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Honoring Industry Innovation

Recognizing The Best Of The Best!

PROGRESS in Lending Association was formed to give industry thought leaders a voice. The right formula of technology combined with business strategy can come together to solve real industry problems. Now we’re going even further with the Innovations Program. The Innovations Awards Ceremony is always a great event. Read about which companies were named the Top Innovations of 2010, those companies that were just named the Top Innovations of 2011, those that were named the Top Innovations of 2012, those that were named the Top Innovations of 2013, those that were honored as the Top Innovations of 2014, those that were honored as the Top Innovations of 2015, and those that were honored as the Top Innovations of 2016.

As part of the Innovations Program we want to reward industry-changing innovations. For those companies or groups that have come together to do something truly game changing for the mortgage space, we want to recognize all that you do in order to change the industry for the better.

What are we looking for? We want to recognize innovations introduced into the mortgage market between January of 2016 to December of 2016 that truly changed the mortgage market for the better. As part of this competition, we’re not only looking to recognize a new release, although we certainly don’t want to discourage the entry of innovative new releases that hit the market in 2016. We also want to reward companies and groups for doing creative things throughout 2016 that made a positive difference.

Understand that this is not a subjective competition. All applications will be scored on a weighted scale. We will be looking for the innovation’s overall industry significance, the originality of the innovation, the positive change the innovation made possible, the intangible efficiencies gained as a result of the innovation, and the hard cost and time savings that the innovation enables industry participants to achieve. Find out more about our criteria.

How will we judge? This recognition will not be decided by mere industry onlookers, all seven industry experts that make up the PROGRESS in Lending Association executive team will act as judges and all will be given an equal say in how applications are evaluated. Learn more about our executive team. Applicants will be judged by industry peers who know the space inside and out, just like you do. In order to be considered your application must be submitted here online by Friday, January 26th.

NOW IS YOUR CHANCE TO GET RECOGNIZED! APPLY NOW!

Your Full Name

Your Company Name

Your Title

Your E-Mail

Describe the innovation that you think deserves recognition. Tell us about it.

Also, tell us how this innovation fulfills our criteria. First, tell us about the innovation's overall industry significance here:

Second, describe the originality of the innovation here:

Third, tell us about the positive change the innovation made possible here:

Fourth, list the intangible efficiencies gained as a result of the innovation here:

Lastly, talk about the hard return on investment made possible by the innovation here:

The winners will be named at a ceremony to be held in Detroit, Michigan on April 15, 2018.

Progress In Lending
The Place For Thought Leaders And Visionaries

December 2013 Issue: Compliance Issues Discussed

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Full Issue

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Editor’s Note

This section discusses how dipping origination volume can be a good thing.

Your Voice—By Tim Anderson

DocMagic talks about how the rising cost of compliance can be mitigated.

Recovery Tips—By Susan Johnson

Fidelity Bank details what they see as clear business opportunities in 2014.

Market Pulse

New data from Alchemy Worx debunks the many myths associated with e-mail marketing.

Process Improvement—By Tony Garritano

Tony Garritano notes that there are some obvious pitfalls that may be coming to our space in 2014.

Future Trends—By Roger Gudobba

Roger Gudobba suggests that creative thinking may be just what’s in order to comply with the CFPB.

Business Strategies—By Michael Hammond

Michael Hammond says that there are strategies that you can use in order to maximize sales in 2014.

Get Educated—By Alysia Vrolyk

Carrington Mortgage notes that lenders and servicers need to create a continuous learning environment.

Success, And More Success—By A.R. Smith

Consultant A.R. Smith says that to be effective, you need to be in the business of making technology work.

Train Hard—By Barbara Perino and Rebecca Walzak

Perino and Walzak stress the importance of continual training as we become a very regulated business.

End-to-End Compliance

QuestSoft’s Leonard Ryan details all you need to know about compliance based on his 20-plus years of mortgage experience.

Servicing Strategies—By Jeremy Pease

IndiSoft points out that in an ever-changing market, mortgage servicers shouldn’t remain stuck in old habits.

