In this section of our website we profile actual users of technology. You can never truly know how good technology is until it’s in use. It’s also important to remember that technology is only good if it solves a real business problem.

Lender Automates For Future Success

Lenders that are looking to expand are increasingly automating. For example, Ditech Mortgage Corp. (ditech) has selected Ellie Mae’s Encompassas its mortgage management solution.ditech provides residential mortgage products through a team of Home Loan Specialists who are easily accessible by phone, online and in-person. The company’s Correspondent Lending division has a legacy of building successful business solutions and partners with 600+ financial institutions nationwide, providing capital market expertise and financial stability.

ditech plans to implement Encompass to support a nationwide expansion of its lending operation. Patti Cook, president of DT Holdings, parent company of ditech, said, “We selected Encompass because it enables us to deliver a high-touch experience for all of our customers – those who work with Home Loan Specialists in our retail locations, those who contact us online and over the phone and those who are members of the correspondent banking community.”

Denise Palko, vice president of technology solutions at ditech, added, “We expect that Encompass will help deliver greater efficiencies, strong compliance, loan quality and help us to wow our customers. We are currently rolling out the solution to our Retail channel, and we plan to have our entire organization, including Retention, Wholesale and Correspondent divisions on Ellie Mae’s Encompass.”

ditech has embraced Ellie Mae’s software-as-a-service (SaaS) and Success-Based Pricing offerings. Ellie Mae’s Success-Based Pricing is tightly aligned to the client’s success in originating loans, allowing the company to pay for their software and services based on the number of loans they close every month.

“For every company that sees technology as a purely defensive solution, there are others, like ditech, who view technology as a strategic opportunity to grow their business and market share,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “We are pleased to be part of their growth strategies and look forward to helping them provide exceptional service for their customers.”

Lender Strategizes To Grow

MCS Mortgage Bankers Inc., a Patchogue, New York-based mortgage lender with 15 retail branches and multistate growth plans, has chosen the Vantage Integrated Production (VIP) platform as its customer relationship management software. Here’s why they made this selection:

MCS Mortgage Bankers was founded as a full service FHA and conventional retail lender in 1995 and is licensed in 10 states with plans to expand to larger markets, including California. The company places great emphasis on high service levels, and the executive team recognized that its continued growth required CRM technology.

“We need tools to ensure our sales force can accommodate the electronic communications needs of our prospects and clients, as well as, to optimize our messaging in sales, branding and marketing programs,” said Taylor Stork, MCS Mortgage Bankers executive vice president and national sales manager. “We spent about three months in due diligence to find the right solution, with input from current users and our technology group,” he said.

When selecting the VIP CRM platform, MCS Mortgage was not only focusing on marketing and communications but also on compliance and growth, Stork noted. “Like every lender today, we need to minimize the risks of non-compliance. We’re also looking to enhance our brand with great borrower presentations and the first-rate content provided by Vantage Production’s noted industry experts,” he explained. “But we were also very impressed by the scalability of VIP, its up-to-date applications, and the personalized, configurable tools that were available to us with the platform.”

“MCS Mortgage is a prime example of a very well-run company with significant expansion plans,” said Paul Zoukis, CEO of Vantage Production. “In order to maximize customer service levels, minimize compliance issues, and pave the way for growth, MCS needed a true CRM platform, not merely a lead management software,” he noted.

“VIP will create more opportunities for MCS Mortgage’s loan professionals, enabling them to close more loans and provide the best possible experience for borrowers,” Zoukis said. “That’s how you achieve well-deserved and stable organic growth – by earning it with your customers and gaining their referrals,” he added.

Lender Gets Big Honors

The perception that all mortgage professionals are evil could not be father from the truth, especially these days. The bad actors have exited and those that are still active are doing great work. For example, United Wholesale Mortgage (UWM), one of the largest wholesale mortgage lenders in the nation, and its parent company United Shore Financial Services (USFS), has been recognized for multiple local and national awards having to do with the development of its unique corporate culture. Read to see what they got recognized for and how you too can get recognized:

In addition to being named a Top Workplace by the Detroit Free Press and one of Metro Detroit’s 101 Best and Brightest Companies to Work for the second consecutive year including an Elite Award for Employee Achievement and Recognition, USFS has been recognized as one of the National Best and Brightest Companies to Work For.

