Mortgage Peer Network has completed an integration that adds peer-based analytics to LendingQB’s cloud-based mortgage loan origination system (LOS). The two companies have joined forces to help lenders generate more business and provide them with peer-based performance metrics that enable a more efficient and intelligent lending operation.
Increased regulation and compliance have dramatically increased the costs of origination and hampered the efficiency of mortgage lenders, according to studies released by the Mortgage Bankers Association. Mortgage Peer Network is an innovative tool that helps lenders provide an enhanced consumer experience using milestone-based consumer survey feedback and leverages consumers’ existing social networks to gain additional repeat, cross-sell and referral business. Mortgage Peer Network provides lenders with peer-based performance dashboards and reporting to help identify areas in the production process that can be streamlined, resulting in lower origination costs.
By integrating Mortgage Peer Network with the LendingQB LOS, lenders gain a method for monitoring their performance and measuring the effectiveness of their operations in comparison to similar lenders. Mortgage Peer Network analyzes performance data generated by LendingQB and enables lenders to select specific peer criteria to provide insight into the true cost and efficiency of their services.
“Through this partnership, LendingQB customers can join Mortgage Peer Network without the challenge of creating data extracts or interfaces. It is a hands-free setup process for the lender,” said Dave Demster, Managing Partner of Mortgage Peer Network. “Mortgage Peer Network effectively becomes an extension of LendingQB’s overall LOS value proposition and helps lenders of all sizes drive new business.”
“Aligning with Mortgage Peer Network delivers a truly unique value proposition for our customers,” said Tim Nguyen, President of LendingQB. “In the past, only larger lenders could afford to go through the process of integration, implementation and customization that is typical of a solution like this, and even then, it was typically many months before the system was usable. Through this relationship, LendingQB clients will be integrated on the very first day they sign up and will begin to receive Mortgage Peer Network benefits shortly thereafter. Mortgage Peer Network is a solution that will help all our customers.”
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.