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Costa Mesa
New Integration Performs Continuous Automatic Mortgage Compliance Audits from the Point-of-Sale Through Closing
June 26, 2012
COSTA MESA, Calif., June 26, 2012 (SEND2PRESS NEWSWIRE) — LendingQB, a provider of seamless mortgage lending technology, announced that it completed an integration with ComplianceEase, the leading provider of mortgage compliance and risk management solutions. LendingQB integrated ComplianceEase’s ComplianceAnalyzer® product with its end-to-end loan origination system (LOS). The solution automatically runs continuous real-time audits throughout the origination lifecycle of the loan to ensure compliance with federal, state, and municipal consumer credit regulations.
Using this unique integration, lenders can conduct compliance audits as early as the point-of-sale (POS), thus catching and addressing compliance issues much sooner in the origination process to save time and money. Most systems initiate compliance audits closer to the loan closing process, rather than at the POS where loan officers work. What’s more, LendingQB and ComplianceEase have enhanced the integration so that audits automatically run behind the scenes in real-time up until the point the loan closes. While most mortgage compliance checks must be initiated manually, this integration is automatic and requires no human intervention.
Also unique to the integration is that it’s completely transparent to users working in LendingQB’s Web-based LOS platform. Whether it’s a loan officer, processor, compliance officer or closing agent, employees never have to leave the application they are accustomed to using. As a result, the lending workflow remains seamless and disruptions and manual interventions are eliminated.
“At LendingQB, we are ultra-focused on making the lending workflow truly seamless to eliminate manual touch points and the need to jump to another application to complete various tasks,” said Binh Dang, president of LendingQB. “We’re very selective about our integration partners; we wanted to take full advantage of the Web services that ComplianceEase developed so we could achieve absolute transparency. With this integration, a user doesn’t need to remember to run checks because ComplianceAnalyzer is always running in the background. We invested significant development resources to achieve this level of integration.”
“These days, it’s not common for mortgage lenders to implement compliance checks continuously throughout the origination process,” said Jason Roth, senior vice president of ComplianceEase. “The integration that we developed with LendingQB takes compliance assurance to a new level. The audits are seamless within the LOS, performed much earlier in the origination process, and constantly executed without the need for users to think about them.”
About LendingQB:
LendingQB is a Costa Mesa, Calif.-based company that specializes in loan origination technology solutions and services for the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan origination platform. The solution is designed to meet the needs of all types of mortgage lenders-large or small, wholesale or retail, correspondent or Internet-based-with specialized tools that are targeted, customizable and flexible. LendingQB uses a consultative technology assessment approach before engaging with new clients, and places a strong emphasis on the utilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizational performance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visit http://www.lendingqb.com/.
About ComplianceEase:
ComplianceEase®, a division of LogicEase Solutions Inc., headquartered in the Silicon Valley region of San Francisco Bay Area, is a leading provider of risk management solutions to the financial services industry. ComplianceEase’s patented platform includes ComplianceAnalyzer® – the mortgage industry’s most adopted automated compliance solution. ComplianceEase combines industry and regulatory compliance expertise with innovative technology to power end-to-end risk management solutions to assist financial institutions achieving regulatory compliance, mitigating operational risk, improving efficiencies and enhancing profitability. ComplianceEase’s significant and growing client base includes four of the top five mortgage lenders in the nation, financial institutions, service providers, law firms, and regulators. ComplianceEase’s automated compliance solutions have been adopted as e-Exam tools by state banking and mortgage regulators, through the Conference of State Bank Supervisors. For more information visit http://ComplianceEase.com or call 1.866.212.Ease.
News Source: LendingQB :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at the Send2Press for Journalists Portal: http://Send2PressNewswire.com .
Small Business Marketing Strategist Kelly Weppler Creates Summer School for Small Business
June 5, 2012
COSTA MESA, Calif., June 5, 2012 (SEND2PRESS NEWSWIRE) — Kelly Weppler of WH & Associates (www.whandassociates.com), an Orange County marketing firm, has announced that she will be presenting several key educational sessions for small business owners at The Microsoft Store at South Coast Plaza in Costa Mesa, Calif. As one of six Duct Tape Marketing Master Consultants, Kelly writes and speaks about helping small business marketing. Weppler has created a five sessions targeted to help small businesses take on smaller marketing activities in their business with this program that begins on Friday, June 8, 2012.
