MT Top Tech Savvy Lenders

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Tech Savvy Lenders | .NET Framework | MMC Exams

mortgage–technology.com

ToughQuesTions

For

Bill Beckmann seeks to tackle challenges

mers

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4

Contents12 The New Man at MERS

By Austin KilgoreMortgage industry veteran Bill Beckmann

says he can lead embattled Merscorp through its tough times.

COVER STORY

Features Columns

4 Path to Compliance By Peter Ku Technology that promotes accurate and well-managed data leads to mortgage compliance.

8 Online Self-Servicing By Umesh Verma Web portals can empower borrowers to work with servicers.

Inside

3 Editor’s Note A sneak peak of the upcoming Mortgage Technology Conference.

36

3024 Top Tech-Savvy Lenders

MT recognizes the best tech users in the business.

30 Architecting Mortgage Software

By Scott Kersnar The .NET framework has become

the foundation of many platformsand the impetus for new innovation.

36 Compliance Checklist By Ted Cornwell New e-exams are set to revolutionize oversight.

� Mortgage Technology » September 2011

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THE AGENDA IS STARTING TO FIRM UP for our Mortgage Technology Conference Nov. 14-16 at the Doral Resort in Miami and it promises to be a really great show. We’re all happy here to be resuming our well-respected MTC series after a couple of years away due to the downturn.

Highlights will include a social media workshop, and panels on mobile technolo-

gy, compliance and e-warehouse lending. And, we are attempting to get many of our Mortgage Technology advisory board members in the same room for a keynote session. We meet with these folks a couple of times a year and get excellent feedback from them. At the conference, they won’t be talking about MT, but the future and direction of mortgage technology, and you will be as impressed with them as we are.

Of course, networking is a key reason people come to conferenc-es and we’ll be providing plenty of opportunity for that, through our exhibit hall and a couple of day-end receptions. It will be good to see old friends and meet new ones, and to see which of our friends has a new company name on his/her badge!

There is information in this issue on how to RSVP for our annual Mortgage Technology Awards, which will be held Oct. 9 at the Hyatt Regency in Chicago during the Mortgage Bankers Association’s annual conference. Please take a moment to let us know you’ll be coming. Our awards nights are special occasions and you’ll want to be there.

Finally, this issue has our yearly listing of tech-savvy lenders. There are more and more of these smart lenders all the time. We hope to have many of them with us at the MT Awards presentation. See you in Chicago, and see you in Miami.

MARK [email protected]

EDITOR’SNOTE

Editorial Director Mark Fogarty 212-803-8226 Managing Editor Austin Kilgore 212-803-8242 Senior Correspondent Scott Kersnar 707-869-0136

Copy Editor Glenn McCullomReporters Bonnie Sinnock

Amilda Dymi Art Director Andy Ayala

Group Editorial Director, Banking Richard Melville 212-803-8679VP & Group Publisher Tim Murphy 212-803-8760

Northeast Adv Director Steve Schloss 212-803-8829Midwest/Southeast Adv Managers John Cahill 773-519-5092

West Adv Managers Mark Majors 312-282-8312Online Adv Coordinator Justin Nathan 212-803-8671

Marketplace Manager Steve Gallego 212-803-8822

Exec Director of Manufacturing Stacy Ferrara Production Manager Eugene MocciaMarketing Director /

Banking & Capital Markets Groups JeaNNie NguyenDistribution Manager Michael Candemeres

Customer Service 800-221-1809Reprint Services Denise Petratos

212-803-6557 Fax 212-843-9624

CEO Douglas J. ManoniCFO Richard Antoneck

EVP and Managing Director, Karl Elken Banking and Capital Markets EVP and Managing Director, Bruce Morris Professional Services and Technology EVP, Chief Content Offi cer David Longobardi EVP, New Business Development Adam Reinebach SVP, Conferences John DelMauro VP, Finance Jamie Brokowsky Senior Director, Human Resources Ying Wong

SourceMedia, Inc., One State Street Plaza, 27th Floor, New York, NY 10004TEL: 212-803-8200 FAX: 212-564-8897

Subscription Inquiries: 800-221-1809 or fax 212-803-1592e-mail addresses use fi [email protected]

Annual Subscription price $89Canadian: $99 Foreign: $119

Mortgage Technology is available on-line through the following services: Information Access, 415-378-5000; Mead Data Central, 513-865-6800;

UMI, 313-761-4700

POSTMASTER: Send address changes to Mortgage Technology/SourceMedia, Inc. P.O. Box 530 Congers, NY 10920.

