Peoples Bank and Trust Chooses Symphony from Mortgage Cadence

April 11, 2013 – Mortgage Cadence LLC, a leading provider of Enterprise Lending Solutions (ELS), Document Services and Compliance for the financial services industry, announced today that Peoples Bank and Trust, based in McPherson, Kansas, will begin using its Symphony mortgage lending solution this summer to expand their mortgage program. Symphony is one of two comprehensive Enterprise Lending Systems offered by Mortgage Cadence and is known for the enhanced experience it offers borrowers as well as the compliant efficiencies it enables for mortgage lenders.

“Peoples Bank and Trust is full-service, providing our customers with convenient on-line access from wherever the happen to be. With the addition of Symphony our customers can apply electronically when the time is right, including nights and weekends,” said Chad Alexander, Vice President, Peoples Bank and Trust. Prelude, Mortgage Cadence’s consumer and loan officer portal, offers the quickest, simplest way to apply for home financing, providing a loan decision and disclosures at the point of sale as well as providing the borrower real-time loan status from any internet-connected device. “Prelude will be used by our customers, branches and loan officers beginning this summer. As one of the largest lenders in our area we know this enhances our competitive advantage. It also expands our reach into new markets,” he continued.

Peoples Bank and Trust processes and services all mortgage loans through its main office in McPherson. “Symphony certainly enhances the experience we offer our borrowers. As importantly it greatly increases our efficiencies, too. Using couriers to deliver documentation and closing documents becomes a thing of the past, as do paper applications. We expect the speed at which we move home loans through the mortgage cycle to rapidly increase, which means our customers move into their homes much sooner. It also drastically cuts our costs. Symphony is an important growth and profitability strategy for our bank,” he concluded.

“I couldn’t agree more with Mr. Alexander,” said Michael Detwiler, CEO of Mortgage Cadence. “Symphony was envisioned to transform borrower access and the financing experience. It was also conceived as the most complete, most efficient way to manufacture mortgage loans. It delivers on both counts. Working with Peoples Bank and Trust to achieve their lending goals will be a pleasure,” he stated.