MReport April 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 4 of 67

TH E M R EP O RT | 3 CO NTE NTS TH E M R EP O RT | 49 SPECIAL ADVERTISING SECTION Land GoriLLa oranGeGrid KEY PERSONNEL Todd Mobraten President and CEO Dustin Sauter CIO Adam Fitch CMO Michele McCoy SVP, Business Development Barry Owens VP, Business Development CONTACT INFORMATION Phone: 800.385.7726 Email: Web: CORPORATE PROFILE OrangeGrid's award-winning no-code technology framework helps companies digitize any business process workflow and seamlessly connect all their siloed, homegrown, and third-party legacy platforms within a single, intuitive interface. Business leaders feel handcuffed to antiquated technology systems due to excessive costs, risk, software development life cycle (SDLC), timeline delays, and productivity constraints. OrangeGrid eliminates SDLCs and empowers business leaders with the ability to achieve quick technology wins, eliminate technology migration risks, manage costs, and returns leadership time to tackling market–not system–challenges. COMPANY HISTORY OrangeGrid is the vision of two competing fintech pioneers who joined forces and set out to disrupt the financial services industry with the introduction of a revolutionary no-code workflow application for business process improvement. OrangeGrid has since built a team of the very best technologists and financial services process experts, who are capable of quickly understanding and automating even the most complicated business process rules, policies, and procedures. BUSINESS LINES, SERVICES, AND PRODUCTS The problem OrangeGrid solves: • Legacy Platforms leave IT backlogged with continual non-revenue system changes (stifling true enhancements and innovation). • SDLCs prohibit the flexibility required to adapt to business changes and carry out day-to-day tasks. • Lack of IT resources and dependency on individuals skilled solely in obsolete programming languages. • Traditional software development life cycles kill margins and the ability to compete The OrangeGrid solution: With OrangeGrid's award-winning development platform, codes are only used to process widgets, which can be repurposed and leveraged repeatedly, whatever the process or business case. The result is a robust and highly configurable framework delivering today's requirements with same-day configuration agility for the needs of tomorrow. Connecting/consolidating applications: • Work in a single environment • Gain configurable and reusable modules • Roll several applications into one environment • Legacy and third-party applications communicating seamlessly Build new applications: • Build it your way without compromise • Meet precise workflow requirements • Eliminate software development delays BENEFITS/FEATURES Features: • Automated workflows and tasks with built-in rules and roles • Interactive dashboards with key identifiers and filters • Instant data fields and form templates • Same-day implementation of both simple and complex business rules • API integrations and overlay technology to connect all client legacy systems Benefits: • Eliminate SDL and IT backlog delays • Reduce time to market on innovation • Automate manual tasks with digitized workflow • Lower costs and increase effectiveness COMPETITIVE ADVANTAGE OrangeGrid provides business leaders with new ways to innovate. It's not about more processing power, it's smarter processing. OrangeGrid tools fa- cilitate automated decisioning, cut out redundancies, and remove system limitations. OrangeGrid delivers the next generation technology that the mortgage industry so desperately needs. Solutions that quickly adapt to meet compliance demands in a regulatory environment, rapid process changes that minimize manual tasks and are priced for all-sized budgets. The result is a robust and highly configurable framework, meeting the demands of today's requirements, with the agility to meet future demands without delay. ADDED VALUE TO CLIENTS OrangeGrid's professionals are business process workflow experts, who are experienced in the mort- gage industry and speak the clients' language. • Experienced business analysts and project managers • Well versed in financial services best-practices, terminology, and compliance requirements • Experts in digitized workflow analysis and design • 24-hour support and systems service 14 HOW TECHNOLOGY'S SHIFTING THE INDUSTRY The buzzwords in the mortgage industry are changing as technology plays an increasingly important role in providing lenders with an edge over the competition. We look at what's changed and how the industry's adapting for a fintech future. 20 7 BRIGHT IDEAS ILLUMINATING MORTGAGE TECH From cryptocurrencies to AI, technology is developing at a rapid pace—learn from one mortgage veteran the best way to harness it in day-to-day operations. 24 SURVIVAL OF THE FITTEST As the industry enters post-crisis mode, there's a new phase of operational disruption on the horizon—deregulation. 