ELC now offers easy access to Arch MI RateStar quotes and supports both delegated and non-delegated Arch MI orders
DENVER; August 21, 2018 – Mortgage Cadence, an Accenture (NYSE: ACN) company, has integrated Arch Mortgage Insurance Company’s (Arch MI) mortgage insurance platform into the Mortgage Cadence Enterprise Lending Center (ELC), providing customers with direct access to its mortgage insurance risk-based pricing.
“We’re pleased to offer our ELC users access to Arch MI’s platform without having to leave the system or re-key information,” said Trevor Gauthier, Mortgage Cadence’s president and chief operating officer. “This integration is another example of our ongoing commitment to quickly connect lenders with the products and services they need.”
The Mortgage Cadence ELC facilitates lending in all forward and reverse mortgage channels and across all mortgage products, including home equity. With the integration of Arch MI’s platform, ELC users can efficiently obtain mortgage insurance quotes from Arch MI RateStar, which provides rates based on a thorough understanding of the underlying risk — helping to ensure that competitive pricing and eligibility information is included in each quote.
The ELC platform automatically saves mortgage insurance pricing data and stores the RateStar quote PDF and Certificate of Insurance in the Mortgage Cadence Imaging Center — an automated document capture and classification solution — for easy viewing and future reference. With the integration of Arch MI’s platform, Mortgage Cadence’s Imaging Center customers can deliver non-delegated loan documents to Arch MI without resorting to external websites, providing a complete and simplified on-platform user experience.
“Arch MI is a leader in MI risk-based pricing and we are pleased to deepen our relationship with Mortgage Cadence by offering expanded access to our innovative products through ELC,” said Carl Tyree, Arch MI’s executive vice president and chief sales officer. “This latest integration exemplifies our commitment to providing seamless connectivity that improves business efficiencies for processors and underwriters.
Arch MI’s mortgage insurance platform has been available through Mortgage Cadence’s Loan Fulfillment Center platform for several years.
About Arch Mortgage Insurance Company
Arch Capital Group Ltd.’s U.S. mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk. Headquartered in Greensboro, North Carolina, Arch MI's mission is to protect lenders against credit risk, while extending the possibility of responsible home ownership to qualified borrowers. Arch MI’s flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. For more information, please visit archmi.com.
Arch MI RateStar is a registered mark of Arch Capital Group (U.S.) Inc. or its affiliates. RateStar is a service mark of Arch Capital Group (U.S.) Inc. or its affiliates.
About Mortgage Cadence
Since 1999, Mortgage Cadence, champions of the lending process, have been providing the best people, process and technology for enterprise and mid-market lenders who desire to deliver an exceptional borrower experience. From point-of-sale through post-closing, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way.
Agreement extends 14-year relationship between the two organizations
DENVER; July 25, 2017 – BECU, a Tukwila, Washington-based credit union, has selected the Enterprise Lending Center from Mortgage Cadence, an Accenture (NYSE: ACN) company, as its new loan-origination system.
BECU is one of Mortgage Cadence’s longest-standing clients, having been using Mortgage Cadence’s retail, lender-ready loan-origination system, Loan Fulfillment Center, since 2003. The Enterprise Lending Center offers lenders greater extensibility, enhanced service ordering and additional regulatory support. As the country’s fourth-largest credit union, BECU needed greater flexibility, with advanced rules-driven workflow automation. After reviewing the landscape of loan-origination solutions, BECU identified Mortgage Cadence’s Enterprise Lending Center and accompanying product suite as the best solution to meet its growing needs.
“Our selection was based not only on Mortgage Cadence’s software capabilities and flexibility, but also its track record as a true partner committed to helping us provide our members with a best-in-class solution,” said Scott Strand, BECU’s senior vice president of Member Lending, Business and Wealth.
Mortgage Cadence’s end-to-end solution gives BECU total control, thanks to the addition of its software development kit, which provides enhanced configuration functionality to customize the already robust Enterprise Lending Center product suite to help BECU meet its evolving needs.
“Technology changes daily, presenting opportunities as well as challenges for lenders,” said Trevor Gauthier, Mortgage Cadence’s president and chief operating officer. “That’s why Mortgage Cadence offers two loan-origination solutions designed to meet all lenders’ needs, enabling them to transition to a platform that best aligns with their future aspirations. We are extremely pleased to continue our long-standing relationship with BECU and look forward to working together to create new lender efficiencies and an unmatched borrower experience."