Progress In Lending
The Place For Thought Leaders And Visionaries

December 2013 Issue: A Closer Look At Our Space

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In This Issue:

>>Noted industry researcher Jeff Lebowitz asserts that there is a link between rule making and corruption.

>>George Yacik declares that there is actually a silver lining behind what the CFPB is currently doing.

>>Susan Johnson of Fidelity Bank shares what she astutely calls the biggest opportunities of 2014.

>>Famed journalist Lew Sichelman talks candidly about how lenders can do a better job courting borrowers.

>>Dan Green of Mortgage Cadence Accenture notes that there is a lot in our industry to look forward to.

>>Phil Hall uncovers a way that the industry can take the initiative and win without Uncle Sam intervening.

>>Industry consultant Rebecca Walzak of rjbWalzak Consulting, details how industry events can be improved.

>>Talk show host David Lykken stresses that there are right and wrong ways to pick up market share.

>>Jennifer Miller of a la mode, inc. details how we as an industry can get ready for the new OCC regulations.

>>Michael Hammond of NexLevel Advisors talks about how your team can be the deciding factor these days.

>>Tony Garritano of PROGRESS in Lending looks into how fear of new regulation may be holding lenders back.

>>Asher Lohman of MortgageFlex takes a hard look at the safety and soundness of cloud computing.

Progress In Lending
The Place For Thought Leaders And Visionaries

November 2013 Issue: Streamlining Processes

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Full Issue

Download individual articles within this issue here:

Editor’s Note

This section discusses how the industry can learn a thing or two from Google.

Your Voice—By Phil Hall

Phil Hall details why anyone in the world would want to be a mortgage banker.

Recovery Tips—By Odette Marra

Belmont Savings Bank talks about how they used technology in order to grow.

Market Pulse

New data from eLynx shows how important it is to form an even closer partnership with the consumer.

Process Improvement—By Tony Garritano

Tony Garritano notes that now is the best time to go paperless and explains exactly why the equation has changed.

Future Trends—By Roger Gudobba

Roger Gudobba offers the industry his candid advice on how to succeed regardless of what’s to come.

Business Strategies—By Michael Hammond

Michael Hammond says that your Web face matters and details the best way to conquer the Web these days.

Overcome Market Shifts—By Judy Margrett

The Turning Point stresses that centralized marketing automation will greatly enhance a lender’s referral business.

Keep Up—By Kelly Booth

Velocify shares an easy way for lenders to keep up and get their share of loans in a purchase market.

Social Media ROI—By Peter M. Bagazinski

Catholic Vantage Financial spells out how they used social media and got more originations out of it.

Tracking The CFPB—By Brad Willis

CCMC notes that there is a very clear way for mortgage lenders to remain one step ahead of the CFPB.

Driving Efficiency

In an ever-changing world, industry thought leaders came together to discuss how lenders can succeed going forward.

Times Have Changed—By Binh Dang

LendingQB points out that the right way to selection the best loan origination system has changed a lot.

Secondary Market Reform—By Barbara Perino and Rebecca Walzak

Perino and Walzak define the best way to re-make the secondary market absent the U.S. government.

True Data Integrity—By Lloyd Booth and Andy Young

Lloyd Booth and Andy Young shed some light on the only way to really ensure true data integrity.

Progress In Lending
The Place For Thought Leaders And Visionaries

November 2013 Issue: The State Of Our Industry

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In This Issue:

>>PROGRESS in Lending founder Tony Garritano points out how it will take more then technology to save the space.

>>Lender A.W. Pickel, III talks candidly about how risk mitigation needs to be the new mindset for every lender.

>>You’ve heard the various ideas on how to revamp the GSEs, but now Lew Sichelman enters the fray with his own ideas.

>>Always opinionated and insightful, Phil Hall predicts what will happen in the next 100 years of mortgage banking.

>>Famed industry researcher Jeff Lebowitz asserts that there is a better way to get new technology to market.

