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Top Lender Selects New LOS

PrimeLending, a PlainsCapital Company and top 10 mortgage lender that originated more than $14.5 billion in mortgage loans last year, has chosen the Blue Sage Digital Lending Platform as its new mortgage origination platform. Here’s why:

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The Blue Sage Digital Lending Platform is a completely cloud-based, highly scalable solution capable of supporting any mortgage channel, including retail, wholesale and correspondent lines of business.

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“We are laser-focused on delivering the best mortgage experience and, in our opinion, Blue Sage gives us a tremendous advantage now and in the future,” said Tim Elkins, CIO, EVP of PrimeLending. “Because of Blue Sage’s unique combination of mortgage industry expertise and open architecture capable of seamless integration and automation capabilities, we will be substantially better positioned to evolve and improve efficiencies over time. Blue Sage was a great fit – there is simply nothing else on the market like it.”

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The Blue Sage Digital Lending Platform is event-driven. The platform handles pricing, underwriting and decision-making from the point-of-sale stage all the way to the closing and funding of the loan. Because Blue Sage can be easily integrated with third party services due to its APIs and integration options, an unlimited number of third party vendor services, such as appraisals, title and flood insurance can also be ordered online through the Blue Sage platform. Blue Sage also includes mobile applications and CRM tools geared to helping loan officers increase sales.

“We are beyond thrilled that a powerhouse lender like PrimeLending has placed its trust in the Blue Sage platform,” said Joe Langner, CEO of Blue Sage. “Based on its large origination volume, a lender the size of PrimeLending can achieve enormous savings by leveraging our digital mortgage technology. We look forward to a long and productive relationship with PrimeLending.”

Lender Expands Closing Cost Assistance Program

National residential mortgage lender PrimeLending, a PlainsCapital Company, announces the expansion of the NeighborhoodEdge closing cost assistance program to all 50 states, plus the District of Columbia.Here are all the details:

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The program, which originally launched in May 2015 exclusively in Texas, offers closing cost credits to low- and moderate-income homebuyers who may need financial assistance to purchase a house. Additionally, the program helps promote homeownership in low- and moderate- income areas.

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Qualified borrowers could be eligible to receive up to $1,500 or $2,000 in closing cost assistance, depending on their income and the location of the property they wish to buy.

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“We’re thrilled about the expansion of this program,” says Latonia Donaldson, PrimeLending’s vice president and director of multicultural lending. “Now that it will be available in all states, the dream of owning a home will be able to become a reality for many Americans who need some extra support.”

For more information and complete details about the NeighborhoodEdge closing cost assistance program, please contact a PrimeLending loan officer at a branch near you.

PrimeLending, a PlainsCapital Company, is a national residential mortgage originator. In the last four consecutive years, PrimeLending was listed as a top 10 mortgage lender in the nation in purchase units.* Offering fixed-rate, adjustable-rate, FHA, VA, USDA and jumbo home loans, refinancing and relocation programs, PrimeLending is authorized to make loans in 50 states and the District of Columbia. Founded in 1986, PrimeLending is a member of the Hilltop Holdings Inc. family of companies.

Lenders Are Looking For Every Advantage

Every lender is looking to cut cost and increase efficiency. The smart lenders are turning to technology to achieve this goal. For example, PrimeLending, a national residential mortgage lender, has implemented ISGN’s TCL product, a software system developed specifically for servicing residential and commercial construction loans. Here’s why PrimeLending made this decision:

According to the Federal Deposit Insurance Corp., both residential and commercial construction loan volume is rebounding after a steep decline. A recent article in The Wall Street Journal cited that outstanding loans totaled nearly $45.7 billion in the first quarter – up 4.5 percent from the fourth quarter – marking the fourth consecutive quarterly gain for construction lending to home builders.

As a result of this increased construction lending demand, PrimeLending will leverage TCL to better manage residential construction loans from one streamlined, automated and configurable system, allowing control of the end-to-end management of the entire loan lifecycle.

“U.S. home construction has recently showed signs of improvement and growth,” said Kale Salmans, senior vice president of Construction and Renovation for PrimeLending. “This prompted us to invest in ISGN’s TCL platform to better manage the increased demand in residential construction loans while allowing us to become more efficient. With this technology in place, our loan originators have the ability to increase their home loan pipelines.”

“The U.S. construction lending industry is seeing a slow but steady recovery, with McGraw Hill Construction projecting total U.S. construction starts to rise by nine percent in 2014 to $555.3 billion,” said Paul Imura, chief marketing officer of ISGN. “In response, lenders like PrimeLending are investing in technology like our TCL, indicating a strong need for automated end-to-end construction loan servicing software to better manage the increased demand in construction loans.”

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