MORTGAGE TECHNOLOGY (ISSN 1098-4038). Volume 18, Number 4. Printed fi ve (5) times a year with issues in February, March, July, September, and October by SOURCEMEDIA, INC., One State Street Plaza, 27th Floor New York, NY 10004. Subscription price: $89 per year in the U.S.; $99 in Canada; $119 for all other countries. Periodical postage paid at New York, NY and additional U.S. mailing offi ces. POSTMASTER: Send address changes to MORTGAGE TECHNOLOGY/ SOURCEMEDIA, INC., P.O. Box 530 Congers, NY 10920. For all subscriptions, renewals, address changes or delivery service issues contact our Customer Service department; email [email protected]; or (800) 221-1809 or (212) 803-8333; fax (212) 803-1592; or send correspondence to Customer Service, MORTGAGE TECHNOLOGY/SOURCEMEDIA, INC., One State Street Plaza, 27th Floor, New York NY 10004. Send editorial inquires to MORTGAGE TECHNOLOGY, One State Street Plaza, 26th Floor, New York, NY 10004. MORTGAGE TECHNOLOGY is available online via Information Access (415-378-5000), Mead Data Central (513-865-6800), and UMI (313-761-4700). For permission to Reprint Published Materials, call (800) 367-3989 or (212) 803-8367. Those registered with the Copyright Clearance Center (222 Rosewood Drive, Danvers, MA 01923) have permission to photocopy articles. The fee is $10 per copy. Copying for other than personal use or internal use is prohibited without express written permission of the publisher. © 2011 Mortgage Technology and SourceMedia, Inc. All rights reserved.

Text is printed on 100% Recycled Paperwith minimum 85% Post Consumer Waste

Tim Anderson Lender Processing Services

Brian Boike FIS GlobalBrenda Clem

Roger Gudobba Compliance Systems

Michael HammondNexLevel Advisors

Patrick Hartford Quicken Loans

Scott SternLenders One

Kim WeaverFiserv

John WalshDataQuick

David ZugheriEnvoy Mortgage

ADVISORY BOARD

Firming Up

www.mortgage-technology.com �

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24 Mortgage Technology » September 2011

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S A V V YLENDERS

Mortgage Technology’s annual list of Top Tech-Savvy Lenders com-mends lenders that use technology to improve their processes, provide exceptional customer service and increase mortgage business.

But this year’s list is different than the Tech-Savvy Lenders of years’ past. For the fi rst time, Mortgage Technology accepted nominations for the award.

Many lenders nominated them-selves, eager to show off their tech know-how and prowess. In addition, a number of vendors took the op-portunity to nominate their lender clients for recognition.

The award recognizes lenders that have a commitment to using sound technology and regularly implementing new innovations to produce marked business improvements.

Another new feature of this year’s list is the 2011 Top Tech-Savvy Lend-ers will be specially invited to attend the Mortgage Technology Awards Cer-emony on Oct. 9 in Chicago, where they will be recognized for their re-cent accomplishments.

MT recognizes the best tech users in the business.

www.mortgage-technology.com 25

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360 Mortgage group360mtg.com

The website for wholesale lender and mortgage bank 360 Mortgage Group serves as a central hub for brokers, giving them up-to-date rate information. It’s also a portal to con-nect brokers with underwriters using an online chat tool. After the discus-sion has concluded, the chat tool au-tomatically sends an email transcript of the communication.

Austin, Texas-based 360 Mortgage Group said it’s website can connect brokers with the FHA Connection por-tal and has developed its systems to be compatible with the Windows Mobile and Apple iOS operating systems.

BB&tbbt.com

BB&T has an online mortgage store-front to complement its more than 1,800 branch locations through the Southeast. The Winston-Salem, N.C.-based depository provides real estate agents with online mortgage tools that help local loan officers build referral business in their communities.

It is also developing proprietary mortgage technology, including mo-bile apps, to further automate its processes and improve its operation.

BenchMarkbenchmark.us

Plano, Texas-based Benchmark has a social media staff for online promo-tions, including YouTube videos. Loan officers also have personal websites.

Its LOS has an integrated CRM tool, which helps loan officers manage leads and marketing campaigns. Bor-rowers and referral partners can also track pending loan status online.

cashcall Mortgagecashcall.com

CashCall Mortgage recently imple-mented new compliance technology to conduct automated reviews of its loan files, which improves regulatory compliance. The mortgage bank also uses the compliance reviews as a tool to improve staff training.

