Choosing The Right LOS

*Choosing The Right LOS*
**A Hard Decision**

thinking***Lenders continue to switch their loan origination systems. In this case, FORUM Credit Union has selected the MortgageFlex LoanQuest loan origination system for their mortgage and consumer lending needs. FORUM is headquartered in Fishers, Indiana and is the sixth largest Credit Union in Indiana. Here’s why they chose LoanQuest:

****FORUM was organized by the employees of Indiana Bell Telephone Company in 1941 and has more than 107,000 members and 12 branches located throughout Indiana. They have experienced many changes over the past 60+ years and have led the credit union industry in dedication to their members and innovative practices.

****In May 2012, they began a search for a new loan origination system culminating in the recent selection of LoanQuest. According to Brian Crum, vice president of lending, FORUM Credit Union, “MortgageFlex provides a flexible software solution that offers efficient and effective loan origination tools. Their configurable solution will improve our member’s experience and give us the flexibility to offer a wider range of products and adapt to the ever changing market.”

****FORUM also originates mortgages for other credit unions through its FIMI CUSO and has an active wholesale line of business, making a multi-channel origination system a necessity. The LoanQuest lending system accommodates retail and wholesale mortgages in addition to consumer loans and utilizes a single database that provides lenders with a comprehensive view of their customer’s financial situation. LoanQuest is delivered with integrated workflow, a robust product and pricing tool and an imaging center that allows users to clear conditions while viewing. All are driven by lender defined business rules that are easily configured.

****Equally important to FORUM was partnering with a vendor that has a proven track record. MortgageFlex has focused on the mortgage lending since 1980 and has earned industry recognition numerous times, with over 200 implementations to its credit. MortgageFlex’s experience was validated during FORUM’s due diligence process, “They have a great reputation as an experienced software provider in the industry”, Crum stated.

****MortgageFlex’s industry tenure gives them a distinct advantage over other vendors and they pass that experience onto their customers. “We’ve seen a lot of mergers, acquisitions, and closures among our competitors and we’ve learned from them. We’ve learned that you have to continue to improve your technology and listen to your customers. You have to be willing to work with them and incorporate their needs and best practices into a system that works for them,” said Craig Bechtle, chief operating officer, MortgageFlex. “To be selected by a progressive lender like FORUM after a yearlong due diligence is very gratifying and we are looking forward to a long-term partnership.”