July 2016 - Lessons Learned

TheMReport — News and strategies for the evolving mortgage marketplace.

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4 | TH E M R EP O RT MTECH Genworth Debuts Underwriting Platform DUBBED GENIE, THE AUTOMATED SYSTEM WILL HELP SIMPLIFY OPERATIONS AND UPSHIFT EFFICIENCY. G enworth Mortgage Insurance, a subsidiary of Genworth Financial, Inc., announced the launch of GENie, a highly automated enterprise underwriting platform designed to streamline its operations and enhance underwriter productivity. According to Genworth, GENie automates manual underwriting processes such as document classification, data extraction, loan routing/assignment, and perfor - mance management, eliminating the need for underwriters to interface with multiple systems. "Innovation and technology that streamline our underwriting services remain a top priority for us," said Paul Gomez, SVP and COO, Genworth Mortgage Insurance. "GENie is the type of platform that allows us to continue offering industry-leading turnaround times and drive new efficiencies via automation, further enhancing Genworth's reputation as a mortgage insurance under - writing company determined to stay ahead of the technological curve and to make it even easier for our customers to do business." The platform, developed in conjunction with leading mortgage technology provider Tavant Technologies, will also improve workflow via a series of enhanced dashboards that more clearly demonstrate the progress of each individual underwriting application. "We're thrilled to have collaborated with Genworth in the development of GENie," said Hassan Rashid, EVP–Global Sales & Marketing, Tavant Technologies. "As the mortgage insurance industry continues to innovate, platforms like GENie will be key drivers in streamlin - ing operations and maximizing efficiencies." LendingQB Reboots MCT Interface THE UPGRADE WILL AUTOMATICALLY UPDATE INVESTOR COMMITMENTS DIRECTLY INTO THE PROVIDER'S LOS. L endingQB, a SaaS LOS solutions provider for the mortgage lending industry, announced that it has completed an enhanced interface to Mortgage Capital Trading (MCT), a capital markets management and advisory services company. According to the announce - ment, the interface automatically updates investor commitments performed by MCT directly into the LendingQB LOS, saving lenders time and increasing their operational profitability. LendingQB first released an interface to MCT's HALO-Link in 2013, which automatically trans - ferred loan pricing and pipeline data from the LendingQB LOS to MCT in order to improve the accuracy of hedge positions. Today, the two companies completed an enhancement to the HALO-Link interface that adds the capability for MCT to update the LendingQB LOS in real-time with key investor information, such as confirmation number, confirmation price and expiration date. The result is a comprehensive and efficient secondary marketing process that provides pricing and hedge risk transparency throughout the mortgage loan life cycle. "The enhanced HALO-Link interface with LendingQB is groundbreaking because we can now interact with our clients seamlessly in both directions," said Chris Anderson, Chief Administrative Officer at MCT. "On the hedge side, LendingQB gives us visibility into a lender's pipeline so that we know exactly how much coverage they need to have. On the commitment side, we can push investor data right into LendingQB, saving hours of labor and ensuring complete accuracy on loan delivery." A key component of the LendingQB LOS solution is the Plugged In for Performance Interfaces are innovated and connections are made as a host of industry heavyweights power up their operations.

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