“For me, the importance of these awards is that they’re about our people,” said Mat Ishbia, President of UWM and CEO of USFS. “Our people are the key to our success. It’s great when outside organizations recognize the hard work, respect and fun that is part of our everyday work.”

With tremendous growth over the last two years, the company continually thinks outside the box in how to create a corporate culture and environment that makes people feel good and appreciated from the minute they arrive at work.

Among the amenities built exclusively for their employees:

>> Complimentary valet parking, as highlighted in a recent Forbes article titled “9 Cool Work Perks That Could Be In Your Future”

>> On-site Starbucks

>> Dry-cleaning service

>> Health club

>> A modern, high-energy, open office layout

Earlier this year, USFS brought its more than 1,200 employees together under one roof at their new state-of-the-art corporate headquarters. The move consolidated all of the company’s team members from four locations in Birmingham and Troy, Mich. into a single location on four floors with more than 140,000 square feet of new space. Company officials say the move has been instrumental in developing their one-of-a-kind working environment.

“Creating a rewarding and energetic environment for our people is central to what we do,” Ishbia said. “This is by design because we believe happy people equals happy clients.” USFS and UWM emphasize career growth with daily and long-term employee training programs, and multiple recognition programs to award employees. With its roots as a family-owned company, Ishbia makes a point of walking the floors daily to get to know all 1,200 employees. “We want everyone at USFS to have a family-feel even when they’re not at home with their own families,” Ishbia said.

Now it’s your turn. You deserve to get recognized too so apply to be named a Top Innovation by PROGRESS in Lending HERE.

Lender Automates Delivery

NewDay USA, a nationally recognized and approved VA loan provider has partnered with eLynx to facilitate its consumer loan deliveries. On average, NewDay USA sends thousands of loan applications a month. Now, those deliveries have almost doubled each month. It’s anticipated that using eLynx technology will improve NewDay USA’s electronic delivery of loan applications even further.

Since its founding in 1999, NewDay has taken on all costs and responsibilities to produce and distribute necessary documentation to customers. According to NewDay USA’s COO, Paul Alger, transitioning those fulfillment responsibilities to eLynx will allow NewDay USA to utilize staffing, equipment and space resources elsewhere — and it will increase efficiency.

NewDay USA selected eLynx’s consumer delivery solution, The Expedite® Inbox. It provides a central portal for all consumer documentation. Consumers establish a single account that can manage all document types across all loan products, providing a consistent and easily identifiable touch point. PROGRESS in Lending’s Executive Team awarded this service with its Top Innovations award for its industry significance and various efficiencies gained through its creation.

Built-in alerts and reminders ensure that both the financial institution and consumer always know what’s required and due. Integrated capabilities like eDelivery, eSignature, electronic upload, automated print and mail, and fax drastically reduce the time it takes to close a loan, while minimizing the resources and fees associated with executing the transaction.

The Inbox can integrate with an existing banking portal for a seamless consumer experience. To increase brand recognition and loyalty, the system can be configured to match the look-and-feel of the financial institution’s web presence.

“NewDay USA’s integrity and unwavering commitment to serving its customers is clearly reflected in its national ranking as a top VA and reverse mortgage lender, as well as it being selected by the Veterans Of Foreign Wars to be the exclusive mortgage provider for the organization’s 1.5 million members,” said eLynx president and CEO, Sharon Matthews. “We are extremely humbled by the ability to help NewDay USA continue to serve its thriving community of customers with an enhanced user experience.”

