Market Analysis: Tim Anderson Looks To Shake Things Up

*Tim Anderson Looks To Shake Things Up*
**By Tony Garritano**

***I am very proud to call Tim Anderson a friend. When I started in this industry as a little pup, he helped me. He took me under his care and showed me the lay of the land. I am very grateful for all the time and effort that he put into guiding me so that I could really understand the space. His friendship is invaluable to me. So, when he told me that he was no longer at LPS I was eager find out where he went and what he would do next. I can tell you, based on my talk with him, Tim Anderson is ready to shake up this space like only he can. Here’s the scoop:

****ISGN Corporation, a provider of end-to-end technology solutions and services to the U.S. mortgage industry, has named Tim Anderson director of corporate technology strategy. Anderson brings more than 30 years of mortgage industry and technology experience to ISGN, where he’ll develop a strategic roadmap for ISGN’s delivery of products, services and technology, helping position the company as the leading driver of solutions in the mortgage marketplace.

****When ISGN started it made a lot of high-profile acquisitions of companies like MortgageHub, Dynatek, London Bridge and others. However, recently we haven’t heard too much from ISGN. Tim Anderson explains, “The company has been laying low. They have a much fuller offering in terms of technology and outsourcing services as compare to our competition. We at ISGN want to address any pain points that our clients have. For example, the client may want to automate underwriting so we can start there and stretch out as they need us to fill future gasps. Some companies are offering technology or outsourcing, but we do both. I’ve been tasked to look at their technology here at ISGN and plan for the future in terms of automating the mortgage process. I will be incorporating technology strategy into their outsource offerings.”

****Anderson has been involved in all facets of the mortgage industry during his career, most recently on the technology side where he helped to develop one of the first e-mortgage platforms, and e-signature and e-vaulting technologies. At ISGN, Anderson will lead efforts to define the company’s technology strategy, enabling ISGN to create next generation products and services that take advantage of evolving web-based cloud technology.

****So, given his long tenure in our space, I asked my friend Tim what his true vision for the future of the mortgage space really was. He said, “The market has changed. The big guys have gone internal to defend themselves against lawsuits on the servicing side. So, I think there will be new entrants that come in with a new approach. These new players will not be mired down with legacy technologies. We’ll also see old players attack the market place with a new approach. ISGN is actively looking to partner with these players to streamline this market.

****“We want to eliminate manual touch points, increase loan quality and maintain compliance,” Anderson stressed. “You have to quit attaching the process piecemeal. We’ve got to move the orchestration of the mortgage process to the cloud. You need to call needed systems through the cloud to perform necessary functions and workflow. Dynatek had a comprehensive plug-in network that we will utilize, but our cloud approach will also interface to other systems through our cloud approach.”

****Anderson sees a more on-demand environment where the client calls the shots, not the LOS. “The client can determine the user interface that they want and we can orchestrate all that for them. It will be a shared and common system. It’ll all be about execution and how we deliver for our clients. The standard outsourcing service level agreements are based on metrics and performance. We will apply that same philosophy to technology. The only way to execute and scale is to automate. In a people-based process you’re only as good as the last person in that role, but there is always turnover. The way to fix that is to automate. There will always be competition for the best producers so you will never have 100% of those good producers 100% of the time. If you can automate and replicate that process you will be much better off, especially when you get audited.”

****Prior to joining ISGN, Anderson served as senior vice president of Lender Processing Services (LPS), and before that as president of SigniaDocs, Inc., where he was involved in the development of e-commerce mortgage products and services. Previously he was vice president of eMortgage services with Stewart Transaction Solutions. As a leader in the evolution of technology in the mortgage arena, Anderson also founded eMortgage Alliance, which supports MISMO open standards for compliant paperless processes for mortgages.

****Now Anderson has to take things even further. He is tasked with reshaping the technology strategy of a large company and aligning that company to fit the present and future needs of lenders. “Nobody can build that silver bullet,” noted Anderson. “You can’t have that one system that does everything, but that’s where the cloud comes in. We can create a cloud-based system of record that standardizes the data, the systems and the process. ISGN is in a unique position to build that new process. The other benefit to working with and being involved with ISGN is that they are not saddled with the old legacy mindset.”

****But industry vets like Dave Demster, Bill Adamowski, Jack Luhtanen and others have led ISGN’s mortgage strategy in the past with limited success. So, I asked Tim why he will be different. “A lot of those guys came from acquisitions,” Anderson answered. “We acquired their companies and brought them in. The problem is that we bought their baby and they were attached to their baby. I don’t come to ISGN through an acquisition. I’m open to new ideas and so is ISGN as a company. I’m not trying to sell a product per se, I’m about creating a long-term relationship and giving the lender what they need now and stretching out from there to automate more and more for the client when they’re ready. I want to build deep relationships with our clients and do what they need. We are not just a technology company or just an outsourcing company, we’re both.

****“ISGN will be bringing in more senior people like me who can develop an implementation process to eliminate pain processes for our clients. I’m happy to be on board a company that has taken the right approach at the right time. We don’t want to be a me too. There are too many people trying to cut price just to stay in the game. We don’t want to be a me too like that, we want to re-shape the mortgage space.”

****Well, if anyone can do it, my friend Tim Anderson can. I’ll be sure to keep you informed about his progress and all the news at ISGN as it unfolds.