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StreamLoan Integrates Mobile-First Digital Application With LOS

LendingQB (LQB), a provider of lean lending loan origination software in collaboration with San Francisco-based StreamLoan, the mobile-first Point-of-Sale (POS) platform, have come to market with a new solution to provide lenders with a fully automated digital system, creating a best-in-class lender, borrower, and real estate agent experience.

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As a result of this integration, borrowers, loan officers, lender support teams, and real estate agents are empowered to start and manage a 1003 application and loan file, automate the collection of financial documents, share the financial needs list and underwriting conditions, review, approve, and push documents directly into LQB, and collaborate using chat in real-time across mobile and desktop platforms – driving speed, education, communication, and accuracy into the home purchase process.

There are many “mobile friendly” applications on the market, however they fall short in delivering the native mobile app experience customers expect and demand. StreamLoan offers native iOS and Android while delivering a responsive web to cover desktop, laptop, and tablet users.

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This is a first-of-its-kind integration between an LOS and a POS. “Pronto by StreamLoan addresses the emotional friction created in the home buying process with a higher level of communication and transparency with our borrowers,” said Jason Madiedo, President and Chief Executive Officer of Alterra Home Loans. “Our loan officers & their teams can now service their clients with Pronto, while utilizing the full potential of LQB.  This integration allows us to get back to the human side of lending, which is what our industry has been waiting for.  It would have required us licensing products from several software vendors, integrating them, to even come close to what the StreamLoan platform delivers.”

“Lenders must deliver the best customer experience to compete.  Further, our customers can close more loans in less time with fewer resources,” said Stephen Bulfer, CEO and co-founder of StreamLoan.  “There is a reason the average cost of manufacturing a mortgage is almost $8800 today.  Through our partnership with LendingQB, lenders gain efficiencies in their lending processes, create consistent processes, and are equipped to grow their business,” Bulfer continued.

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LQB’s platform provides mortgage lenders with a holistic model for optimizing business performance. The core LendingQB LOS is a fully web browser-based system that manages the entire mortgage lending process intuitively and efficiently. StreamLoan Mobile Office extends this capability to lenders, further expediting the origination process and allowing interaction with borrowers and other parties to the loan.

“Every lender faces a unique business challenge that can be addressed with the proper technology,” said Tim Nguyen, President at LendingQB. “With a configurable LOS like LendingQB, lenders can streamline their processes to create operational efficiency. By integrating our advanced technology directly with StreamLoan, loan officers are now equipped to process more applications in a consolidated manner, while also creating a more transparent experience for the borrower and the referring real estate agent.”

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Integration Makes Lender And Borrower Collaboration More Effortless

As mortgage lenders increasingly invest in modernizing their technology experience, Maxwell, a provider of digital mortgage automation software for small and midsize lenders, has integrated with LendingQB to make it easier for lenders and borrowers to collaborate effortlessly through the mortgage process.

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LendingQB continues to extend its integrations through its web-based LOS system . The LOS’ open-architecture application program interface (API) enables lenders to select the tools that best help their efficiency. The LOS was cited in the STRATMOR Group’s December 2016 Technology Insights report as achieving an end user effectiveness rating of 93%, top marks amongst the major LOS providers.

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“In this age of platform interoperability, LendingQB gets it — an open origination platform that empowers its users to optimize the experience for speed, security and delight,” said John Paasonen, CEO of Maxwell. “We’re thrilled to integrate with a likeminded partner as a showcase to Maxwell’s API that gives flexibility back to the customer.”

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Maxwell automates the way that mortgage lenders work with their clients to close a mortgage, from the loan application to assembling a borrower’s file. Lending teams on Maxwell collaborate with homebuyers in a modern digital workspace, on any device, with connectivity to thousands of data sources. Designed by usability experts, Maxwell reports that loans on its platform close 22 days faster than the industry average.

The integration with LendingQB will enable Maxwell clients to seamlessly sync borrower data with the loan origination system, trigger automated notifications to borrowers and real estate agents, and securely exchange documents and information.