Anaheim, Calif.-based CashCall Mortgage also uses an electronic mortgage document management platform to keep the origination pro-cess paperless up until the loan goes to closing. CashCall completes loan applications either online or over the phone and is working toward adopt-ing full e-mortgage implementation.

cendera Fundingcenderafunding.com

Loan officers at Fort Worth, Texas-based Cendera Funding each have their own website for borrowers to submit applications, use loan cal-culators and pay for appraisals and other fees.

The retail and correspondent mortgage banker uses Google Busi-ness Apps for email communication, reducing server storage needs and improving communication between loan officers and underwriters.

cMg Mortgagecmgfs.com

CMG Mortgage has a warehouse line of credit exclusively dedicated to funding e-mortgages.

Through a unique partnership with Cooper River Financial and Fannie Mae, loans originated on this line are electronically transferred to Cooper River prior to final delivery to Fannie Mae, the first such arrange-ment in the mortgage industry.

San Ramon, Calif.-based CMG is also migrating to a virtual desktop infra-structure that uses cloud technology to reduce hardware and upgrade costs.

envoy Mortgageenvoymortgage.com

Envoy Mortgage takes advantage of multiple technology-driven re-porting dashboards to conduct real-time status reporting of operations at its 115 branches. Borrowers can complete applications online. In ad-dition, automated alerts help loan officers and managers track current loan activity in the pipeline.

Houston-based Envoy also has a Web-based CRM platform to keep in touch with borrowers for three years after loan closing.

First centennialMortgage corp.

gofcm.com

First Centennial Mortgage imple-mented new POS and doc manage-ment technology, enabling its back of-fice to go paperless up to closing.

top tech savvy lenders

Aurora, Ill.-based First Centennial said that incoming faxes are automatically digitized and delivered to employees’ desktops. When necessary, outbound faxes can be sent from computers as well. Settlement services are ordered online. The retail and correspondent mortgage bank originates loans in eight states.

FirstMortgage

McLean, Va.-based retail and wholesale mortgage lender First Guaranty Mortgage Corp. has spent the past two years overhauling its technology capabilities and operations strategy to address bottlenecks in the origination process.

New LOS and PPE technology decreases touch points in the origination process to improve turn times and broker relationships.

Flagstar Bank

Flagstar is building on its successful Web-based wholesale lending operation with a push into the online retail channel. The Troy, Mich.-based depository has extensive homegrown software applications, including its document management and tracking platform that is sold to other lenders through sister company DocVelocity.

Flagstar also employs various SEO strategies and advertises mortgage rates on a variety of platforms, including Google and Bankrate.


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GaGecmgfs.com

CMG Mortgage has a warehouse line of credit exclusively dedicated to

Through a unique partnership with Cooper River Financial and Fannie Mae, loans originated on this line are electronically transferred to Cooper River prior to final delivery to Fannie Mae, the first such arrange-ment in the mortgage industry.

San Ramon, Calif.-based CMG is also migrating to a virtual desktop infra-structure that uses cloud technology to reduce hardware and upgrade costs.

nvoy MortGaGeenvoymortgage.com

Envoy Mortgage takes advantage of multiple technology-driven re-porting dashboards to conduct real-time status reporting of operations at its 115 branches. Borrowers can complete applications online. In ad-dition, automated alerts help loan officers and managers track current loan activity in the pipeline.

Houston-based Envoy also has a Web-based CRM platform to keep in touch with borrowers for three years

First Centennial e Corp.

gofcm.com

First Centennial Mortgage imple-mented new POS and doc manage-ment technology, enabling its back of-fice to go paperless up to closing.

top teCH savvy lenDers

Aurora, Ill.-based First Centennial said that incoming faxes are auto-matically digitized and delivered to employees’ desktops. When neces-sary, outbound faxes can be sent from computers as well. Settlement services are ordered online. The re-tail and correspondent mortgage bank originates loans in eight states.

First Guaranty MortGaGe Corp.

fgmc.com

McLean, Va.-based retail and wholesale mortgage lender First Guaranty Mortgage Corp. has spent the past two years overhauling its technology capabilities and opera-tions strategy to address bottlenecks in the origination process.

New LOS and PPE technology de-creases touch points in the origina-tion process to improve turn times and broker relationships.

FlaGstar Bankflagstar.com

Flagstar is building on its success-ful Web-based wholesale lending op-eration with a push into the online retail channel. The Troy, Mich.-based depository has extensive homegrown software applications, including its document management and tracking platform that is sold to other lenders through sister company DocVelocity.

Flagstar also employs various SEO strategies and advertises mortgage rates on a variety of platforms, in-cluding Google and Bankrate.