>>Scott Kersnar looks back at the subprime debacle/bubble and talks about the future of this asset class.

>>Industry consultant Rebecca Walzak of rjbWalzak Consulting, details the best way for lenders to avoid risk.

>>James Comtois points out that acquisitions done by CoreLogic signal a larger industry reliance on data.

>>Jennifer Miller of a la mode, inc. details how future change will reshape the appraisal process yet again.

>>Michael Hammond of NexLevel Advisors talks about the state of public relations in the mortgage space.

>>George Yacik warns that credit unions are here to stay and their coming influence is something to watch.

>>Asher Lohman of MortgageFlex takes a hard look at typical LOS due diligence practices and why they don’t work.

Progress In Lending
The Place For Thought Leaders And Visionaries

Our Big News

*Our Big News*
**By Tony Garritano**

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***Over 130 executives gathered at the Third Annual ENGAGE Event. Topics like cyber security, efficiency tips, compliance hurdles and much more were discussed. In addition, PROGRESS in Lending announced some big news.

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****As we all know, those companies that innovate will thrive and those that cling to old practices may find themselves snuffed out. On the publishing side of things, we’ve seen publishing companies in the mortgage space that cling to old-fashioned ideas downsize, downsize, and downsize some more. PROGRESS in Lending was formed to reinvent the concept of publishing such that we act as a repository for thought leadership to help the mortgage business thrive through innovation. As such, unlike others, we continue to grow and have opportunistically looked at ways to recreate and reimagine distribution channels to get you the type of information that you need to improve your business.

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****Well, we’re at it again. As a means of survival, B2B publishing companies in the mortgage space have been forced to cut well-established reporters and today choose to instead bombard you with a myriad of newsletters that all contend that they are breaking news. While they fight over who will be the first to deliver the news, we at PROGRESS in Lending want to be the first to take you behind the news. Top reporters and industry experts will gather here each month and tell you why they think this news story or that trend should be important to you. Let us put the latest news and trends into context for you so you can gain valuable perspective.

TLI1113W2-1****And you don’t have to just read this newspaper either. Several stories will include embedded video and audio to help you engage with content in a way that is totally fresh and unique. This monthly newspaper is not about delivering a story first, it’s about delivering insight from trusted sources that can help you improve your business, hence its name, Today’s Lending Insight. We hope that you like our latest industry publication as we look to creatively deliver fresh concepts that help the lending space improve. This newspaper will offer our industry a fresh way to digest the news. When does this newspaper launch officially you might ask? It’s  coming straight to your e-mail starting next week Wednesday. Stay tuned …

 

Tony Garritano
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 tony@progressinlending.com.

October 2013 Issue: LOS Success

Download the entire issue here:

Full Issue

Download individual articles within this issue here:

Editor’s Note

This section discusses how current rental trends can help the mortgage space.

Your Voice—By Jim Blatt

Mortgage Returns talks about how lenders can use big data to their advantage.

Recovery Tips—By Drew Waterhouse

Hammerhouse LLC details why high-impact recruiting pays off big time these days.

Market Pulse

New data from Uberflip suggests that those on social networks ask themselves, “What’s new? How can I improve?”

Process Improvement—By Tony Garritano

Tony Garritano notes that there are lessons that the mortgage industry can learn from Super Storm Sandy.

Future Trends—By Roger Gudobba

Roger Gudobba suggests that integrative thinking can really help move our industry forward.

Business Strategies—By Michael Hammond

Michael Hammond says that too often strategy and execution don’t align, but it doesn’t have to be that way.

Data, Data Everywhere—By Barbara Perino and Rebecca Walzak

Perino and Walzak stress that errors using inadequate data are much less than those using no data at all.

Future Appraising—By Jeff Bradford

Bradford Technologies says computer-aided appraising is quite literally transforming the appraisal industry.

Efficiency For All—By Dewey Kelly

eLynx notes that it is possible to both provide a better experience for the lender and the customer.