With The Summer School for Small Business program, Weppler has created some action items and accountability to help small business owners move forward on marketing their business. Each session will provide ideas and an action plan so that participants can work on executing those ideas immediately. The program was designed such that participants could choose to attend one session or several throughout the summer. Topics include lead nurturing, public relations for small business, building a client experience, and creating a marketing routine that’s designed to create discipline.
“Business owners can go to an information or educational event every day of the week, however, if you never do anything with that information, it’s really a waste of time. With an action plan and some accountability, I’d like for participants to actually execute some of these simple ideas,” said Weppler.
Committed to community and business development The Microsoft Stores features a fully equipped theater in an interactive high tech environment where they encourage public play, networking and development opportunities for all. This environment allows for community and business partners to conduct public or private workshops, presentations, and other events on various community, business and educational topics by leveraging its technology, products and services to deliver its message.
About WH & Associates:
Kelly Weppler works with businesses to first build a sound strategy and then develop a marketing routine around that strategy to create momentum and business growth. She is a frequent speaker for professional associations, publishes a blog at www.whandassociates, and has contributed written articles to Women’s Professional Magazine and Black OEO Journal. Located in Orange County, Calif, she serves clients across the United States and Canada.
For more information, visit: http://www.whandassociates.com .
News Source: WH and Associates :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .
LendingQB Releases White Paper to Help Lenders Make Sound Technology Decisions
May 30, 2012
COSTA MESA, Calif., May 30, 2012 (SEND2PRESS NEWSWIRE) — LendingQB, a provider of seamless mortgage lending technology, announced that it published the availability of a free white paper designed for lenders that are considering replacing their loan origination system (LOS). The paper addresses the challenges lenders face when evaluating mortgage technologies and outlines a strategy to assess their existing technology weaknesses, identifying areas for improvement.
Entitled “The Five Steps to Making Better Technology Decisions,” the white paper recommends conducting an Enterprise Process Assessment (EPA) of lending operations and workflows. According to the paper, all too often lenders buy technology predominantly based on features, failing to perform a critical deep dive analysis of their workflow to effectively model and measure process enhancements using standards and best practices.
The white paper stresses that before buying technology, lenders must establish an objective, well-defined, comprehensive process in order to overcome the many challenges associated with complex technology evaluations. Executing an EPA provides a clear understanding of and roadmap for how to select technology that reduces cost per loan, improves profitability, maximizes employee productivity and decrease the number of manual touch points throughout the workflow.
Key points in the white paper:
* Overview of the mortgage technology challenges lenders face in today’s market;
* Determining the technology lenders really need, avoiding what they don’t need;
* How to arrive at an evaluation readiness checklist;
* Identifying vaporware and avoiding feature buying traps;
* Using metrics to achieve a high ROI;
* The importance of a seamless workflow;
* How to reduce cost per loan and increase profitability.
Interested parties can download the free white paper from LendingQB’s website at www.lendingqb.com.
About LendingQB:
LendingQB is a Costa Mesa, California-based company that specializes in loan origination technology solutions and services for the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan origination platform. The solution is designed to meet the needs of all types of mortgage lenders-large or small, wholesale or retail, correspondent or Internet-based-with specialized tools that are targeted, customizable and flexible. LendingQB uses a consultative technology assessment approach before engaging with new clients, and places a strong emphasis on the utilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizational performance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visit www.lendingqb.com.
News Source: LendingQB :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .
Omega Financial Services Signs with LendingQB to Use its All-In-One, Cloud-Based LOS
May 23, 2012
COSTA MESA, Calif., May 23, 2012 (SEND2PRESS NEWSWIRE) — LendingQB, a provider of seamless mortgage lending technology, announced that Omega Financial Services, Inc., a retail and wholesale mortgage banker, has implemented its comprehensive Web-based loan origination system (LOS) to automate each of its business channels. LendingQB’s platform will reduce Omega’s cost per loan, maximize productivity across operations and decrease its existing technology costs.
Acting as an advisor to Omega, Joe Cilento, CPA, CMB, a mortgage industry veteran and consultant, guided the selection and implementation of Lending QB’s LOS platform after performing a company-wide review of operations.
“I have conducted numerous mortgage technology evaluations and implementations; the rollout of LendingQB’s Web-based platform was one smoothest I’ve been involved with,” said Cilento. “The extensive level of support that LendingQB provided and their ability to easily configure tailored workflows are the main reasons Omega’s implementation was so successful.”
