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the biggest waste of our days were unproductive phone calls.After brainstorming ideas, the concept for EyeOnMyLoanwas developed. While our initial proto-type was createdspecifically for use among members of our individual team,we quickly realized how thissimple time saving solutioncould work for Loan Officerseverywhere.”

Business partners Tyler andDoug had gone through anextensive interview process andfinally chose to partner with asoftware development companycalled Vision 7 Software.Together the team formed a unique partnership calledBreakthrough Tools, and after undergoing considerabletesting and development,EyeOnMyLoan was introducedto the public in 2004.

EyeOnMyLoan allows LoanOfficers to manage their com-munications and thus, theirtime. By simply utilizing thebasic system, the time a LoanOfficer spends on the phone perday is dramatically reduced. Forexample, Let’s assume a typical

As the real estate market begins to slowly tighten its belt thefat of the mortgage industry will start to thin out. Those whoare not efficient and effective in their business processes willslowly find themselves at a competitive disadvantage. Formortgage professionals Tyler Ford and Doug Olson, whatwas at first a creative method by which they could betterspend their time and energy has now blossomed into a fullfledged business enterprise. EyeOnMyLoan was designedto save Loan Officers time while increasing business as wellas to foster quick and accurate information flow to the vari-ous parties involved in a loan transaction.

The simple but effective time saving solution developed bythese savvy business partners is called, EyeOnMyLoan.EyeOnMyLoan is a web-based breakthrough mortgagecommunication tool designed to reduce and in some caseseliminate the time-wasting processes inherent in a loantransaction while also facilitating real-time communicationamong every participant involved in the loan process. Whatused to consume a significant portion of a typical LoanOfficer’s day is now dramatically reduced through the imple-mentation of EyeOnMyLoan.

“The initial concept of EyeOnMyLoan was developed outof our sheer frustration in trying to keep every individualupdated about the status of a client’s loan on a daily andweekly basis. It seemed to us that by the close of every work-day we simply could not keep up with the vast number ofrequests for loan status. Furthermore, it has always been ourphilosophy that if an agent or borrower is calling us for a sta-tus update, than we (Loan Officers) are not doing our jobeffectively. To compound the situation, as we all know astatus call that should take only a few minutes mostoften turns into a much longer call which canquickly eat into your workday,” explains Tyler.

“If you add up the time it takes you to con-tact 2 to 3 individuals per loan per day, thetime spent simply shuffling informationupdates is incredible. After reading TimeTraps by Todd Duncan, we quickly realized that

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Continued on Page 7

loan officer originates 10 loans a month. Assuming the loanofficer makes 10 communication phone calls per transactionand there are 3 points of contact: borrower, selling agent,and listing agent. That’s 300 communication phone calls for

the month. If each phone callis 5 minutes that is 25 hoursper month, 300 hours peryear or 12 days per year offreed up time.The minute youstart using EyeOnMyLoanyou get a 12 day vacation forless than $250. That is thecheapest vacation you willever take!

However, by simply utilizingEyeOnMyLoan to provideinstant, daily up to dateinformation and loan statusto all parties, the LoanOfficer is able to maximizehis or her day while reducingthe overall stress involved inthe transaction, because allparties maintain continuouscommunication. Surprises atclosing become a thing of thepast, because all parties arewell aware of each step in theprocess and can ward off anypotential deal breaks well

before they become major issues.

“My team has been using EyeOnMyLoan for the past 2years and it has been an enormous asset to my business. Forthe first time, our clients, REALTOR® partners, and escrowofficers can stay up-to-date with loan status without relyingon numerous phone calls as we did in the past. In one step,the website allows us to send email notification of loan sta-tus to all parties involved in a transaction. These instant sta-tus updates have saved our team considerable time and ener-gy,” remarks Tony Poe of The Poe Mortgage Team.

“Additionally, by using the documents featured on the web-site, we are able to safely and efficiently distribute GoodFaith Estimates, appraisals, and Settlement Statements assoon as they are available. Since we began using the website,we have eliminated many mistakes by keeping all partiesupdated. For example, when an escrow officer receives a“loan documents sent” notification, but does not receiveactual loan documents shortly thereafter, they can alert usimmediately, and we can quickly correct the situation.”