According to Alger, eLynx’s investment in creating an intuitive, easy-to-use interface for both NewDay USA’s consumer and its loan officers separated eLynx from its competitors. NewDay USA ultimately felt that eLynx’s technology could rapidly scale with growing volumes of documents to distribute and process. Furthermore, the eLynx team’s ability to help guide NewDay USA in establishing a consistent and repeatable process throughout locations in Maryland, Delaware and Chicago was critical.

Eric Armstrong, a senior applications analyst at NewDay USA, said the decision to go with eLynx was straightforward. “With eLynx we will be able to decrease our costs and increase our efficiency,” said Armstrong. “With the regulation and market changes there could be additional disclosure requirements that would add to current mailing requirements. We want to make sure we have a scalable process for addressing potential changes.”

Lender Looks For Total Visibility

*Lender Looks For Total Visibility*
**Chooses A New LOS**

searching***Old Point National Bank (OPNB), a subsidiary of Old Point Financial Corporation based in Hampton, Va., has selected the Common Origination Platform to meet its consumer and business lending needs. Common Origination Platform from Fiserv is a single-platform solution that gives lenders a holistic view of their borrowers across all lending channels and products, regardless of the point of origination or loan type. By aggregating all of this information in one place, OPNB gets a more comprehensive view of its borrowers, enabling them to better serve those borrowers, a key initiative for the bank.

****With $845.3 million in assets, OPNB offers a broad range of banking services to retail and commercial customers. The bank cited the robust and customizable document generation of Common Origination Platform and its ability to be integrated into other Fiserv solutions as reasons for its selection. As a user of the Signature bank platform from Fiserv, the bank chose the hosted deployment option so that it could take advantage of the sophisticated infrastructure capabilities available through Fiserv.

****“Fiserv has been a partner of ours for a number of years and we trust their expertise in the financial services industry. Common Origination Platform is another example of how they are using their expertise to enhance the industry,” said Tyler White, SVP, Information Technology, OPNB. “Lending is important to our customers and, as such, it is important to our institution. With Common Origination Platform and its integration with other Fiserv solutions, we will be able to deliver efficiencies and provide even better service to our customers.”

****OPNB has been a Fiserv client since 1996. In addition to Common Origination Platform, the bank utilizes the Signature bank platform, Nautilus enterprise content management system, EnAct enterprise sales management system and the Fraud Detection System from Fiserv.

****“Common Origination Platform has the capabilities financial institutions need to modernize their lending operation,” said Kevin Collins, president, Lending Solutions, Fiserv. “As an enterprise lending solution, Common Origination Platform is designed to enable lenders to establish their own process rules to automate virtually every origination transaction based on their institution’s specific needs. Defining these operating procedures, conditions and limits, will help OPNB build customer loyalty and provide products and services that keep pace with the rapidly evolving industry.”

****Common Origination Platform from Fiserv is designed to originate consumer, business, mortgage and other real estate-backed loans.

Looking For An Edge

*Looking For An Edge*
**Lender Enhances CRM**

superior***Axiom Financial LLC, a subsidiary of PHH Corporation, has selected the Vantage Integrated Production (VIP) service to further strengthen its relationships with REALTOR referral sources. Vantage Production, LLC is a provider of customer relationship management (CRM) solutions designed to deliver superior marketing, sales and content. Here’s why Axiom make this choice:

****Axiom is one of the top performers in the PHH family of companies, and has helped its customers achieve the dream of homeownership since 1996. Axiom is using VIP to streamline and automate the marketing process across its 19 offices and to help its loan officers stay in constant contact their customers and key REALTOR referral partners.

****Developed exclusively for the mortgage industry, VIP enables lenders to meet the dual challenges of driving revenue while minimizing compliance risk. VIP is built on a common database that integrates data from across the lender’s loan origination system (LOS) and other external and internal systems. The solution provides a CRM platform coupled with advanced marketing, sales presentation and content modules.

****Brad Drew, Marketing and Communications specialist at Axiom, said, “Axiom Financial has always differentiated itself based on the attention and service that we provide to customers and referral partners. VIP’s unique referral campaigns and content enhances our ability to reach out to REALTORS, our prime source of referrals, and maintain these relationships.”