32 THE MORTGAGE MAKEOVER With non-qualified mortgage products busting open the doors to homeownership, its time to dispel the myth that non-QM is the new subprime. SPECIAL SECTION 35 TECH GUIDE Your resource of the company's making a name for themselves with their forward-thinking tools to ease mortgage origination. DEPARTMENTS 4 MTECH Of Partnerships and Platforms 10 TAKE 5 Greg McBride, SVP and Chief Financial Analyst for 12 MCROWD Who's moving on and who's moving up in the industry TH E M R EP O RT | 43 SPECIAL ADVERTISING SECTION FirstClose Genworth MortGaGe insuranCe Corporation KEY PERSONNEL Rohit Gupta President and CEO Paul Gomez SVP, Operations Kevin McMahon SVP, Strategy and Business Intelligence Matt Young SVP, Sales John Clifford SVP, Commercial Operations STAFFING 500 Employees CONTACT INFORMATION 8325 Six Forks Road Raleigh, NC 27615 Phone: 800.444.5664 Web: CORPORATE PROFILE Genworth Mortgage Insurance, a subsidiary of Genworth Financial, Inc., is headquartered in Raleigh, North Carolina, and operates in all 50 states and the District of Columbia. Genworth MI works with lenders and other partners to help people responsibly achieve and maintain the dream of homeownership by ensuring the broad availability of affordable low down payment mortgage loans. COMPANY HISTORY Genworth has been providing mortgage insurance products and services in the United States since 1981. BUSINESS LINES, SERVICES, AND PRODUCTS Genworth offers a full complement of mortgage insurance products and services for lenders to help families achieve the dream of homeownership: • Competitive rates and guidelines • Technology that introduces efficiencies that simplify the origination process • Fast turn times—nearly 100 percent of loans are turned in eight hours or less • Expert guidance from Genworth's ActionCenter ® , regional underwriters and appraisers • Seasoned, knowledgeable sales, underwriting, and customer training teams • Innovative products like Homebuyer Privileges ® , Homebuyer Education and Homeowner Assistance programs KEY FEATURES/BENEFITS Along with its seamless rate quote and delegated ordering interfaces, Genworth has full, non-delegated integrations solutions with some of the largest Loan Origination Software (LOS) providers in the industry, including Ellie Mae ® (Encompass ® ), Black Knight (Empower ® ), and Mortgage Builder ® . These interfaces allow customers to deliver full loan packages (initial and trailing documentation) to Genworth, as well as receive their MI commitment, without navigating away from their LOS. Genworth also recently launched a new website,, that allows lending professionals to visually track every part of the MI application process through close. The site features reduced data entry for fast, easy submissions of MI applications, drag and drop for multiple document uploads simultaneously, an enhanced Rate Express ® interface and MI application search capabilities. The user experience is also improved through mobile- friendly/responsive design, enhanced site search capabilities, improved access to training offerings, preview capabilities for images and documentation, and step-by-step contextual help. COMPETITIVE ADVANTAGE Embracing powerful technology solutions that make mortgage processes easier for customers is very important to Genworth, and the company intends to stay ahead of the curve. In fact, Genworth has an identity in the industry for its exceptional service levels in underwriting and its innovations in technology, giving customers access to the fastest, easiest and most accurate ways to order mortgage insurance. Quality interfaces with the best LOS providers in the industry allow customers to order MI seamlessly, while industry-leading underwriting turn times ensure they receive a timely response that facilitates loan closings. Partnering with leading product and pricing engines such as Optimal Blue, in addition to Genworth's own rates and comparisons tool, Rate Express, via desktop and mobile, give loan officers instant access to accurate rate quotes. Identifying and building strategic partnerships with technology companies that are creating disruption and driving a wave of new capabilities enable customers to give their borrowers more visibility into every step of the origination process and improve responsiveness. ADDED VALUE TO CLIENTS As an MI partner, Genworth remains committed to giving customers a great experience in every interaction and providing valuable assistance at every turn. By continually raising the bar on technology and advancing in-house underwriting capabilities, Genworth has strengthened its underwriting service levels so it can offer the most effective solutions to its customers. Genworth's underwriting decisions are also faster and more accurate because they are based on validated data stemming from advancements it has made in corresponding risk management technologies. Having more sophisticated data at its fingertips has helped make Genworth smarter about the risk it puts on its books so it can help customers serve more homebuyers. KEYS TO YOUR SUCCESS Genworth's team likes to focus on its bigger purpose of getting people in homes and keeping them there. To ensure long-term success on this front, the company believes that innovation is critical. As its business evolves, creating new solutions and streamlining the processes for originating and underwriting mortgages will remain a strategic focus for Genworth. By taking a bold and aggressive approach, Genworth is making significant strides toward enhancing customer relationships and creating a better customer experience overall. Adapting your business to technology is vital—as digital advancements remain a crucial ingredient to thriving and staying ahead of the competition in the mortgage sector. From streamlining business processes, keeping costs down, and remaining compliant in today's regulatory environment, the industry's top technology providers are a critical component and will help drive the missions and aspirations of both consumers and professionals in the mortgage sector. In the following pages, we introduce some of the most innovative technology companies that can help you set your business up as the perfect partner for this initiative. 2018 Technology company guide EMBRACING OUR DIGITAL WORLD P R E S E N T S TH E M R EP O RT | 35

Articles in this issue

Links on this page

Archives of this issue

view archives of TheMReport - MReport April 2018