The New-Age LOS

Amid all the LOS shifts, Keven Smith and Kelli Himebaugh of Mortgage Builder discuss how to succeed and thrive among all the industry uncertainty.

True Data Integrity—By LLoyd Booth and Andy Young

Lloyd Booth and Andy Young shed some light on the only way to really ensure true data integrity.

Progress In Lending
The Place For Thought Leaders And Visionaries

Video Insights: The Buzz On Data And The LOS Wars

PROGRESS in Lending tells you what people really think about the LOS market share battle and what the next-generation LOS must do. From there, Roger Gudobba of CSi and Kelly Purcell of eSignSystems join the program to discuss the true evolution of data standards and what should happen next on that front. Check it out:

httpv://www.youtube.com/watch?v=1Y4KGV_z2u0&feature=youtu.be

Progress In Lending
The Place For Thought Leaders And Visionaries

And The 2013 Winners Are …

And The 2013 Innovations Winners Are …
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It was a night to remember. Over 100 mortgage executives gathered to see who the top innovations of the past year were. We recognized innovations that were introduced into the mortgage market between January of 2012 and December of 2012 that truly changed the mortgage market for the better. Understand that this is not a subjective competition. All applications were scored on a weighted scale by every member of the PROGRESS in Lending Executive Team. We looked for the innovation’s overall industry significance, the originality of the innovation, the positive change the innovation made possible, the intangible efficiencies gained as a result of the innovation, and the hard cost and time savings that the innovation enables industry participants to achieve. We encourage everyone to apply online to get recognized next year. But for now, in alphabetical order, the top innovations of the past twelve months are:

a la mode, inc.

alamodePROGRESS in Lending has named a la mode, inc.’s Appraisal Quality Management (AQM) system a top innovation because in a risk-averse market, the AQM service guides underwriters to the issues in each appraisal that require human attention, includes actionable recommendations for improving quality and compliance, an end-to-end audit trail to satisfy examiners and investors, and produces investor-ready loan files, dramatically reducing repurchase risk. AQM is the result of lengthy collaboration between a la mode and MasterServ Financial and AXIS Appraisal Management Solutions. With AQM, risk assessment and investor preparation is transparently integrated with standard collateral valuation workflow. This is important because essential results are returned along with an overall Appraisal Quality Index (AQI) score compiled from analysis of five intelligently weighted risk categories in the appraisal report, consisting of property risk, market issues, completeness of the appraisal report, accuracy of the findings, and the risk associated with the collateral value, making it a true innovation.

Compliance Systems Inc.

CSIPROGRESS in Lending has named CSi’s Configurability tool a top innovation because this product addresses a clear and rising industry problem. With the rapid, extensive and frequent regulatory changes that are hitting mortgage lenders as a result of the 2008 market upheaval, lenders will not be able to maintain libraries of modified standard and custom documents without introducing unacceptable levels of risks. To address this Configurability includes the functionality for lenders to (a) add/append to standard provisions within documents (e.g., a Mortgage/Deed of Trust, Construction Loan Agreement, etc.), (b) replace standard provisions within such a document or (c) suppress/exclude certain standard provisions (“Configurations”); the functionality for lenders to make and manage Configurations internally (i.e., without reliance on a third-party entity for making or maintaining changes); the functionality for lenders to maintain and adapt those Configurations as market, business, policy and regulatory needs change (which is generally frequent, rapid and extensive); the functionality for a lender to create and maintain those Configurations while maintaining the Compliance Warranty of the underlying transaction; and the functionality for lenders to define the business rules/conditions under which the Configurations are to be used in specific transactions.

eLynx

ElynxPROGRESS in Lending has named the eLynx Expedite Inbox a top innovation because this solution provides a central portal for all consumer documentation. Consumers establish a single account that can manage documents across all loan products, providing a consistent and easily identifiable touchpoint for the bank. The solution is truly innovative because it enables borrower access to all manner of loan documents through a single, bank-branded portal. Instead of borrowers having to search through e-mails for the link to a document, they can simply log in to their secure account on Expedite Inbox and see a visual display of all the document sets sent from their lender, with the current completion status (as well as the status of associated signers, if applicable) and due date provided. These visual displays enable consumers to know, at a glance, how close they are to completing actions and what tasks must take priority.

