MReport August 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 7 MTECH no longer need to worry about managing hardware or software updates. The cloud-based LOS can be accessed on multiple platforms—desktop, tablet, mobile, etc.—which allows our loan of- ficers to be productive even when they're not in the office. And, best of all, Path costs less than our previous LOS." "According to a recent report from McKinsey & Company, a successful digital transformation requires 'building capabilities for the workforce of the future' and 'empowering people to work in new ways,'" said Bob Dougherty, Executive Vice President of Business Development at Calyx Software. "Perhaps that's why more forward-looking lenders, like Fairway Asset Corporation, are turning to Path. Our LOS is nimble enough to evolve with changing markets and regulations and it is built on completely new, cloud-based technology, giving greater flexibility to loan officers to better serve their customers." Mortgage on the Move A NEW MOBILE APP GIVES BORROWERS THE ABILITY TO APPLY OR GET PRE-QUALIFIED FOR MORTGAGE FROM ANYWHERE. M assachusetts-based Volly, a provider of SaaS-based CRM, Marketing Automation, Market- ing Store and POS solutions for banks and mortgage companies, has launched a new POS mobile app and a rebranding of its existing CRM mobile app. The Volly Point of Sale Mobile App gives loan officers the ability to invite borrowers to apply or get prequalified from anywhere whether at an open house with a real estate agent partner sitting with prospective buyers, or while out at the grocery store. With the mobile app, loan officers can also track loan status, and borrowers can upload documents and view statuses and tasks, and both can communicate directly within the app, making for a seamless ex- perience that is accessible on any mobile device. Loan officers can invite their referral partners to download their lender branded mobile app to easily set up their own account to invite borrower referrals and track a referral's status quickly. The Volly CRM Mobile App enables users to access customer databases, schedule meetings, and view marketing activities. The rebranded app will reflect Volly's new corporate image and include a name change from CustomerManager to Volly. "In today's ultracompetitive environment, borrowers demand immediacy and responsiveness," said Jerry Halbrook, Volly's CEO. "Our mobile apps allow loan officers to work more ef- ficiently and dynamically to collaborate with customers and partners. We're confident that this technology advancement will substantially improve the quality and satisfaction of the customer journey." Research shows that more than 34% of consumers are accustomed to using smartphones and com- puters for everything, including mortgages. "Lenders who don't have a mo- bile strategy will find themselves falling behind the ultra-competitive technology curve," Halbrook said. An Omnichannel Implementation U.S. BANK IS EXECUTING A NEW LOS TO MANAGE LOANS IN ITS CORRESPONDENT AND HFA CHANNELS. B lack Knight, Inc. recently announced that U.S. Bank, the fifth largest commer- cial bank in the United States, will implement Empower, Black Knight's loan origination system (LOS), to manage loans purchased via its correspondent and HFA lending channels. Empower has been significantly enhanced to include correspondent lending functionality, assess loan quality and help mitigate risk. Today, lenders can use the omni-channel Empower loan origination system to support their retail, whole- sale, assumptions, home equity, consumer-direct, and correspon- dent lending business—all on a single platform. "Aligning with Black Knight's Empower for our Correspondent and HFA business serves our forward-looking vision of provid- ing innovative capabilities that advance the lending process and provide a better client experience," said Tom Wind, EVP, U.S. Bank. "Expanding our enterprise rela- tionship with Black Knight allows us to enhance our digital capa- bilities and customer experience throughout the entire homeown- ership cycle." U.S. Bank will also use Black Knight's artificial intelligence solution, AIVA, for document classification, data extraction, and exception management. AIVA is a cloud-based tool that uses ma- chine learning to automate certain tasks, performing them much faster and more accurately than humans can. By delivering greater automation, accuracy, and efficien- cy to the loan origination process, AIVA can help lenders complete repetitive processing tasks so that staff can be utilized for exception- based processing and enhancing customer satisfaction. Additionally, Empower is seamlessly integrated with Black Knight's industry-leading MSP servicing platform, which U.S. Bank uses to support its servicing operations. The tight integration of these two systems helps streamline the loan boarding process for greater efficiency, increased data integrity and reduced risk. This seamless servicing experience can also result in higher customer satisfaction levels and ultimately increase customer retention. "Enhancing Empower to fully support all lending channels is part of our vision to provide end-to-end support across the loan life cycle," said Anthony Jabbour, CEO, Black Knight. "By adding Empower to the number of our solutions U.S. Bank uses, they are well-positioned to realize the exponential value that comes from using multiple Black Knight products across the enterprise." "Lenders who don't have a mobile strategy will find themselves falling behind the ultra-competitive technology curve." —Jerry Halbrook, CEO, Volly

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