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36 | Th e M Rep o RT Special Advertorial Section lending Technology guide CORPORATE PROFILE LendingQB is an SaaS provider of 100 percent Web browser-based, end-to-end loan origination software offering residential mortgage banking organizations lean strategies for optimal performance resulting in faster cycle time and lower costs per loan. COmPAny hIsTORy LendingQB started in 2003 and was the first company to develop a fully Web browser-based loan origination system. In 2004, LendingQB released an automated underwriting and loan pricing engine, PriceMyLoan. Today, LendingQB is a full-service, centralized platform providing best practice work flow and ongoing redeployment. BusInEss LInEs, sERvICEs, And PROduCTs • Internet services • Technology products • Loan origination services • Document management/workflow systems • eMortgage solution providers KEy FEATuREs • Centralized, end-to-end LOS system (appraisal, title, DU forms provided within system) • Pre-approval letters within 24 hours • PriceMyLoan engine • Secure doc uploads—no more emailing • Loan comparison tool COmPETITIvE AdvAnTAgE • Provide strategies for best loan origination workflow • Customer service • 100 percent browser-based AddEd vALuE TO CLIEnTs • Lean Lending strategies help clients fully utilize LOS systems and shorten cycle time to six months • Redeployment every two years KEys TO suCCEss • Highly motivated and skilled staff • Adherence to its core principles • Commitment to a long-range purpose 2014 gOALs And sTRATEgIEs LendingQB continues to execute and evolve its strategy that resulted in more than 50 percent growth in 2013. IndusTRy AwARds, ACCOLAdEs, And mILEsTOnEs Mortgage Technology' s Top 50 Service Providers, 2013 sPECIALTy, ExPERTIsE, And quALITy COnTROL InITIATIvEs LendingQB specializes in developing and deploying solutions to help lenders reduce their mortgage origination costs. CLIEnT TEsTImOnIAL "You can have the best software in the world, but if you can't figure out how to use it, it's not going to work," said Greg Uttal, VP of lending at Ventura County Credit Union. "Support from your vendor is absolutely critical. If the support after one year isn't as good as the support in the first 90 days, that's a problem. I haven't found that to be the case with LendingQB. It's been consistent the entire two years we've been using them." AddITIOnAL InFO Lenders are changing LOS technology to reduce costs while ensuring compliance. This transitional period could take years before staff members have sufficient knowledge and experience with the new technology to create optimal workflow. LendingQB developed Lean Lending, a formula of technology combined with business strategy to help lenders operate at peak potential within six months instead of up to 36 months during the transition phase of acquiring new LOS technology. Lean Lending is a set of best practices providing lenders guidance on what their workflow should be given the LOS technology they have selected. The current average cost to originate a mortgage is $4,000 per loan file. The hard cost savings to a lender operating at peak potential is between $1,000 to $2,000 per loan file. Lenders are looking for operational efficiency improvements between 25 percent and 50 percent in reduction costs per loan. Most LOS vendors focus on the technology— LendingQB's Lean Lending strategy focuses on delivering results through its technology. The process of deploying, applying, and improving new technology is a huge, costly resource and drain on management, taking them away from important functions such as new business development. Lean Lending greatly reduces the burden on management by freeing them from having to create the best practices within its LOS, which shifts their focus on building opportunities to help drive new business. key personnel Binh Dang President Chris Anderson Chief Business Development Officer staffing 160+ contact information 3080 Bristol St. Suite 550 Costa Mesa, California 92626 Phone: 888.285.3912 Email: info@lendingqb.com web: lendingqb.com LendingQB