LendingQB’s LOS seamlessly integrates Omega’s entire workflow and lending functions to enable the straight through processing (STP) of loans. From the point-of-sale (POS) through closing and funding, LendingQB consolidates all of Omega’s lending activities onto a single platform that creates a true end-to-end experience. Regardless of employees’ roles, LendingQB contains Omega’s users to a single database and software environment to ensure the same data is being used in different departments. The result is fewer manual touch points, which turns Omega’s lending practices into a profit optimization workflow.
“We were previously using a well-known LOS that has been trying to assemble an end-to-end solution, but we found the system inadequate to handle our needs from soup-to-nuts so we began looking for a solution that could,” said Armando Morell, information systems director at Omega Financial Services, Inc. “We retained mortgage consultant Joe Cilento to help us perform the evaluation process and concluded that most LOSs try to achieve an end-to-end solution by way of integrating with multiple best-of-breed vendors because they are lacking key functionality in a number of different areas. Of all the solutions we looked at, there wasn’t an all-in-one Web-based LOS on the market that could seamlessly automate every single area of the lending process like LendingQB is able to.”
Once Omega’s LOs and brokers run product and pricing scenarios in LendingQB’s retail or broker portal, they can pull credit and the automated underwriting system (AUS) returns an instant, accurate decision that analyzes investors’ entire underwriting manuals, which carries the same weight as a human underwriter’s decision. The loan then seamlessly moves through Omega’s workflow with minimal human intervention. Omega says the efficiencies gained using LendingQB’s end-to-end LOS will optimize employee performance, reduce their cost per loan and also attract top tier sales talent. In addition, Omega’s LOs, brokers and AEs can use LendingQB’s mobile application for smart phones, which allows them to check rates, return product eligibility and pricing, and manage their pipeline from the field.
“Paramount to running an efficient lending operation is the seamless connection of every workflow the lender uses to eliminate unnecessary human interaction and thus improve productivity,” said Binh Dang, president of LendingQB. “The only way to achieve this is to implement an all-in-one platform that uses a single database and is discriminating with outside integrations, as too many interfaces and separate databases creates data integrity issues and hampers efficiency and accuracy.”
LendingQB’s platform is comprised of LO, broker, and consumer direct point-of-sale Web portals for all lending channels; product and pricing engine; proprietary AUS; loan processing; electronic documents, closing; secondary marketing; and interim servicing. LendingQB also accompanies business intelligence (BI) and data analytics functionality along with detailed reporting that helps lenders locate and translate their data into actionable information, enabling them to make informed business decisions that establishes a competitive advantage and leads to greater profitability.
About LendingQB:
LendingQB is a Costa Mesa, California-based company that specializes in loan origination technology solutions and services for the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan origination platform. The solution is designed to meet the needs of all types of mortgage lenders-large or small, wholesale or retail, correspondent or Internet-based-with specialized tools that are targeted, customizable and flexible. LendingQB uses a consultative technology assessment approach before engaging with new clients, and places a strong emphasis on the utilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizational performance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visit http://www.lendingqb.com.
About Omega Financial Services, Inc.:
Omega Financial Services, Inc. is a full service, Non-Supervised, Multi-State Direct Residential and Commercial Lender and Wholesaler. With over 25 years of experience, Omega’s goal has been to assist clients in owning a home, acquiring a business, or an investment property by offering a wide array of loan programs and giving attention to detail. The company is dedicated to connecting every client’s dream of homeownership with the required financial assistance. Omega’s various loan programs allow it to cater to individual needs while providing outstanding service. Omega became the ideal lender through the use of strong customer relationship management and principles rooted in an ethical foundation. For more information about Omega Financial Services, Inc. please call 908-933-0253 or visit http://www.fhaomega.com.
About Joe Cilento, CPA and CMB:
Cilento Mortgage Advisory Corp. assists mortgage lenders looking to enhance product development, improve operations capabilities, implement IT and LOS systems, and improve secondary market execution. The firm provides assistance with regulatory compliance and QC practices and also represents both buyers and sellers interested in joint ventures and merger & acquisition financing.
Cilento has over 25 years of experience successfully assisting companies looking to access the securities markets through direct issuances of GNMA/FNMA MBS securities. Client companies may require assistance with obtaining GNMA/FNMA approval. Services continue after agency authority is obtained and may include assistance with developing the in-house resources required to pool and issue MBS securities and become a GNMA/FNMA direct seller/servicer. For more information about Cilento Mortgage Advisory Corp., please call 203-797-8733 or visit http://www.joecilento.com.
Media Contacts:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com
Armando Morell
Omega Financial Services, Inc.
