Due Diligence and Loan Review Support

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Andor Application Platform

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Due Diligence and Loan Review Support

Performing mortgage-related due diligence, audit, file review and data capture requires specialized and ultra-flexible information systems. Projects vary from in-depth, origination-style underwriting to straightforward document inventories and cursory data capture. Review scripts are constantly customized for various clients and loan product types. Lead time is short.


Until Scienna, there were no specialized due diligence software and attendant support services available, and prospective participants in these business lines were forced to dedicate substantial time, effort and funds into the development of a proprietary software platform to compete.


  • For new firms and companies in related space, such as staffing, this capital investment has represented a significant barrier to entry.
  • Even established due diligence firms have endured an on-going demand on company resources in order to stay competitive and, in some cases, have struggled to maintain outdated systems or faced onerous redevelopment.
  • Sophisticated loan purchasers with the in-house expertise to manage their own due diligence programs have been dependent on outside firms for lack of these tools.

  

Flexible Service and Licensing Structures

What if your company could outsource its back office loan review-related information technology needs? 


Or what if you could license a set of best-in-class yet easy-to-use software tools specifically created to support internet-based mortgage data collection, management and reporting, designed by an industry pioneer with over two decades’ experience?


What if you no longer had to fret over your technology, and could instead begin to compete almost immediately on the basis of your expertise and client service?


Please allow us to introduce ourselves. Scienna was established with these needs in mind. Scienna does not engage in staffing or file review. We support firms that do, in a number of ways. We provide extraordinarily agile software along with flexible service and licensing models.


  • Outsourced Solutions: For startup firms, new or experimental business lines, and “one-off” review projects, Scienna can serve as your due diligence information systems back-office. Our professionals can crack your tapes, customize your review scripts to your clients’ requirements, administer your systems and facilitate reporting and data export.
  • Fully Supported Solutions: Firms with proficient internal IT support can elect to host the database and end-user software on their own servers, but with Scienna’s full support.
  • Licensed Solutions: Established or experienced firms can choose to license the Scienna Support Suite, and manage their own projects, clients, users, scripts, forms, database – and even their business logic.

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Andor Application Platform

Scienna’s Andor application development framework provides a platform for creating secure and feature-rich internet-based software applications with incredible development speed and efficiency. Scienna’s core business-side experience lies in the mortgage arena, and many of the systems it has created with the platform support loan-related due diligence and file review activities. However, Andor is a general application development platform that can add value for enterprises in any industry that desire to create robust, internet-distributed applications for form-based data collection and administration, or to re-platform a legacy application – and do so quickly and at low cost.


Using proprietary rapid design technology, Scienna’s business support team can construct entirely new business systems without relying on the support of software programmers. System components such as new fields (columns) in the database, pull-down option tables and application business logic can be created directly from Excel-based specification templates. Subsequently, the systems are managed using the Scienna Support Suite of visual end-user tools, including Form Designer and Rule Manager


Database: Andor utilizes Microsoft SQL Server©. This database platform is robust, secure and widely supported, and is compatible with leading reporting tools. All application data, forms and logic are stored centrally on the server.


Front-end: A client-server interface offers multiple benefits over a purely browser-based approach for any internet-based application that is not intended for unauthenticated users, including a richer user experience, more control, and fewer compatibility problems. The look and feel of the interface is fully customizable. The platform features built-in multilingual and multicurrency support.


Multi-Project Interface: Upon login, each user will see all of the active projects to which his ID has been linked. The forms and business rules of these projects may vary greatly from one another. One project might entail a full mortgage underwriting, another a targeted data scrub, and a third a document inventory. Yet all of these projects are stored in a common database and are accessible through a single interface. Using Scienna’s Application Manager, it is a straightforward task to define and store templates for different products, review types, and client customizations.


Exception Management & Grading: Andor has a built-in facility to manage exceptions, issues and data validation tests, featuring exception-driven loan grading and complete historical tracking of exception creation, modification and resolution. Data values which trigger exceptions are color-coded in real time to indicate the level of the issue severity, as seen in the screen shot above.


Business Logic / Rules Engine: Common business logic is stored in SciennaRules!, the platform’s proprietary rules engine. SciennaRules! makes creating and maintaining business rules extremely quick and easy. The syntax is highly intuitive, and the logic of each rule can be viewed in ‘Code’ or ‘Plain Language’ view, offering increased transparency for non-technical application stakeholders. Data points and pick-list options can be quickly located by means of key word search, and are simply dragged and dropped into the expression builder.


Since SciennaRules! is an integrated component, it can directly manipulate the user interface to enable, hide or color-highlight fields and descriptions, whereas external engines can generally only calculate values in the back-end database. The rules tied to any field can be viewed from within the application. SciennaRules! is itself a database, so the rules and dependencies can be output to a document for easy reference. Both rules and forms are fully ‘versioned’, so that results will not change unexpectedly in completed projects and data records.


No bookkeeping or programming is required to track the relationships between rules and when each should be triggered. Scienna employs a proprietary optimization algorithm which ensures that relevant rules are always reapplied as required, in the proper order – and are never run redundantly.


The Scienna Support Suite: Scienna has a full set of visual tools and workstations to support the creation and management of applications, including a Form Designer, Rule Manager and Project/Script Management Facility.


Application Generation: Using proprietary tools, Scienna can create a complete and functioning user interface programmatically, bypassing man-months of costly and tedious UI construction. This can be done from a simple and easy-to-read specification document or, in many cases, directly from the source material of a legacy software application. The resulting system is “born” with all of its forms and fields in place, complete with option lists as desired, and a matching SQL Server database back-end. Fields are properly named, with appropriate data type (e.g. text, date, currency) and a variety of attributes (e.g. user-entry vs. calculated fields, text alignment, font attributes), and even mouse-over instructions and help.


Development and Licensing: Scienna can develop, host and maintain your application as a turn-key, out-sourced information technology service provider. You may alternatively elect to host the application on your own servers with Scienna’s development and support. If you want to fully manage your own system library, you can even license the Scienna Support Suite. Please contact us for more information or a demonstration.

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