GooDMortGaGe.CoMgoodmortgage.com

Online lender Goodmortgage.com takes applications online and uses an automated system for product and pricing, customer relationship management and loan officer assign-ments of new files.

Charlotte, N.C.-based Goodmort-gage.com advertises its loan rates on the Zillow and Google mortgage rate shopping portals. In addition, bor-rowers can set up automated rate watch alerts to take advantage of po-tential good deals.

HoMetown lenDinG/Dan keller

hometownlending.usmymortgageguydan.com

Everett, Wash.-based mortgage bank Hometown Lending empow-ers its loan officers to incorporate technology in their business, like the comprehensive social media strategy of Tech-Savvy Lender Dan Keller.

His website includes information for consumers about the mortgage process, mortgage calculators, videos, connections to his social network and an online mortgage application tool.


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TOP TECH SAVVY LENDERS

Half of the loans Keller closed in 2010 were e-mortgages. He builds re-ferral business with real estate agents and homebuilders by sharing tips and tricks for using technology to le-verage time and marketing budgets.

INLANTA MORTgAgEinlanta.com

Inlanta Mortgage uses Google Business Apps, including the Google Groups forum. One feature allows employees to privately discuss loan scenarios or other private matters, while another allows employees to communicate broadly on loan pro-gram information, industry news and update staff on current under-writing turn times.

The Brookfield, Wis.-based mort-gage bank also makes extensive use of its PPE technology and is actively pursuing e-mortgage functionality.

LEADERONEFINANCIAL CORP.

leader1.com

The 32 locations of mortgage bank and correspondent lender LeaderOne uses its website, CRM software and a PPE to generate mortgage leads.

The Overland Park, Kan.-based lender recently interfaced its exist-ing origination systems with its new document management system.

LeaderOne originated 5% of its 2010 volume as full e-mortgages. Its future plans include the use of on-line videos to better market and con-nect with borrowers.

MICHIgAN MuTuALmichiganmutual.com

Michigan Mutual uses an electron-ic document management platform to keep all of its loans paperless up until the closing desk.

The Southfield, Mich.-based whole-sale lender said its use of technology helped it make improvements to customer service, compliance and turn times in the origination process for brokers and borrowers.

MORTgAgE NETwORkmortgagenetwork.com

All of Danvers, Mass.-based Mort-gage Network’s origination technolo-gy systems are Web-based, including its proprietary imaging system.

In 2010, Mortgage Network de-signed and deployed a fully inte-grated POS system and made other additional improvements to its sys-tems integration, reporting capabili-ties and application security.

The company said it’s currently working on a mobile application for loan officers to manage their pipe-line and take new loan applications from tablet devices.

PHH MORTgAgEphhmortgagesolutions.com

PHH Mortgage is a private-label provider of mortgage origination and servicing outsourcing. It takes loan applications from client web-sites and keeps the process paperless up until loan closing.

The Mount Laurel, N.J.-based lender also launched a mobile ap-plication this year. With it, borrowers can monitor their loan status during origination. In addition, the app lets borrowers get relevant loan informa-tion once the loan is being serviced.

PHH’s mobile technology develop-ment is just one of the more than 200 business-driven technology initia-tives the company said it has worked on in the past year.

PLEASANT VALLEYHOME MORTgAgE

pvhmconline.com

Pleasant Valley Home Mortgage uses an online lead generation and marketing management system to track new business.

The Moorestown, N.J.-based lender also puts particular emphasis on its environmental impact, reducing its use of paper and using technology to improve its operations and reduce overhead expenses.

QuICkEN LOANSquickenloans.com

Quicken Loans is an online chan-nel-only retail mortgage lender. It has proprietary LOS and PPE technology and handles all loans electronically up until closing.

Detroit-based Quicken Loans also deployed a mobile app that lets bor-rowers track their loan in the under-writing process and use their phone’s camera to electronically submit cer-tain application documents.

S

sierrapacificmortgage.com

Folsom, Calif.-based Sierra Pacific lets borrowers upload documents and track their pending loans from its website. It’s licensed in 48 states and has 10 regional funding centers.

Sierra Pacific has a proprietary LOS that boasts a direct integration into Fannie Mae’s EarlyCheck preclosing data verification portal. While it does not execute e-notes, the combination of its LOS and third-party document management software keep the origination process paperless up to document execution.

STEARNS

Stearns Lending uses custom websites for its 34 branch locations with direct contact portals and online application tools. Borrowers receive electronic disclosures to keep the process paperless until closing.

Santa Ana, Calif.-based Stearns Lending also boasts automated integrations with secondary investors and appraisal ordering.

