*Lenders Line Up For New LOS*
**Live Clients Added**
***PROGRESS in Lending Association named MortgageFlex’s newly rewritten LOS a top innovation. Any time you launch a new version of your LOS it can be tricky. Will it be what lenders want? Will they switch from the older version? In this case, Mortgageflex went public with the news that not only have clients switched, but seven of their new clients are LIVE on the .NET version of LoanQuest with several more expected to be in full production mode soon.
****MortgageFlex is seeing an increased focus and interest on the advantages the right technology and services mix can provide to lenders. New customers range from mortgage bankers to community banks, Credit Union Service Organizations (CUSO), national banks, credit unions, as well as state housing finance agencies.
****“Our customers are telling us that with the market coming back, they don’t have the time or resources to squander with inefficient processes,” said John McCrea, senior vice president, business development at MortgageFlex. “They are aggressively seeking technology that can eliminate multiple platforms, make the lending process easier for consumers, and improve their internal business processes.”
****MortgageFlex has taken a proactive approach and redesigned their service offerings and hosting options to compliment the rewrite of their mortgage solution – LoanQuest. The LoanQuest loan origination system supports retail, consumer, wholesale, correspondent, and conduit lending channels.
****“Being an entrepreneurship, gives us the flexibility to work with our clients on a personal level. They are more than just a number to us and we value each relationship,” stated Craig Bechtle, executive vice president, MortgageFlex. “Other providers may not have the same singular focus on the origination space and will often make unilateral decisions based on what’s best and easier for them and not for the customer. We engage and ask first.”
****Running a more personalized shop also allows MortgageFlex to review product enhancements and quickly implement best practices based on client feedback. This philosophy has proved to be very effective with all of the regulatory changes during the past few years and allowed system updates to be available ahead of the effective dates and to fit the way lenders really do business.
****Kennebunk Savings Bank, Kennebunk, ME, who recently went into live production mode, agrees that MortgageFlex has done things the way right with their .NET product release. According to Patricia Pratt, loan systems administrator, “The biggest advantages that we have found when using LoanQuest are the process efficiencies we’ve gained using the workflow functionalities for our back office, and the regulatory parameters that are set up to alert users that there is a potential violation.”
****LoanQuest has continuous compliance features that validate the data at the time of entry and since LoanQuest is built on a relational database, there is only one source of the data, improving quality.
MortgageFlex has endeavored to give lenders several options to accomplish their goals, including hosting services, which over 60% of the new clients have selected.
****The MortgageFlex hosted environment is unique when compared to other “cloud” offerings available due to dedicated hosting environments. Every client has an exclusive instance of the application and a dedicated database.