Entries by Progress In Lending

Understanding The News: Embracing The Cloud

*The Cloud Has Finally Come Of Age*
**A New Consulting Service Forms**

***Acris Technology, the software development company behind Mortgage VCO, a full suite of cloud-based software applications and business support resources for mortgage bankers and lenders, has launched a new consulting service designed to help lenders and other financial service companies build an entirely cloud-based virtual corporate office. Named VCO Airlift, the new consulting program will identify the specific steps a lender needs to undertake to run a compliant, scalable, paperless, virtualized mortgage office without the expense and complexity of on-site servers, software, maintenance and upgrades, while taking into account the company’s existing software and business needs. Airlift will also pinpoint the savings in dollars that lenders will realize by freeing themselves from on-site servers and legacy systems and migrating to a virtual environment.

Technology Spotlight: Subprime Flying High Again?

*Nonconforming Is Making A Comeback*
**Quadriga Mortgage Group Profiled**

***Who said nonconforming is dead? The Quadriga Mortgage Group specializes in portfolio funding nonconforming mortgages with low loan to value (LTV) ratios on a wholesale basis, originated through licensed mortgage brokerages and other third party lending professionals. Quadriga manages a mortgage pool that is funded by private investors who are taking advantage of the benefits of investing in a diversified pool of well secured residential mortgages. To further streamline its operation and grow the company has chosen to implement the Mortgage Builder LOS. Here’s why:

Magazine Column

*Recovery Tips: Dodd-Frank’s Impact* **By Melanie R. Finkelstein and Marsha L. Williams** ***The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), which was signed by President Obama on July 21, 2010, radically changes all aspects of the financial industry, especially mortgage lending.  Dodd-Frank created the Consumer Financial Protection Bureau (the “Bureau”) to replace the Federal […]

Magazine Column

*Your Voice: A New Deficit Problem* **By David Lykken** ***Our nation’s fiscal deficit is dominating today’s news. There is another deficit crisis however, that is NOT getting much if any attention. I am referring to the leadership deficit in this country…both in the private and the public sectors. ****Leadership has been a topic of interest […]

On The Move: You Deserve It

*Getting Their Just Reward*
**The Latest Promotions, New Hires and Layoffs**

***There is no denying that there’s a lot of bad news going around. Are you tired of bad news? Well, we at PROGRESS in Lending Association are sure tired of bad news. So today we want to bring you some good news. PROGRESS in Lending has learned of two staffing news stories that made us smile. Here’s the scoop:

Technology Spotlight: Lender Looks To Cash In

*Lender Looks To Drive Business Growth*
**Independence Mortgage Company Profiled**

***Independence Mortgage Company, a division of Detroit, MI-based First Independence Bank, has decided to switch its LOS to Avista Solutions. Independence Mortgage Company’s Avista Agile LOS will be up and running no later than November 1. Independence Mortgage Company Director Jim Wickham, a Certified Mortgage Banker (CMB), wanted to implement a new mortgage loan origination system that would help drive the company’s business growth plan.

Understanding The News: LOS Stirs Things Up

*BREAKING Loan Origination System News*
**A New Approach**

***MortgageFlex Systems, Inc., a leading provider of mortgage lending solutions for over 30 years, announced today the official launch of the newest generation of LoanQuest, the company’s flagship enterprise loan origination system (LOS). The milestone release combines over 30 years of mortgage lending system functionality and experience with the latest generation of Microsoft technology. Here’s why the company thinks this LOS will stand out:

Magazine Feature Story

*The Truth About BI* **By Julie Piepho** ***Do we as an industry really need another buzzword? Of course not. But it seems that Business Intelligence or BI seems to be the latest buzzword to hit our industry. Let’s get beyond the buzz and get to the truth. What does BI mean really? To me, BI […]

Magazine Feature Story

*Think Creatively, Get Results* **By Sharon Matthews** ***With exterior pressures, such as increasing regulation and compliance demands that force the need for additional transparency, combined with MBA predictions of dramatic origination declines in the third and fourth quarters and perhaps beyond, lenders must actively seek out new ways of doing business. ****Although our industry continues […]

Magazine Feature Story

*The Elements of Special Servicing* **By Steven Horne** ***Everyone learned in school about the four elements the ancient Greeks believed made up our world. Earth, air, fire and water show up in many ancient cultures as being the four critical elements of existence. We in the modern world, of course, understand that there are several […]