Susupremebranch.com

Supreme Lending uses a combination of vendor-supplied and proprietary mortgage technology. The Dallas-based mortgage bank collects borrower applications online and automatically populates the information into internal systems.


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TOP TECH SAVVY LENDERS

The Mount Laurel, N.J.-based lender also launched a mobile ap-plication this year. With it, borrowers can monitor their loan status during origination. In addition, the app lets borrowers get relevant loan informa-tion once the loan is being serviced.

PHH’s mobile technology develop-ment is just one of the more than 200 business-driven technology initia-tives the company said it has worked

ALLEYmORTgAgE

pvhmconline.com

Pleasant Valley Home Mortgage uses an online lead generation and marketing management system to

The Moorestown, N.J.-based lender also puts particular emphasis on its environmental impact, reducing its use of paper and using technology to improve its operations and reduce

OANSquickenloans.com

Quicken Loans is an online chan-nel-only retail mortgage lender. It has proprietary LOS and PPE technology and handles all loans electronically

Detroit-based Quicken Loans also deployed a mobile app that lets bor-rowers track their loan in the under-writing process and use their phone’s camera to electronically submit cer-tain application documents.

SiERRA PACifiCmORTgAgE

sierrapacificmortgage.com

Folsom, Calif.-based Sierra Pacific lets borrowers upload documents and track their pending loans from its website. It’s licensed in 48 states and has 10 regional funding centers.

Sierra Pacific has a proprietary LOS that boasts a direct integration into Fannie Mae’s EarlyCheck preclosing data verification portal. While it does not execute e-notes, the combination of its LOS and third-party document management software keep the origi-nation process paperless up to docu-ment execution.

STEARNS LENDiNgstearns.com

Stearns Lending uses custom web-sites for its 34 branch locations with direct contact portals and online application tools. Borrowers receive electronic disclosures to keep the process paperless until closing.

Santa Ana, Calif.-based Stearns Lending also boasts automated in-tegrations with secondary investors and appraisal ordering.

SuPREmE LENDiNgsupremebranch.com

Supreme Lending uses a combi-nation of vendor-supplied and pro-prietary mortgage technology. The Dallas-based mortgage bank collects borrower applications online and automatically populates the infor-mation into internal systems.

Supreme Lending has custom PPE and accounting software. The PPE has various customizable features for indi-vidual loan officers and branches to tailor their activity to customer needs.

The PPE was recently expanded with a mobile-optimized version. Supreme Lending’s internal appraisal manage-ment company also uses proprietary appraisal management technology.

TD BANktdbank.com

Through its mortgage moderniza-tion initiative, Cherry Hill, N.J.-based TD Bank implemented new e-disclo-sure software, which 75% to 80% of mortgage borrowers use.

Throughout the depository’s oper-ations, TD Bank puts an emphasis on environmentally sound business de-cisions, including purchasing alter-native energy and building technol-ogy-driven, energy efficient facilities.

uNiTED fiDELiTYfuNDiNg CORP.

uffwholesale.com

Kansas City, Mo.-based correspon-dent lender United Fidelity Funding op-erates in 20 states and is in the process of growing its retail channel. It uses a paperless document management sys-tem and boasts customer service gains by securely integrating Web-based SaaS applications for its brokers with its in-ternal back-end system.

In addition, UFF has an internal appraisal management function that through the use of technology, is managed and maintained by just one staff member.

uNiTED WHOLESALEmORTgAgE

uwmco.com

United Wholesale Mortgage special-izes in FHA wholesale lending and its website lets brokers take mortgage ap-plications online and from tablet devic-es. Borrowers can e-sign disclosures.

Birmingham, Mich.-based United Wholesale Mortgage only accepts elec-tronic loan files from brokers. During underwriting, the paperless process provides automatic updates that allow brokers to monitor progress online.

WR STARkEY mORTgAgEwrstarkey.com

WR Starkey Mortgage uses SaaS technology to centralize its software into off-site servers, enabling em-ployees to use thin-client PCs that re-quire less energy. Plano, Texas-based WR Starkey also takes advantage of paperless processing to reduce its use of paper in the origination process.

WYNDHAm CAPiTALmORTgAgE

wyndhamcapital.com

Wyndham has embraced paperless mortgages since 2005, and originated all of its 2010 volume as full, paperless e-mortgages. It originated mortgages across 20 states with three branches and its Charlotte, N.C. headquarters.

Borrowers securely upload docu-ments to Wyndham’s website, employ-ee workstations include dual or triple displays and managers use real-time reporting dashboards.


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MT Top Tech Savvy Lenders

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