“The ability to provide innovative technology such as an open architecture API offers lenders an added value as their organizations continue to grow and evolve,” said Tim Nguyen, president of LendingQB. “This partnership with Maxwell affirms our commitment to streamlining our clients’ access to products and services that power their business. Innovation is accelerating in this industry and lenders benefit when they can utilize best-of-breed solutions to streamline the mortgage process.”

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The Mortgage Collaborative And LendingQB Partner

The Mortgage Collaborative, an independent mortgage cooperative, serving a membership of 105 lender members, with an aggregate annual origination volume of over $170 billion, and LendingQB, a provider of lean lending loan origination technology solutions, today announced a partnership to provide network members access to LendingQB’s suite of services.

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The Mortgage Collaborative selected LendingQB as the exclusive Loan Origination Software (LOS) partner of network due to the technology and operational expertise the company can provide its members. Network members who decide to work with LendingQB will find a 100% web browser-based system that manages the entire mortgage lending process intuitively and efficiently.

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“Lenders require technology that can efficiently support their unique business objectives,” said Rich Swerbinsky, EVP, National Sales & Strategic Alliances for The Mortgage Collaborative. “Partnering with LendingQB allows The Collaborative to offer our members a proven and innovative LOS platform that provides the technological backbone for a nimble and efficient mortgage process.”

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LendingQB provides mortgage lenders with a holistic model for optimizing business performance by delivering advanced technology coupled with powerful best practices that enable rapid user adoption and software effectiveness. LendingQB’s open API enables robust integrations with more than 200 best-of-breed partner integrations, providing lenders with a flexible solution that can best serve its organizational needs.

“The Mortgage Collaborative’s network brings together lenders and select vendors for the purpose of sharing resources, industry knowledge and expertise,” said Tim Nguyen, President, LendingQB. “We decided to partner with The Mortgage Collaborative because of the values and leadership the organization brings to the industry. Our partnership with The Mortgage Collaborative underscores the commitment we have to delivering meaningful and practical solutions that improve the mortgage lending experience for lenders and their customers. We look forward to building a deep and meaningful relationship with The Mortgage Collaborative and their members.”

About The Author

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.

LendingQB Earns High Marks In Vendor Satisfaction, Customer Support In Annual STRATMOR Report

LendingQB has earned high marks for its vendor satisfaction and customer support in STRATMOR Group’s most recent Technology Insights survey report.

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Per STRATMOR’s LOS Technology Insights survey, LendingQB included roughly 11% of the respondents amongst loan origination software (LOS) providers, making it the second largest in terms of this survey’s overall lender respondents. Likewise, LendingQB earned an end user effectiveness rating of 93% and exceeded functionality expectations for 22% of its respondents – top marks that surpassed even proprietary systems. Overall, LendingQB achieved a vendor satisfaction score of 96% and the highest marks for user experience among the major LOS providers included in the report.

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“Lenders need more than LOS technology, they need a vendor that is committed to their success,” said Tim Nguyen, President of LendingQB. “We have almost two decades worth of experience in providing SaaS technology to businesses, so we know better than anyone the importance of customer support in a SaaS environment.”

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LendingQB’s LOS is completely web-based and designed to provide lenders a flexible, innovative workflow. Its open-architecture application protocol interface (API) enables lenders to select the tools that best help their efficiency. In addition to the technology, LendingQB provides lenders with a combination of workflow analysis, best practices and training to help fully adopt and optimize the LendingQB LOS.

“The STRATMOR Group Technology Insights survey findings are based on 266 participants ranging in size from under $250 million to $10 billion in annual volume. These results reflect lender opinions on how they view their success with LOS technology when vendors are actively engaged in helping them meets their business objectives,” Nguyen said. “LendingQB’s lean lending strategies, best of breed integrations, and focus on ‘adoptimization’ reflects the level of support lenders need and value in addition to reliable technology.”

Learn more at http://www.lendingqb.com/TopRatedLOS.html.

