BANKING / FINANCE
Compiled by James S. Granelli, Times staff writer
Many mortgage companies have been using computers to help them keep up with rates that various institutions offer, but operators of Newport Pacific Funding Corp. in Newport Beach believe that they are one of the few to have the latest system for helping home buyers pick a loan.
Newport Pacific’s computer programming allows its loan officers to compare the details of up to five different loan packages at one time. Any number of variables, like down payments and monthly income, can be plugged into the equation, a company spokeswoman said.
Few mortgage firms offer such elaborate computer services, industry sources said.