****Paul Zoukis, chief executive officer of Vantage Production, said, “Axiom recognizes the need to proactively market to REALTORS. By delivering actionable information to these referral partners, loan officers can build and cultivate profitable relationships to expand their purchase business.”

Lender Programs Go Electronic

*Lender Programs Go Electronic*
**Correspondent Details Published**

library***Lake Michigan Financial Group is publishing the library of program details for the Company’s Correspondent Lending Division electronically. Lake Michigan’s program details will now be available through their corporate website for approved correspondents and through AllRegs Market Clarity and AllRegs Investor Library for mortgage lenders.

****Lake Michigan Financial Group will now leverage the AllRegs technology platform and publishing expertise to manage and maintain its library of correspondent mortgage program details. Users will benefit from a variety of productivity tools, including an electronic Table of Contents tree which links to the program details. Content is also accessible through a robust search engine that features a thesaurus with industry jargon and relative matching results.

****Internal customers and business partners, through AllRegs products such as the Investor Library and AllRegs Market Clarity, will now be able to access details on a variety of programs, including:

****>> Fannie/Freddie conventional conforming loans with no overlays

****>> HARP loans (both Fannie and Freddie)

****>> Jumbo loans (FIXED RATE and ARMS) up to 90% LTV

****>> Non-warrantable condo loans

****>> LMMI Loans with built-in discounted MI premiums

****>> Fannie Mae HomePath Loans

****>> FHA and VA Loans

****>> Portfolio ARM loan products

****“We at AllRegs are proud to provide Lake Michigan Financial Group staff and business partners with an innovative and robust resource to access their program details in real-time,” says Dan Thoms, Executive Vice President of AllRegs. “Delivered through our proprietary technology, the LAKE MICHIGAN FINANCIAL GROUP lending library will help their staff and partners alike to streamline business processes and increase productivity.”

****“Lake Michigan Financial Group (LMFG) is proud to add AllRegs as a corporate strategic partner,” stated Eric Burgoon, Senior Vice President Mortgage Lending, Lake Michigan Credit Union.  “We have found their full suite of services and technology allows us to provide our clients with immediate and simplified access to our product guidelines and our platform offerings.”

Customer Service Really Counts

*Customer Service Really Counts*
**Technology Selection**

customer-service***Gateway Mortgage Group has selected Fiserv’s LoanServ platform for the company’s mortgage servicing technology needs. Gateway, one of the largest privately held mortgage bankers in the United States, will use LoanServ to enhance its customer experience and grow its home loan servicing portfolio through its retail and correspondent channels nationwide.

****“We have more than tripled our total mortgage origination volume over the last four years, but origination is just the first step in the home loan process,” said Kevin Stitt, CEO, Gateway Mortgage Group. “We currently service more than $3 billion in residential mortgages. LoanServ from Fiserv gives us the capability to significantly increase our servicing capacity and help us better serve our customers through the life of their loan.”

****Using LoanServ, Gateway will be able to perform the full range of mortgage servicing functions including escrow, payment processing, investor reporting and default management. Gateway executives anticipate that the selection of the Fiserv solution will help them increase employee productivity, improve operational efficiency, react more effectively to changes in modification programs such as HAMP and HARP, and streamline the default process with workflow automation that reduces errors and frees up resources for use elsewhere within the company.

****Gateway services loans from more than 20 states and will use the loss mitigation workflow tool within LoanServ to enhance borrower outreach from its two call centers in Tulsa and Norman, Okla. Gateway primarily services Fannie Mae and Ginnie Mae loans, but plans to broaden its capabilities to support other loan programs.

****LoanServ automates all loan servicing processes, including integrated default management and collections, cashiering, escrow and investor accounting for both closed-end and revolving loans. With the LoanServ solution, data transactions are available online in real-time to ease compliance risk and eliminate the limitations associated with an end-of-day batch processing cycle.