STRATMOR Group is a mortgage industry advisory firm that offers a range of programs designed to provide lender CEOs and senior executives in sales, marketing, technology and operations with comprehensive performance benchmarking data and a full spectrum of expert mortgage lending consulting services. The firm serves more than 250 companies operating in the sector and provides consulting on strategies and actions to improve growth and profitability, reduce risk or position themselves to make an acquisition or sell the company. For more information, visit http://www.stratmorgroup.com.

LendingQB is a provider of Lean Lending solutions. The Lean Lending solution consists of a 100 percent web browser-based, end-to-end mortgage loan origination system, best of breed integrations with key industry partners and ‘adoptimization’ services that result in faster cycle times and lower costs per loan. For more information, please call 888.285.3912 or visit http://www.lendingqb.com.

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ValuAmerica Expands Its Integration With LendingQB

ValuAmerica, a wholly owned subsidiary of Clayton Holdings LLC, and national provider of appraisal, title, closing and settlement services, announced today that it has enhanced its integration with LendingQB, a provider of lean lending loan origination technology solutions, and is now providing title services to LendingQB customers.

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Earlier this year, ValuAmerica announced the initial phase of the integration which provided LendingQB customers access to ValuAmerica’s full suite of appraisal services. The integration has now been expanded to give LendingQB customers a more streamlined workflow to order title services.

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“ValuAmerica and our sister company, Radian Guaranty, are dedicated to providing the best possible customer experience. The latest update to our integration with LendingQB allows loan officers to order valuations, title products and private mortgage insurance without having to leave their loan origination system (LOS), ultimately creating a more efficient loan origination process.” said Shawn Murphy, executive vice president of ValuAmerica.

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“ValuAmerica’s mortgage products provide access to a wealth of resources that streamlines processes for lenders,” said Tim Nguyen, president, LendingQB. “By now having a full suite of title and appraisal services within our LOS, lenders can save during the origination process. Our continued relationship with ValuAmerica and Radian Guaranty validates how the importance of companies aligning their technologies in order to provide the best experience possible for lenders.”

ValuAmerica, Inc. is wholly owned by Clayton Holdings LLC, a subsidiary of Radian Group Inc., and is a provider of real estate information and technology services to the mortgage and real estate industries. The company provides a suite of appraisal, title, closing, and settlement services as well as develops technology to help automate workflow and compliance processes.

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Cutting Corners On The Way To The Cloud

It has been almost twenty years since Salesforce first introduced the concept of cloud computing to the business world. Despite its revolutionary concept, or maybe because of it, adoption of Salesforce and cloud computing in general was initially slow. Today, cloud computing is so commonplace that even the mortgage industry, a notoriously slow adopter of technology, has fully embraced it. But in order to truly exploit its potential, a little self-reflection is required: how well do you really know cloud computing?

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The Industry’s Indispensable Shift to Cloud-computing

In the early days of cloud computing, software vendors broadcast their applications through the internet to allow multiple users to access it using “virtualization.” In this model, a single copy of the application resides on a central server and lightweight “thin client” software is installed on each user’s machine. Virtualization was a big hit.

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IT managers loved virtualization because there was only one copy of the software to maintain. Business owners loved it because their IT costs were drastically reduced. Software vendors especially loved virtualization because they could “spin up” their old, on-premise software into a cloud subscription service with minimal cost and effort.

But in reality, virtualization represents an incremental shift in technological innovation. Other than giving users convenient access and their IT teams more free time, the core technology behind virtualized software does not change at all. It’s not as if “going to the cloud” turns legacy software into an entirely new application. In fact, you could take an 8-bit version of VisiCalc, broadcast it through a server and call it a cloud computing system.

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The Value Added for Vendors in a Multi-tenancy Solution

To realize the true value of cloud computing, it’s important to understand the way an application’s underlying database is structured. In a virtualized environment, there is a single, separate and independent instance of the software code and the database. Any upgrades, fixes or integrations to the software must be installed separately in each instance. This is known as single-tenancy.

