Eli Lilly Federal Credit Union Chooses Symphony from Mortgage Cadence

March 28, 2013 – Mortgage Cadence LLC, a leading provider of Enterprise Lending Solutions (ELS), Document Services and Compliance for the financial services industry, announced today that Elfcu, Eli Lilly Federal Credit Union, based in Indianapolis, Indiana, is converting to its Symphony platform this spring. Symphony is one of two comprehensive Enterprise Lending Systems offered by Mortgage Cadence. Known for its comprehensive, cloud-based architecture, Symphony ushers mortgage loans from origination through closing, including documents, imaging and secondary marketing.

“The traditional multi-system approach to originating mortgage loans inherently introduces inefficiency and inaccuracy. In addition, managing compliance has become increasingly difficult,” said Elaine Rinehart, Assistant Vice President, Business Analysis and Applications. “Symphony from Mortgage Cadence covers all the bases in one complete system that our members, loan officers and mortgage teams can access for quick approvals and for up-to-the-minute information from any internet-connected device,” she continued.

Mortgage Cadence offers a complete product suite, wrapping traditionally separate point of sale, loan origination, secondary market, and document systems into one. “Incorporating Symphony’s automation and workflow features into our mortgage operation provides countless benefits. Eliminating paper checklists and introducing system-generated and delivered disclosures and closing documents are just two of the many system characteristics that will quicken our lending pace and improve the financing experience for our members,” she stated.

“Producing quality, compliant loans is just like manufacturing anything else. The process requires tools, technology and all-inclusive systems that ensure processes and rules are consistently followed,” said CEO of Mortgage Cadence Michael Detwiler. “It is a pleasure to welcome Eli Lilly Federal Credit Union to Mortgage Cadence and an honor to be working with such a well-known, leading credit union mortgage lender,” he stated.