About Mortgage Cadence
Mortgage Cadence, an Accenture company, has been working with lenders since 1999, offering a one-stop-shop mortgage technology solution designed for point-of-sale through post-closing. In a time when efficiency, speed and the customer experience are paramount to the success of lenders, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way. Visit www.mortgagecadence.com for more information.
BECU is a not-for-profit credit union owned by its members. Members receive the benefits of ownership through better rates and fewer fees. With more than 1 million members and over $16 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country. BECU currently operates more than 45 locations in Washington and two financial centers in South Carolina. For more information, visit www.becu.org.
DENVER; March 27, 2017 – Mortgage Cadence, an Accenture company (NYSE: ACN), announced it will launch the third generation of its Borrower Center, expanding the borrower self-service capabilities and enhancing the origination workflow of its Enterprise Lender Center platform.
The Borrower Center is a cornerstone of Mortgage Cadence’s cloud-based technology, providing a highly secure, always-on-and-available-everywhere capability to help guide borrowers and lenders through the mortgage origination cycle. The new release, which builds upon the company’s proprietary technology that elevated the online mortgage lending experience more than 15 years ago, provides a superior experience for borrowers and a more-efficient, cost-effective process for lenders. Features of the third-generation Borrower Center include:
- Borrower Mobility. Borrowers will now enjoy a streamlined user interface that scales across devices, enabling convenient anywhere, anytime access. During application, borrowers create a secure account to which they return throughout the origination cycle to virtually collaborate and check the progress of their loan, upload documents, view conditions, and communicate with their lender.
- Single System of Record. A single, web-based technology platform – a Mortgage Cadence hallmark – that provides complete mortgage origination capabilities, whereas most other vendors use a cumbersome, multi-system integration approach. Borrower Center opens a gateway for borrowers and lenders to interact easily throughout the mortgage origination process. For lenders, our single technology platform means solid data integrity and security, enhanced features to help ensure compliance, a highly automated workflow, and an immersive borrower experience unmatched in the industry.
- Flexible Administration. Easy-to-use admin tools provide full control over page names, content, titles, fields, and button names, with the option to preview updates prior to site publishing. The Borrower Center provides the flexibility that enables the lender to collect only the information needed to provide a great customer experience.
- Powerful Branding. Borrower Center offers lenders the most powerful styling and branding opportunities available, making it easy for lenders to match the experience provided by their corporate website. Borrower Center’s design tools make it simple for lenders to adjust design and flow instantly,in real-time, as market conditions and borrower preferences evolve.
“Mortgage Cadence continues to lead the way in borrower-facing technologies — a road we started down almost two decades ago,” said Trevor Gauthier, Mortgage Cadence’s president and chief operating officer. “It’s exciting to release this next-generation borrower portal with the sole purpose of advancing our digital suite of technologies to ensure that our customers stay at the forefront of the lending industry.
“Staying ahead of industry and technology trends hinges on a thorough understanding of borrowers’ future needs. Last year we partnered with Accenture Research to conduct a study of more than 1,500 borrowers’ current and future expectations related to the origination process. Using data collected from the study, we have been driving development efforts around Borrower Center for Enterprise Lending Center and applying that knowledge to our entire product suite roadmap. Supporting our lenders is our number one goal, and we are excited to roll-out this forward-looking product.”
Michael Detwiler, Mortgage Cadence’s chief executive officer and a senior managing director at Accenture, said, “Since the acquisition of Mortgage Cadence in 2013, We have invested heavily in the Mortgage Cadence suite of products, with a major focus on digital technologies inclusive of Borrower Center. Our view on where we want to take mortgage lending draws from the kind of disruption we see in the transportation and hotel industries — attacking the major friction points and fully digitizing processes to increase the speed and efficiency of lending services. Our new release of Borrower Center is the culmination of three years’ worth of investment and incredibly skilled employees bringing our vision to life, laying the groundwork for where we plan to take our digital lending experience to enable our customers to leapfrog the competition.”
About Mortgage Cadence
Mortgage Cadence has been working with lenders since 1999, offering a one-stop shop mortgage technology solution designed for point-of-sale through post-closing. In a time when efficiency, speed and the customer experience are paramount to the success of lenders, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way. Visit www.mortgagecadence.com for more information.
