Menu

What is required to become an approved EZtrack Banker?

The only requirements associated with our EZtrack program are:

1. you must be licensed (or eligible to be licensed) as a correspondent lender or mortgage banker in each jurisdiction in which you will be originating loans;
2. you should be eligible to be approved as a correspondent with at least one recognized secondary market investor;
3. you need to meet any criteria established by investors that you have selected to sell loans to;
4. you need a pipeline of loans (minimum of 10 units/month); and
5. you will need access to the Internet. >>Menu

How quickly can I become an approved EZtrack banker?

The approval process generally occurs within two-three weeks. There is also an implementation process to set up technology and the back office processes for your company with the guidelines of the investors and products that you anticipate that you will write loans to. This implementation process may take 30-60 days depending on which investors and products you have selected.>>Menu

How do I apply to become a EZtrack Banker?Do I have access to a WarehouseOne facility through EZtrack?

Yes, a WarehouseOne facility is part of the approval process. Moreover, your company can grow faster as a EZtrack banker because the warehouse facility is designed to grow with you.>>Menu

What loan products are available through Sterling Eagle, SureStep's™ affiliated purchase conduit?

The Sterling Eagle mortgage purchase conduit offers a broad selection of loan product on a competitive rate basis to EZtrack clients. These products include conforming, non-conforming, alt-A, subprime, home equity and second mortgage loans. Pricing should be competitive with the larger investors given SureStep's™ aggregate loan volume and representations and warranties that wrap each loan manufactured by EZtrack, both of which translate into premium pricing.>>Menu

Is EZtrack a net branch operation?

No! EZtrack permits you to operate as an independent mortgage banker. You control all aspects of your operation but use SureStep's™ fulfillment services to underwrite, document, close and post-close loans.>>Menu

Is EZtrack a "captive" program where I have to sell my loans to only one investor?

No! You may sell loans to any eligible investor for whom you are an approved correspondent. EZtrack does not compete with you in the primary market because we do not originate any loans. Similarly, we do not compete with your investors in the secondary market because we do not portfolio any loans except during the period of time the loan is in the warehouse .>>Menu

How does EZtrack lower the risk of becoming a banker?

EZtrack provides a seamless process that is integrated with vendors and document preparation firms, resulting in higher quality loan files, an automated tracking system for all loan documents and a warranty for all of the services that it performs, the most significant of which is an underwriting warranty that eliminates most of the repurchase obligation associated with selling loans to investors. Managers have access to electronic files to check on the status of all loans on a real time basis.>>Menu

Do I still have any risk if I become a EZtrack Banker?

Yes. You will still have the same risks that you incurred as a mortgage broker or banker to the extent of the functions you are performing. For those functions that EZtrack is performing, you are not generally subject to any aditional risk. EZtrack does not indemnify your company from fraudulent acts of your employees, vendors or borrowers. You will incur some other risks associated with functioning as a mortgage banker, such as the legal risk of being in the chain of title, interest rate risk if you miss lock periods or did not lock the loan with your investor and secondary market risk if your investor changes programs or pricing without warning.>>Menu

How does EZtrack underwrite loans to my investor's guidelines?

EZtrack utilizes rules-based application software that incorporates investor products and program guidelines in its decision engine. Our systems also integrate digitally with many of the industry's vendors to incorporate credit, appraisal, title and other data elements along with images. The data then automatically populates our application software and in many cases updates progress with respect to these vendor services as additional information becomes available. Some of this data access may also be underwriting findings from various AUS engines used in the industry. The application software is a tool used by our knowledgeable, experienced staff. >>Menu

Does EZtrack perform all of these functions on a private label basis?

Yes. Your company will be provided with an 800 number answered in your company's name. All communications with any customer or third-party are accomplished in your company's name and all documents and forms are produced in your company's name. EZtrack can even provide private-label web sites for retail or wholesale origination activity that is integrated with our EZtrack program.>>Menu

How do I monitor the manufacturing process on loans submitted through EZtrack? I am concerned that I won't have enough information to service my customers

Through EZtrack, you, or any one you permit, will have access to more real time information than you have now from your own operation. Because EZtrack creates a 100% electronic file as the loan is manufactured, you have access to all of the loan file information, inluding all document images, notes to the file, underwriting conditions and clearances, vendor information and much, much more right over the Internet in real time. If you would like to see how EZtrack works right from your own office, just ask your WarehouseOne Relationship Manager for an invitation to participate in a EZtrack demonstration. >>Menu

What services can EZtrack provide?

EZtrack is capable of providing an end-to-end solution, meaning from call center right through post-closing. However, you do not have to use all of EZtrack's services. Most EZtrack bankers will either enter the process at 1) the application stage: having EZtrack process, underwrite, document, close, fund and post-close the loan; or 2) the "full package" stage when the loan package has been prepared for underwriting. EZtrack will then underwrite, document, close, fund and post-close the loan.>>Menu

Is SureStep's™ technolgy available on a private-label basis?

Yes, EZtrack will license its technology and create private label websites for its clients to include a wholesale or point of sale system for loan officers or brokers and a retail web site for customers to access. The wholesale site can tier pricing based on the user's logon. Loans can be manually entered or uploaded from most loan origination software applications. >>Menu

What costs are associated with EZtrack?

EZtrack charges an implementation fee that is based on the sevices selected and a per loan fee for each loan processed through the EZtrack program. An implementation fee is charged to offset the cost of setting a new client up on its systems, publish private-label client web sites and phone numbers and correlate investor and product guidelines. Loan-by-loan costs associated with EZtrack are conditioned on where you enter the EZtrack process flow. You will have to speak with our Implementation Team to detemine precise costs but you should expect to pay around $450-$500 for each loan submitted at the "full package" or underwriting stage and about twice that if EZtrack is assisting with the application and processing the loan. EZtrack may also require a minimum monthly loan submission commitment.

Some of the benefits of the EZtrack program are objective and can be measured in terms of lower costs or higher revenue and some are more subjective. The EZtrack program creates a variable-cost back office infrastructure, makes available technology that many of the largest lenders do not have and provides a warranty that eliminates most of the repurchase risk associated with operating as a corrspondent lender or banker. How valuable is the access to technology and elimination of risks covered by the warranty? More importantly, how valuable is a program that can help you provide superior and efficient service to your customers that translates into repeat and referral business. For a more complete listing of the benefits of the EZtrack program, please see the "Benefits" page on this site.>>Menu