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.
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 .
Profundity Communications, Inc.
News issued by: LendingQB
Original Image: https://www.send2press.com/wire/images/12-0411-lendqb_72dpi.jpg
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Original Story ID: 2012-04-0411-001 (7818) :: 2012-04-0411-001
Original Keywords: Binh Dang, SaaS, cloud app, LendingQB LOS, mortgage technology, LendingQB, loan origination technology solutions and services, Michael Wilson, iServe Residential Lending LLC, Costa Mesa California LendingQB Costa Mesa California COSTA MESA, Calif.
Alternate Headline: iServe Residential Lending, LLC cuts technology costs in half and reduces cost per loan by 30 percent with LendingQB SaaS
NEWS ARCHIVE NOTE: this archival news content, issued by the news source via Send2Press Newswire, was originally located in the Send2Press® 2004-2015 2.0 news platform and has been permanently converted/moved (and redirected) into our 3.0 platform. Also note the story “reads” counter (bottom of page) does not include any data prior to Oct. 30, 2016. This press release was originally published/issued: Wed, 11 Apr 2012 07:59:10 +0000
News Source: LendingQB