New research shows that a lot of lenders are looking to switch systems. This process is usually very painful, but technology does exist to ease the discomfort and make the switch smoother. For example, CCMC, a financial industry integration expert, has announced an new offering available for its Mortgage Loan Connector solution, providing customers with greater flexibility when changing systems. Here’s what you need to know:
A recent QuestSoft survey found that nearly 20% of all lenders considered changing their loan origination system in 2014, compared to 16% in 2013. This significant jump in financial institutions considering a change comes from compliance concerns brought on by constantly changing CFPB regulations.
CCMC’s Complete Connector Migration Coverage protects a financial institution’s investment in their integration solution in the event they opt to change their loan origination system or core servicing system during the life of their Connector contract. As long as the system is one of the many already supported by CCMC, CCMC will reconfigure the Mortgage Loan Connector solution to work with a new system at no additional charge.
Complete Connector Migration Coverage applies to all new five-year contracts for CCMC’s Mortgage Loan Connector integration solution. Existing CCMC customers can receive Complete Connector Migration Coverage for their Connector solution by signing a new five-year contract.
“This is the first time an integration solution has been offered that provides this level of flexibility to customers. Changing your LOS or core system is a huge undertaking. By providing our customers with the option to reconfigure their integration solution at no additional cost, we give them one less thing to worry about. We have you covered,” said Gene Lederer, CEO of CCMC.
For more information, visit http://www.ccmcinc.com/CompleteCoverage.php.