IndiSoft

IndysoftPROGRESS in Lending has named IndiSoft a top innovation because the company has consistently improved business processes in the financial industry, and its RxOffice platform is an innovative technology that is continually enhanced to benefit all stakeholders. From originations, to default management to foreclosure, IndiSoft’s technology has transformed communications and workflow processing. In turn, customers have experienced strong returns on their investments and consumers have been able to work through their financial challenges more quickly, which is greatly helping the financial industry gain stable footing for the future. This year, IndiSoft added a mobile feature and engaged a national law firm to provide users the additional assurance that they will remain up-to-date with all regulatory changes. IndiSoft truly understands the issues surrounding regulatory compliance and the growing need for mortgage companies to implement strong quality control initiatives.

The Lykken on Lending Radio Program

LykkenPROGRESS in Lending has named the Lykken on Lending Radio Program a top innovation because David Lykken saw a need to create a new way for mortgage executives to stay abreast of the latest industry events. With that, the radio show was launched. The radio show is innovative because it takes an old concept (the idea of doing a specialized radio broadcast) and brings that concept into the mortgage space, which has never been done before. Today the radio program averages 30,000 unique downloads of the broadcast every month. In 2012 the industry saw the culmination of and launching of a lot of new rules. Realizing that mortgage lending is quickly becoming a highly-regulated space, the radio program quickly moved to innovate this past year by filling that need.

NCS

NCSPROGRESS in Lending has named National Credit-reporting System, Inc. (NCS) a top innovation because for the past three years, NCS has been a driving force behind the mortgage industry’s IRS electronic signature initiative for the income verification IRS Form 4506-T. These efforts came to fruition on January 7, 2013, the day the IRS began accepting e-signatures for Form 4506-T. The e-signature of Form 4506-T will lead to rising consumer satisfaction and mortgage processing efficiencies, while significantly advancing the protection of consumer information and lessening the opportunities for mortgage fraud. Through its work, leadership and influence, NCS was the undisputed leader behind this innovation. Only the NCS team—led by Cecil Bowman, senior vice president for government and industry relations for NCS and a former top administrator at the IRS for 35 years—had the know-how and experience to successfully navigate the IRS bureaucracy and develop trust with the agency.

The Turning Point

TurningPointPROGRESS in Lending has named the work of The Turning Point a top innovation because the company stepped up in 2012 to champion compliance-centric marketing. The FTC’s “Mortgage Acts and Practices – Advertising Final Rule” (that became effective in late 2011) was instrumental in pushing marketing compliance to the top of every lender’s agenda, although this is only one component in an expanding array of mortgage-specific regulations that now seriously constrain marketing activity. Of particular interest is section 321.3 of MAP, which outlines 19 areas where mortgage advertising misrepresentations have been prevalent – including loan terms, fees and costs, and the consumer’s potential for savings or approval – and which “prohibits any material misrepresentation, whether made expressly or by implication, in any commercial communication, regarding any term of any mortgage credit product.” The Turning Point’s SaaS-based MACH3 platform rose to the challenge, introducing “Corporate Control” and confirming MACH3’s status as the mortgage industry’s only compliance-centric corporate CRM and marketing automation solution.

GET RECOGNIZED FOR YOUR INNOVATIONS. DON’T DELAY! APPLY NOW!

Your Full Name

Your Company Name

Your Title

Your E-Mail

Describe the innovation that you think deserves recognition. Tell us about it.

Also, tell us how this innovation fulfills our criteria. First, tell us about the innovation's overall industry significance here:

Second, describe the originality of the innovation here:

Third, tell us about the positive change the innovation made possible here:

Fourth, list the intangible efficiencies gained as a result of the innovation here:

Lastly, talk about the hard return on investment made possible by the innovation here:

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Progress In Lending
The Place For Thought Leaders And Visionaries