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Mortgage Management System

Mortgage Management System. Kyle Hertel Tony Meteiver Andrei Vajiac. Background Information. Martha Stockton Greengage foundation has $2.3 billion for use with home mortgages The money is meant to be used for young couples wishing to purchase a home

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Mortgage Management System

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  1. Mortgage Management System Kyle Hertel Tony Meteiver Andrei Vajiac

  2. Background Information • Martha Stockton Greengage foundation has $2.3 billion for use with home mortgages • The money is meant to be used for young couples wishing to purchase a home • The implementation of a computer system to handle these mortgages is requested • Simplify the loan application process • Reduce operating costs

  3. Project Summary The main idea was to create a database to store user account information, and allow access to that database by both customers and employees of the foundation’s “bank” This results in two slightly different access schemes for the database.

  4. User Access Details Client Side Employee Side Has ability to access any account and modify information therein User lookup available by name or SSN Can create a new loan application to see if a potential customer meets mortgage requirements • Ability to log into the database and see one’s own account • Ability to make payments • Can see amount and due date of next payment • Amount currently owed • View previous payments

  5. Account Information • The account will contain user information, including: • Name, SSN, account number, birthdate, sex, address • Total loan amount approved • Current loan balance, amount of next payment and due date • All monetary values broken up into interest and principal (if applicable) • Number of payments left, APR, fee information • How many payments have been late, if current payment was made on time (bank only)

  6. New Customer Application • Personal information must be collected • A credit check is performed to decide APR • Loan amount checked against money remaining in foundation • Potential borrower’s income, as well as money down taken into account • Applicants accepted or rejected on a personal basis

  7. Implementation • We wish to create a Graphical User Interface from which both employees and clients can access their accounts (written using Java) • The design needs to be simple, clean, and efficient • The database will use an efficient sorting algorithm for quick data entry and retrieval • Cross platform compatibility • Project design specifications subject to change with respect to changing environment and design constraints

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