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February 16, 2024

Getting the Most Out of Existing Tech Investments

A strategic approach to a lender’s business is through acquiring new technologies and harnessing the full potential of existing investments.

At Mortgage Cadence, we’re proud of the mortgage loan origination technology we’ve developed. It has redefined what’s possible for our lender partners and believe we provide the tools to make it possible for a lender to be successful.

But, a good strategic approach to the lender’s business is not just about acquiring new technologies; it’s also about harnessing the full potential of existing investments.

Traditionally, lenders have not taken full advantage of the tools we’ve built into our platform and, in a time when efficiency is a strategic priority, that’s like leaving money on the table.

2024 is a pivotal year for the mortgage industry, lenders are increasingly focusing on optimizing their current technological tools to enhance efficiency and stay competitive. This makes great sense.

Knowing what you can do with what you have

Changes we’re making in 2024 to the way we deploy new tools for lenders will make it easier than ever for them to make full use of all the new technologies we develop. But what about the tools they already have.

The truth is, some lenders don’t even realize the power sitting idle in their loan origination systems today.

There's a growing recognition that while many have transitioned to modern Mortgage Cadence Platform (MCP), the full capabilities of these systems have yet to be fully exploited. This period is not just about keeping the lights on; it's about shining them brighter.

As a result, we’re having more meetings with our lender partners about fully realizing the tools already built into and accessible on their platforms. In fact, we believe the first six months of 2024 will be an ideal time for lenders to reevaluate and optimize their existing technology.

Now, it’s time to ask: How can we truly maximize the benefits of our platform?

Increasing the ROI of every tool you use

As we move further into 2024, the focus for our lender partners is clear: It’s not just about acquiring new technologies, but also about making the most of what they already own. Then, adding new tools as required makes more sense and delivers a better ROI faster.

To help lenders achieve this, we’re adopting a new approach to releasing software updates in the year ahead. Unlike the traditional, larger, and more infrequent updates of the past, the coming year will see multiple, smaller releases on a schedule.

These releases will be unique in that they will be integrated into production with all new features initially turned off. This strategy allows clients to:

  • Gradually activate features and functions that align with their specific business needs.
  • Manage the pace of adopting new updates without disrupting their current processes.
  • Stay on the latest version of the platform, ensuring they are always at the cutting edge.

This approach is more than just an update strategy; it's about empowering clients with greater control over their technology environment. It enables lenders to make strategic decisions about which features to activate, based on their relevance and value to the business.

But it all starts with making sure the lender is making full use of the tools already in place.

The first half of 2024 presents a golden opportunity for mortgage lenders to dive deep into their current technological setups and optimize them for greater efficiency and effectiveness. By doing so, they can not only enhance their operational capabilities but also realize a higher ROI on every tool they use.

Find out more about how Mortgage Cadence can help you maximize the value your current tech stack provides by reaching out to us today.

By Joe Camerieri, EVP, Sales & Strategy at Mortgage Cadence 

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Media Contacts

Mortgage Cadence: 
Alison Flaig 
VP, Marketing 
(919) 906-9738