“From a marketing perspective we appreciate the ability tokeep our team picture and contact information, along with ourREALTOR’S® information in front of our clients at all timesduring the transaction. EyeOnMyLoan displays our informa-tion from the moment our client logs on. My team and myREALTOR® partners know the importance of staying infront of our clients from beginning to end.”

“When introducing our team to new REALTORS®, we useEyeOnMyLoan as a highlight of the presentation to differ-

entiate ourselves from other mortgage companies.REALTORS® are always anxious to know how we

plan to stay in touch during the transaction andonce we start working together, they are hookedon EyeOnMyLoan. Most importantly, we havegenerated new referral business from listing

agents that were impressed with our ability tokeep everyone in touch during the loan process.

Continued on Page 13

By Christy Anderson

Breakthrough

Volume 95, 2006 | BrokerBanker

Previously, listing agents felt left in the dark, but withEyeOnMyLoan, we are able to provide them great serviceduring the transaction. Then, after funding, we are in a goodposition to ask for their business, and it works!”

While EyeOnMyLoan is an excellent resource to reduce thetime a Loan Officer spends relaying loan information, it isalso an excellent tool for engaging agents to enable them toassist the Loan Officer in obtaining information that isneeded to complete a loan package. For example,EyeOnMyLoan allows the Loan Officer to add notes to aparticular loan with permissions information as to who mayview these notes. In this way, the agent can participate inassisting the Loan Officer in obtaining all necessary infor-mation from borrowers such as pay stubs, W2’s, bank state-ments and the like.

It is often the case that a loan package submission to under-writing must be delayed because a borrower failed to supplythese types of documents, resulting in a negative impact onthe loan transaction. Many times this delay causes the agentto become frustrated with the Loan Officer, because theydon’t understand why the loan was not submitted on time.With EyeOnMyLoan, the agent is kept aware of any docu-ments that need to be obtained from the borrower so thatthey can ensure these documents get submitted quickly so asnot to delay the borrower’s closing.

Doug Olson and Tyler Ford Top producing Mortgage Team in Tucson, Arizona Tony Poe and Lyra Esser of Long Mortgage Comapany

EyeOnMyLoan offers two training methods for customers.The first is simply utilizing the site’s ‘web-tutorials’ that arestep-by-step instructions to educate the user on the naviga-tion of the system. When utilizing the product, a simpleclick of the mouse also allows the user to review specific web-tutorials on whatever process or step they are seeking tounderstand/review. The second option is a periodic webbased training class. This allows users a greater exchange ofinformation and ideas not only about the use of the product,but its various marketing ideas and options.

Some of the recent product enhancements for 2006 includethe addition of company based functionality that more accu-rately mimic the actual work process. Loan Officers can nowset rules for who within their organization can work on theirspecific loans, allowing multiple processors or junior loanofficers to access the system. In addition, the company hasenhanced the marketing features through the addition of a‘dynamic contacts’ function that enables users to increase thenumber of viewable contacts on their dashboard.

EyeOnMyLoan is unique from other products of its kind inthat it utilizes a global database by which agents in the data-base are visible to all Loan Officers. Agents are now a sim-ple drop down button away, rather than requiring the LoanOfficer to re-enter the agent’s individual data. In addition,agents need only log on once to see all of their transactions

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Vision 7 - Mike Hill, Steve Minor, Jason Green, Kevin Greer

regardless of which loan officer they are working with.

While the idea is simple, the results are simply amazing.EyeOnMyLoan has taken the idea of time management toan entirely new level, allowing agents, borrowers, and loanofficers to experience a smooth loan transaction every time.With a solid product and a vision for the future,EyeOnMyLoan is certain to be the wave of the future inmortgage communication. EyeOnMyLoan’s ability to solvea loan officer’s daily phone management challenges as well as

free up the loan officer’s time to originate more loans or takethe time saved and spend it with friends and family is a solu-tion any sensible loan originator would be ecstatic to receive.Although the product has only been on the market for twoyears, it is quickly gaining popularity and will continue toimprove and expand its services and outreach.

EyeOnMyLoan / BreakThroughTools, LLC.Tyler Ford and Doug Olson

888-803-9366 OfficeWebsite: www.breakthroughtools.comEmail: info@breakthroughtools.com