Lender Looks To Simplify

*Lender Looks To Simplify*
**Aims For Compliance**

shutterstock_86955133***In a move to simplify the mortgage process and enhance compliance, Tulsa, Okla.-based BOK Financial Corp. has selected DocuTech Corp.’s ConformX software to handle their mortgage origination documents. The financial services company selected DocuTech, a leading provider of compliance services and documentation technology, in order to ensure federal, state and investor compliance and reduce associated costs.

****BOK Financial chose DocuTech because of ConformX’s customizable solutions that enable its employees to import data directly from their loan origination system (LOS) into dynamic loan documents and disclosures.

****“DocuTech’s easy-to-use platform will enable us to ensure our documents are accurate and compliant for every lending situation; we anticipate an increase in efficiency for our employees and ease of use for customers,” said Ben Cowen, president of BOK Financial Mortgage. “Our staff can focus their attention on quality control and sales confidently knowing the use of ConformX allows automation of their customer documents with a seamless integration to our LOS.”

****BOK Financial Corporation is a $27 billion regional financial services company with 169 banking centers across seven states. BOK Financial has also decreased the time spent on maintaining a library of compliant documents through one of ConformX’s many tailored features.

****“The industry’s challenging regulations and unprecedented rate of regulatory change places a bigger emphasis on a lender’s need for quick and efficient automation,” said Scott K. Stucky, chief operating officer of DocuTech. “BOK Financial will be ahead of the compliance curve due to ConformX’s updates and automation that enable its staff to increase business efficiency using fewer resources.”

Choosing The Right LOS

*Choosing The Right LOS*
**A Hard Decision**

thinking***Lenders continue to switch their loan origination systems. In this case, FORUM Credit Union has selected the MortgageFlex LoanQuest loan origination system for their mortgage and consumer lending needs. FORUM is headquartered in Fishers, Indiana and is the sixth largest Credit Union in Indiana. Here’s why they chose LoanQuest:

****FORUM was organized by the employees of Indiana Bell Telephone Company in 1941 and has more than 107,000 members and 12 branches located throughout Indiana. They have experienced many changes over the past 60+ years and have led the credit union industry in dedication to their members and innovative practices.

****In May 2012, they began a search for a new loan origination system culminating in the recent selection of LoanQuest. According to Brian Crum, vice president of lending, FORUM Credit Union, “MortgageFlex provides a flexible software solution that offers efficient and effective loan origination tools. Their configurable solution will improve our member’s experience and give us the flexibility to offer a wider range of products and adapt to the ever changing market.”

****FORUM also originates mortgages for other credit unions through its FIMI CUSO and has an active wholesale line of business, making a multi-channel origination system a necessity. The LoanQuest lending system accommodates retail and wholesale mortgages in addition to consumer loans and utilizes a single database that provides lenders with a comprehensive view of their customer’s financial situation. LoanQuest is delivered with integrated workflow, a robust product and pricing tool and an imaging center that allows users to clear conditions while viewing. All are driven by lender defined business rules that are easily configured.

****Equally important to FORUM was partnering with a vendor that has a proven track record. MortgageFlex has focused on the mortgage lending since 1980 and has earned industry recognition numerous times, with over 200 implementations to its credit. MortgageFlex’s experience was validated during FORUM’s due diligence process, “They have a great reputation as an experienced software provider in the industry”, Crum stated.

****MortgageFlex’s industry tenure gives them a distinct advantage over other vendors and they pass that experience onto their customers. “We’ve seen a lot of mergers, acquisitions, and closures among our competitors and we’ve learned from them. We’ve learned that you have to continue to improve your technology and listen to your customers. You have to be willing to work with them and incorporate their needs and best practices into a system that works for them,” said Craig Bechtle, chief operating officer, MortgageFlex. “To be selected by a progressive lender like FORUM after a yearlong due diligence is very gratifying and we are looking forward to a long-term partnership.”