Presentation3

							 Impact of Technology in
Rocky Mountain Mortgage
 Company (Construction)




             By
      Veronica Quiñonez
   In the past the Construction
           Department:
Loan Numbers were written in a
columnar pad.
Would type the Construction Loan
Request Approval sheet.
Manually calculate the weekly draws
given to each builder for each home.
Checks given to each builder would
by typed.
Clerks kept track of     After the inspector
the loan numbers with    returned with the
                         percentage of
columnar pads in         progress of each
which they would         home it was
write the next loan      calculated with the
number with the          loan amount and its
property address.        first draw. This
The clerk would have     would be manually
to type the builder      done in a 10-key
                         calculator.
name, loan number,
the property             After the amount was
                         calculated a check
addresses, sales         was typed out for
price, the current       each builder with the
loans for that builder   corresponding
in the Construction      information.
In the present the Construction
          Department:
 Loan numbers and property
 addresses are kept in Excel.
 The Construction Loan Request
 Approval Sheet is done in Word
 The progressing percentages of
 each home are imputed in Excel
 Check are printed in Solomon.
In an Excel             The progressing
spreadsheet it is       percentages of each
easier to keep track    home are imputed in
of the loan numbers     Excel where the draw
and property address.   amounts are
                        automatically
                        calculated with a
The Construction        formula.
Loan Request
Approval Sheet is
done in Word where it   The software
is linked with the      Solomon keeps all the
Excel spreadsheet       builder information
where the loan          where the only
number and property     information needed is
address are kept.       the draw amount and
Therefore, that         the check is printed
information is only     out.
In future the Construction Department
               plans to:
     Transfer all the information from Excel and
 Word into Access. This will allow it to keep the
 loan number automated, all the information in the
 Construction Loan Request Sheet will be used for
 draw purposes where the draw amounts will be
 calculated with formulas. This amounts will be
 exported to Solomon where the checks will be
 printed. This allow the department to have all
 their information in one program, which makes it
 easier to use and since information will have to be
 entered only once it will also be time efficient.