In contrast, a multi-tenant database model is truly transformative because the software code and data resides in a single, unified database. Every user across multiple clients is using the same application simultaneously. Therefore, distributing updates, fixes or integrations requires virtually zero effort from the vendor because all of their users are in the same environment concurrently.

One of the main advantages of multi-tenancy is the ability to scale an application extremely efficiently. It is similar to fixing a centralized furnace in a 100-unit apartment building versus fixing each furnace in 100 single family homes. Multi-tenancy also ensures that every client is using the same exact version of the application and has access to the same integrations.

Just as having the ability to scale an application extremely efficiently, vendors can become active participants in the implementation, configuration and end-user operation of the system because they have direct access to a client’s system and associated data. The old “batteries not included” paradigm of software delivery turns into a white glove approach, where vendors embed consultative services into their product offering.

Big Data: The Next Level of Cloud-Computing

However, these advantages pale in comparison to the true potential of cloud computing: Big Data. In a multi-tenant system, all the data generated by every client resides in one database. This means that data aggregation and normalization become non-issues, allowing for analysis and forecasting insight that can approach clairvoyant levels.

Imagine being able to determine the precise cost of originating any given loan scenario. Or the secondary gains you receive when you know the exact date when every loan in your pipeline is going to close. This level of predictability can only be achieved using big data, and big data can only be gathered in a cloud solution that has a multi-tenant database architecture.

Is big data making an impact in the mortgage industry? Not yet. Big data is still in an evolutionary phase. Even industries with mature cloud computing capabilities are only beginning to scratch the surface of big data. But as we’ve seen before, technological advancements happen quickly. Moving to a multi-tenant cloud computing model is the first step towards big data.

While transforming a single-tenant database into a multi-tenant one takes time and money, it is important to build evaluating its place in the vendors organizations now. Legacy software vendors have no choice but to start from scratch, a monumental task, but one that is manageable with the appropriate planning.

Vendors should consider a few different things when planning to integrate a multi-tenancy database. First, how well prepared is their organization to support the business model? And secondly, can the vendor deal with client expectations that are completely different from their legacy model? Gone are the days of delivering pre-packaged software (including virtualized software) and expecting an IT professional to install and maintain it. Vendors should note configurability, not customizing, is the way in which caters to a streamline process, while delivering results. A multi-tenant solution operates as such just like the air conditioner analogy mentioned previously.

Twenty years is a long time. Salesforce and other “true” cloud computing vendors have already experienced and adjusted to the growing pains of delivering software in a multi-tenant environment. Legacy software vendors who are just entering multi-tenancy – even large, well-funded vendors – will discover how difficult it is to bridge the gap from their single-tenant virtualization model. Virtualization might be a shortcut to cloud computing, but multi-tenancy is the only path to a big data future.

About The Author

Linn Cook
Linn Cook is senior communications manager of LendingQB, a leading loan origination software provider delivering customer solutions that combine technology and good business practices. LendingQB is a provider of 100% web browser-based, end-to-end loan origination software that offers residential mortgage banking organizations faster closing time and reduced costs per loan. To learn more visit www.lendingqb.com.

Integration Simplifies Insurance Shopping

Comparity, LLC, an insurance technology company whose mission is to simplify insurance shopping, has partnered with Costa Mesa, Calif.-based LendingQB to integrate its home insurance platform directly into LendingQB’s loan origination and loan processing software.

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The integration imports mortgage loan application data directly into Comparity’s home insurance application. Home insurance applications require many of the same inputs as mortgage applications, and home insurance is required in order to close on typical home loans. The integration makes processing home insurance during the mortgage closing process more simple, transparent, and streamlined for both lenders and homebuyers.

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“Everything in the mortgage industry is driving toward digital. It seems obvious for hazard insurance to be integrated but business and regulatory constraints have been obstacles,” said Scott Hunter, Managing Partner and Chief Executive Officer at Comparity. “We created a technical solution that enables homebuyers to shop privately with the most carriers using their mortgage application data. This integration also helps lenders track their clients’ hazard insurance requirement, validate estimates, and download evidence of insurance,” he added.