908-933-0253, ext. 301
info@omegaloans.net
News Source: LendingQB :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .
iServe Realizes Significant Productivity Gains and Cost Reductions Using LendingQB Platform
April 11, 2012
COSTA MESA, Calif., April 11, 2012 (SEND2PRESS NEWSWIRE) — LendingQB, a seamless mortgage lending platform provider, announced that iServe Residential Lending, LLC, a retail mortgage banker, has reported a dramatic increase in employee productivity, slashed technology costs, and reduced costs per loan since implementing LendingQB. iServe selected LendingQB approximately a year ago because it eliminated having to use multiple platforms, databases and integrations.
“We were previously using three different systems that were technically integrated together, but they still had a number of issues,” said Michael Wilson, director of operations at iServe. “The system-to-system communication was poor, integrations often required employees to re-key data, and we had to call three different vendors when we needed technical support. This was hampering our operational performance. We came to the conclusion that we needed to look for a single provider that could efficiently do the job of these three vendors.”
During the diligence process, iServe was provided with the opportunity to test drive the LOS unencumbered from that of a traditional sales-guided demo, allowing the lender to run a loan through the entire LendingQB system from start to finish. Dubbed the “Guest Suite Invitation,” lenders are able to work with the solution in an isolated environment to ensure it meets their specific needs.
“Working successfully in LendingQB’s Guest Suite Invitation empowered us with the insight to ensure the platform would work for us,” said Wilson. “Immediately after implementing LendingQB, we were able to completely eliminate any re-keying of data, realize greater employee productivity via tighter workflows, and work towards being paperless in the same system. This reduces our cost per loan by an estimated 30 percent and optimizes every single area of our lending practice, from origination through secondary marketing and interim servicing. The improved communications and data integrity of being on one platform has substantially improved our operations.”
“We don’t consider ourselves to be just another loan origination system (LOS) vendor that loosely uses the ‘end-to-end’ buzzword,” said Binh Dang, president of LendingQB. “We like to move away from this overused term and instead refer to our platform for what it really is – a seamlessly connected profit optimization system that is focused on the lender’s business first and foremost. The bottom line should be the bottom line. We advise our clients on how to develop their workflows to reduce cost per loan and increase productivity. That’s how we help clients ‘win the lending game’ in ways they never knew were possible. Sure, our platform is end-to-end, but it’s also much more.”
Key to the LendingQB platform:
* 100 percent Web-based platform delivered as SaaS and residing in the cloud environment reduces hard technology costs by 70 percent;
* All-in-one platform eliminates many feeble best-of-breed integrations, lowering cost per loan by 25 – 30 percent;
* Built-in AUS increases pull-through rate by 40 percent or more;
* Seamlessly connected workflows and transparency for all lending functions;
* Single database eliminates the errors associated with the re-keying of data and the system-to-system communication issues often encountered when using multiple platforms;
* Proven to reduce cost per loan, increase productivity and optimize operations;
* Sophisticated analytics that utilizes a lender’s data to drive business intelligence (BI);
* Responsive customer service and development;
* Highly scalable, flexible and configurable.
Notable is that LendingQB was introduced to the marketplace in December of 2011, but select lenders have been successfully using the platform while LendingQB continued to add ancillary functionality in preparation for its formal launch. Clients were instrumental in working closely with LendingQB to perfect the platform as an all-in-one solution that automates the entire lending process. The result was a tested, tried and true 100 percent Web-based platform that seamlessly connects all lending workflows with complete transparency.
About LendingQB:
LendingQB is a Costa Mesa, California-based company that specializes in loan origination technology solutions and services for the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan origination platform. The solution is designed to meet the needs of all types of mortgage lenders-large or small, wholesale or retail, correspondent or Internet-based-with specialized tools that are targeted, customizable and flexible. LendingQB uses a consultative technology assessment approach before engaging with new clients, and places a strong emphasis on the utilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizational performance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visit http://www.lendingqb.com .
About iServe Residential Lending, LLC:
iServe Residential Lending, LLC is a multi-state residential mortgage banker. iServe Residential Lending, LLC is a U.S. Department of Housing and Urban Development (HUD) approved, Federal Housing Administration (FHA) lender with direct endorsement (DE) authority. iServe originates FNMA/FHLMC conforming, FHA, VA, USDA and Jumbo loans through their retail branch offices. For more information see: http://www.iservelending.com .
Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com.
News Source: LendingQB :: This press release was issued on behalf of the news source by Send2Press® Newswire, a service of Neotrope®. View all current news at: http://Send2PressNewswire.com .