DENVER; April 27, 2016 – Mortgage Cadence, an Accenture (NYSE: ACN) company, has released two new business intelligence “dashboards” for Enterprise Lending Center—the company’s cloud-based loan-origination platform—that are designed to help mortgage lenders enhance operational efficiency, increase throughput and maximize profitability.
The two dashboards are Business Intelligence for the Enterprise Lending Center (ELC), which gives lenders greater insight into real-time loan activity, and Business Intelligence for ELC’s Imaging Center, which reduces document bottlenecks to increase productivity. Both dashboards are add-on features that enable mortgage lenders to easily access all the data they need to run their business, on demand.
Business Intelligence for ELC includes pre-defined, standard dashboards, using key performance indicators to measure loan, department and user activity. Highlights of this new tool include:
- standard and custom dashboards to easily see statistics at-a-glance, including those for compliance tracking and portfolio management;
- actionable intelligence on customized, real-time loan activity, enabling lenders to reassign loans within a department and open loans directly from the dashboard;
- role-specific dashboard screens, e.g. loan origination, processing, and underwriting, that leverage existing security parameters;
- the ability to analyze activities within departments, track bottlenecks and identify areas for improvement.
Business Intelligence for ELC’s Imaging Center includes out-of-the-box dashboards designed to analyze throughput, individual performance, and document bottlenecks. Imaging Center, Mortgage Cadence’s electronic document imaging and management system, now benefits from Business Intelligence features, which include:
- drill-down tools to display the number of batches, documents, and pages processed over time;
- data visualization for real-time trend analysis and process optimization;
- out-of-the-box web-based dashboards; and
- role-specific dashboards, which create customized displays for each user.
“Lending successfully in today’s highly regulated, constantly changing landscape requires not just the right people and processes, but also the right tools,” said Paul Wetzel, product management lead for Mortgage Cadence. “At Mortgage Cadence, we aim to exceed lenders’ needs not just today, but also in the future. Our new Business Intelligence tools will enable our clients to make smarter decisions based on real-time data that is already broken down for them, giving them greater empowerment and ownership of their processes.”
By: The PROGRESS in Lending Association, "The 2016 Innovations Awards Winners Are..."
PROGRESS in Lending Association has named Mortgage Cadence a top innovation. The Mortgage Cadence Configuration Migration Utility (CMU) is an advanced configuration promotion tool only available through the Enterprise Lending Center. This new, patent-pending utility enables the easy migration of ACE Actions, business rules, and formulas from one environment to the next – whether development, staging, or production. The utility also dynamically discovers differences between environments, then surgically migrates the specific configuration changes to the desired environment. With the need to fluidly adapt to constant regulatory and investor requirements, the CMU allows lenders to effectively manage complex configurations efficiently and reliably.
NEW YORK; October 15, 2015 – BBVA Compass has deployed an end-to-end mortgage software suite from Accenture (NYSE: ACN) to streamline the bank’s real estate lending operations and enable borrowers with digital tools to apply for and track loans.
BBVA Compass is using Accenture Mortgage Cadence’s Enterprise Lending, Borrower, Imaging and Document Center software to support its 672 branches across the United States. The new suite includes a core loan origination system and an advanced set of tools for online origination, electronic imaging and automated document management.
“The Accenture Mortgage Cadence software empowers our mortgage clients by giving them the information they need, whenever and wherever they are,” said Eduardo Castaneda, executive director of Real Estate Lending for BBVA Compass. “It also helps us respond nimbly and increase efficiencies in a changing regulatory environment.”
Castaneda said Accenture’s mortgage processing expertise and commitment to providing lenders with state-of-the-art technology was a key reason for the bank’s decision. “We have a long-standing relationship with Accenture, so we understand their core technology and mortgage processing technology capabilities,” he said. “We are confident this software suite will position us to meet the needs of our clients now and well into the future.”
“As the mortgage industry evolves and consumers demand access to more digital capabilities, lenders that can adapt fastest will win,” said Terry Moore, senior managing director and head of Accenture Credit Services. “By embracing cloud-based systems and new lending innovations along with an industrialized mortgage processing solution, BBVA Compass continues to show foresight and market leadership.”
“BBVA Compass’ choice of our software suite is further evidence of our unique capabilities to assist banks in adapting their business to meet new and emerging consumer demands, as well as their need to lend more efficiently, profitably and compliantly,” said Trevor Gauthier, managing director of Accenture Mortgage Cadence.