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“To be competitive in today’s market, lenders need to remove as much waste from their workflow as possible,” said Tim Nguyen, President of LendingQB. “The partnership with Comparity eliminates hours of wasted time finalizing hazard insurance applications that can be leveraged through the existing data in the LOS.”

LendingQB’s LOS is completely web-based and designed to provide lenders a flexible, innovative workflow. Its open-architecture application protocol interface (API) enables lenders to select the tools, like Comparity, that best help their efficiency. Comparity’s technology and distribution platform is designed to fit specifically with the lender’s workflow and bridges the gap between a digital mortgage and hazard insurance.

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Integration Streamlines The Title Process

Premium Title, a national provider of title and escrow services, has launched an integration with LendingQB’s end-to-end, browser-based loan origination system (LOS). The integration can help provide customers with the ability to obtain title and settlement quotes faster, place orders with Premium Title and receive a title fee certificate guaranteeing fees for 30 days, all without leaving the LendingQB platform.

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This integration, gives Premium Title clients the capability to experience a seamless and more efficient process within the LendingQB LOS platform. Lenders using LendingQB can receive an automated quote for title services and a title fee certificate guaranteeing title fees, which auto-populates into the LOS. LendingQB can also maintain the loan estimate and any adjustments in fees associated with the loan, assisting with TRID compliance and faster disclosure timelines.

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“Teaming up with LendingQB allows us to expand our network by providing customers with greater access to our exceptional title services and solutions,” said James A. Weld, president of Premium Title. “The positive feedback from our beta customers helps confirm that this integration is adding quality and efficiency to the loan origination process.”

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“We are pleased to offer Premium Title’s services through our loan origination system,” said Tim Nguyen, president of LendingQB. “This integration is a prime example of our best-of-breed strategy that will provide lenders with the ease of researching fees, ordering title services and receiving documents directly from Premium Title.”

Progress In Lending
The Place For Thought Leaders And Visionaries

Integration Designed To Streamline The Process

LendingQB and Accurate Group have launched a strategic partnership that will provide users of the LendingQB loan origination system (LOS) with streamlined access to Accurate Group’s appraisal, title and compliance products and services. As a result of the partnership, Accurate Group’s market-leading technology platform is now integrated with the LendingQB LOS platform to facilitate fast, seamless exchange of information — enabling better transparency and helping to shorten loan cycle times for lenders.

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As a result of the new integration, LendingQB users can now access Accurate Group’s appraisal and compliance solutions without leaving the LOS, including:

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>>Appraisal and Valuation Products & Services – Lenders can order from a complete range of traditional and alternative valuation products, including Accurate Group’s ValueNet product

>>Compliance Solutions – Lenders can lower risk and gain peace of mind with complete data transparency and compliance support from order-to-audit

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In addition, lenders will have the option to add Accurate Group’s traditional and streamlined title services and state-of-the art closing solutions, including eSign, giving them a single point of contact for all of their nationwide appraisal and title needs.

LendingQB’s LOS is completely web-based and designed with flexibility in mind. Its open-architecture application protocol interface (API) combined with Accurate Group’s open, standards-based architecture enabled the two platforms to be integrated simply and securely.

“As a provider of LOS technology, our goal is to enable lenders to access the services they need as efficiently as possible,” said Tim Nguyen, president of LendingQB. “Our collaboration with Accurate Group makes a range of valuable settlement solutions available at their fingertips, providing a major boost to productivity and simplifying the overall origination process.”

“The technology integration between Accurate Group and LendingQB is a powerful combination that we expect will deliver a great deal of value to lenders,” said Mike Cullen, CIO of Accurate Group. “We look forward to working with LendingQB to help lenders streamline the loan process, reduce cycle times and gain greater transparency into appraisal and title data.”

Progress In Lending
The Place For Thought Leaders And Visionaries

Using Analytics To Increase Volume And Lower Cost

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.

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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.

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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.

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“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
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.