Vystar Credit Union Expands, Extends Mortgage Cadence Relationship

May 16, 2013 – Mortgage Cadence LLC, a leading provider of Enterprise Lending Solutions (ELS), Document Services and Compliance for the financial services industry, announced today that Vystar Credit Union, based in Jacksonville, Florida, has expanded its relationship to include the company’s complete Symphony platform, including the Symphony Imaging Portal, to increase its lending efficiencies as well as to enhance the home financing experience for its members. Symphony is one of two comprehensive Enterprise Lending Solutions 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.

“Vystar Credit Union is consistently a top-three home lender in Jacksonville. Mortgage lending is a core strategy for our credit union, and an invaluable service for our members,” said Kathy Bonaventura, Vystar’s Chief Lending Officer. “We will use the full Symphony Suite to enhance the borrowing experience while increasing efficiencies,” she continued. Symphony answers the one-system question; from application through closing and funding, the cloud-based solution manages loans throughout the mortgage cycle, offering anywhere, anytime availability. “Our branches originate. Our call centers originate and field member inquiries. With Mortgage Cadence we will be using one system instead of four, which makes this possible and places us at a distinct competitive advantage,” she continued.

Fully-electronic, completely paperless lending was pioneered on the Symphony Platform. Eliminating paper cuts short- and long-term costs and quickens the mortgage process. “Our internal operation is paperless today. With the addition of Symphony’s Imaging Portal we become paperless with our members, too,” said Lisa Wiley, mortgage origination manager for Vystar. “Enabling members, our call centers and our branches to deliver documents through Symphony is a leap forward and a competitive advantage,” she continued. Symphony’s imaging capabilities work within the electronic loan file identifying, categorizing and placing documents in the proper order for every member of the mortgage team. Mortgage files can also be delivered to borrowers, settlement agents and investors, reducing loan closing and delivery times. “Advanced imaging is one example of the forward-thinking nature of Mortgage Cadence’s development roadmap, and one of the major reasons we chose Symphony,” concluded Bonaventura.

“Long-term relationships are important to credit unions and their members. They are to us as well. Vystar has been a customer since 2003; we are very pleased to be serving this leading Florida lender for at least the next five years,” said Michael Detwiler, CEO of Mortgage Cadence. “Enduring relationships are meaningful on so many levels, not the least of which is the positive borrower experience and the improved, compliant lending efficiencies they help deliver,” he stated.