*Technology Can Help You Grow*
**New LOS Selection**
***PROGRESS has learned that Solarity Credit Union, based in Yakima, Washington, has chosen Mortgage Cadence’s Symphony mortgage lending solution upon which to enhance and grow its mortgage strategy. The credit union will go live on the platform early this summer. Symphony is one of two Enterprise Lending Solutions offered by Mortgage Cadence. Here’s why Solarity made this choice:
****“Solarity Credit Union is unique in the state of Washington,” said Ralph Cumbee, Chief Lending Officer. “We guarantee 14-day closings on all purchase transactions. In addition to providing the best possible financing experience for our members we have to be efficient to deliver on this promise,” he continued. Symphony is a complete solution incorporating Prelude, its online origination portal, a processing suite, secondary market tools and imaging. “Mortgage Cadence is unique, too. Their platform is the only one that combines all these necessary features in one package,” added Cumbee.
****Symphony is cloud-based, providing lenders with several benefits including anywhere, anytime availability. Borrowers and loan officers originate from wherever they happen to be from any Internet-connected device. Not only remarkably convenient, ready availability and instant, online approvals are essential in the emerging purchase-market where demand is increasing, supply is low and multiple offers are once again a reality. “This is the Symphony advantage. It makes our 14-day closing guarantee a reality,” Cumbee continued.
****In addition to providing mortgage solutions, Mortgage Cadence tracks lending performance, sharing results with customers and the market. Its benchmarking white paper, published last fall, focuses on several high-level metrics and offers lender case studies. “The Benchmarking White Paper helped focus us on pull-through, productivity and cost-to-close,” said Cumbee. “It also helped us develop several of our own metrics. We have a starting point as well as goals we intend to achieve that will make us more efficient and ensure we are providing the best possible financing experience for our members,” he concluded.
****“As the purchase market returns, measured and tracked efficiency and borrower experience are the two keys to a thriving mortgage operation,” said Michael Detwiler, CEO of Mortgage Cadence. “Solarity is ahead of its peers.”