Mortgage API Overview

The QBO Mortgage module manages mortgage-specific data, comprising:

ClassName	Description
Loan	Manage loan data. Child of Property. Based on the MISMO standard.
Property	Manage property data. Based on the MISMO standard.
Borrower	Manage borrower data. Derives from Contact.
ArmTerm	Manage interest rate adjustment data.
Auction	Manage foreclosure auctions. Derives from Process.
Bankruptcy	Manage bankruptcy data. Derives from Process.
BidAtSale	Manage bids at foreclosure sale. Derives from Process.
CashForKeys	Manage cash for keys processes. Derives from Process.
Closing	Manage real estate closing processes. Derives from Process.
Deficiency	Manage deficiency judgement processes. Derives from Process.
Eviction	Manage eviction processes. Derives from Process.
Foreclosure	Manage foreclosure data. Derives from Process.
Listing	Manage listing (MLS) data.
Litigation	Manage litigation data. Derives from Process.
LoanTransaction	Manage mortgage chain of assignment data.
Offer	Manage offer/counter-offer data.
PublicRecord	Manage public record data, including liens, deed and other such ownership information.
REO	Manage real estate owned data. Derives from Process.
Title	Manage title data. Derives from Process.
Valuation	Manage valuation data. Derives from Process.
ValuationComparable	Manage valuation comparable data.
ValuationProjection	Manage calculated valuation data.

There are several concepts that users of large servicing systems should be aware of when considering using QBO:

• QBO typically tracks over 10,000 data points for a complex loan. Servicing systems usually track less than 1,000.
• Multiple processes can occur simultaneously
  • A DeedInLieu and Foreclosure process can run in parallel ("carrot and the stick")
  • Multiple bankruptcies can be active simultaneously (a formerly married couple files bankruptcy separately)
• Each process can have it's own status, workflow, notes, work lists, tasks, etc.
  • No need to limit a Loan's status to 3 possible values; if you have 17 processes, they can each have a status contributing to the loan
• Workflow from one process can affect another process. For example, an MFR Granted step in a Bankruptcy can trigger a Foreclosure to come off hold.

Servicing System Integration

QBO is typically configured to cache data in the QBO database, rather than reading from a servicing system in real time. Such integration typically involves 4 layers:

1. A nightly batch transfer of servicing system data from a corporate data warehouse to QBO for ingestion
2. A real-time read of servicing system data for time-critical tasks (e.g. viewing posted payments)
3. A real-time write of servicing system data for time-critical tasks (e.g. activating a foreclosure)
4. A batch transfer of QBO data to a corporate data warehouse, and possible servicing system