Accenture Mortgage Cadence is a robust mortgage loan origination software suite that covers the full lending cycle from start to finish. Lenders can process, underwrite, close and fund loans virtually anytime and anywhere. The suite also includes the Borrower Center, a point-of-sale portal for customers that simplifies the loan application process and includes up-to-date information concerning the borrower’s pending application.
DENVER, CO; Aug. 26, 2015 – Liberty Bank has selected mortgage origination software from Accenture (NYSE: ACN) in order to simplify its processes, improve efficiency, and enhance its compliance capabilities. The bank will be using Accenture Mortgage Cadence Enterprise Lending Center, a mortgage origination platform designed to increase flexibility and deliver a better experience to borrowers.
Based in Middletown, Connecticut, Liberty Bank serves more than 125,000 consumer and business households and sought a technology provider capable of consolidating their current consumer mortgage processes and products into one all-encompassing solution while providing a superior borrower experience. The rules engine included with Enterprise Lending Center couples high-powered workflow and validation with configurable compliance-driven checkpoints.
“While we have seen steady growth throughout the years, we were searching for a centralized system capable of functioning as the nucleus, tying our various systems together in a harmonious manner,” said Thomas Hylinski, Executive Vice President of Retail Lending, Liberty Bank. “Now that we are live on the product suite, it has become very apparent that Accenture Mortgage Cadence’s platform will give us the lift we were looking for while providing advanced functionality that will allow us to more efficiently serve our customers – all while maintaining compliance.”
The Enterprise Lending Center’s complementary product suite quickly proved to be a differentiator in Liberty Bank’s search for a new loan origination system. To create a smooth origination experience for lenders and borrowers alike, the accompanying product suite, including the Document Center, Imaging Center, and Borrower Center further streamline all document and consumer-facing processes through rules and workflow. This, combined with Enterprise Lending Center’s ability to provide seamless integration to third-party vendors was something no single provider could compete with.
“We take a tremendous amount of pride in our work and forming deep relationships with our clients, which has allowed us to exceed Liberty Bank’s expectations,” said Trevor Gauthier, managing director of Accenture Mortgage Cadence. “Going live is just the first step as we collaborate with Liberty Bank, innovating to accelerate the mortgage process for the ultimate benefit of the borrower.”
Liberty Bank successfully went live on the Enterprise Lending Center platform in June 2015. Liberty Bank’s clear vision, combined with the expertise of the Accenture Mortgage Cadence team, created a strong foundation throughout the implementation process.
DENVER, CO; June 16, 2015– Accenture (NYSE: ACN) launched a new version of the Accenture Mortgage Cadence Enterprise Lending Center platform in order to provide new functionality around key regulatory changes, providing tools to help lenders stay in compliance and provide better service to customers.
New regulations, called the TILA-RESPA Integrated Disclosure Rule, replaced two legacy loan origination documents and affect various calculations and workflow that take place during the loan process, requiring changes to both loan origination technology and lender processes. The Enterprise Lending Center, one of two SaaS-based loan origination systems offered by Accenture Mortgage Cadence, is highly configurable and rules-based, allowing mortgage lenders to update their systems in advance of the regulation deadline.
Accenture Mortgage Cadence was able to roll out the Enterprise Lending Center 8.0 release to accommodate the regulatory changes in advance of the rule’s August 1, 2015 effective date. Enterprise Lending Center Version 8.0 delivers the following enhanced capabilities:
- The new Loan Estimate and Closing Disclosure, which include the new TILA-RESPA data points and supporting calculations;
- Functionality that will enable three business day advance delivery of Closing Disclosures to consumers, as required by the regulation;
- New tests and screens to provide comparison data for fees and Changed Circumstance options
- Updates to partner integrations to improve the user experience with service orders, enabling loan compliance assessments and loan-level constrained taxes and fees estimates.
“This tremendous initiative helps to prepare our clients for the TILA-RESPA rule well ahead of the deadline. Enterprise Lending Center 8.0 gives lenders the opportunity to thoroughly test the two new documents required by the TILA-RESPA Integrated Disclosure Rule – the Loan Estimate and Closing Disclosure. Consequently, lenders will be in a better position to execute mortgage loans in a compliant manner with confidence by the deadline so that customers will see no gap in services” said Trevor Gauthier, managing director, Accenture Mortgage Cadence. “Accenture Mortgage Cadence has a longstanding history of releasing compliance changes in advance of their respective deadlines, and our changes around the TILA-RESPA Integrated Disclosures continues this tradition.”