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How can lenders optimize the valuation process in 2021? How can they reduce friction in their process when working with appraisers?

On this episode of Coffee with Cadence, we learn how lenders can optimize the valuation process in 2021. Grab your coffee and tune in to the conversation between our VP of Product Solutions, Ashely Gravano, and CoreLogic’s Chief Appraiser, Shawn Telford, to discover actionable insights lenders can leverage in today’s unique high-volume market.

Gravano and Telford address the following questions:

  1. (0:36) What should lenders be thinking about when it comes to valuation in 2021?
  2. (2:42) What valuation tools are available to help lenders be more effective when it comes to collateral valuation from application to closing?
  3. (4:21) What’s one thing you think lenders should know about appraisal?

What is Coffee with Cadence?

In this on-demand educational video series, Mortgage Cadence discusses prominent issues and trending market topics that are impacting lenders. Viewers gain actionable insights from each episode to address the subsequent business challenges facing lenders today.

In the spirit of collaboration, we feature guests from our integration partners to get a well-rounded perspective from experts across various verticals in the mortgage industry.

On-the-go or at your desk, join us for coffee with industry leaders as we dive into navigating today's complex lending environment.

More from Mortgage Cadence

Follow us on LinkedIn to be notified when our next episode is released.

Learn more about Mortgage Cadence's robust network of integration partners here.

Contact us here to inquire about becoming a Mortgage Cadence Platform partner.

Media Contacts

Mortgage Cadence:
Megan Martin
EVP, Marketing
(516) 480-6765
megan.c.martin@mortgagecadence.com

It may seem incredible that the average mortgage originator is spending about $3 million more each year than top performing lenders to originate the same loan products.

I know this to be true because for the last six years I’ve been running our Mortgage Cadence performance benchmarking study. I’ve stopped apologizing for my love of data. Instead, I’ve embraced it by digging into what the best lenders are doing right. As a class, they are reducing their cost to close. They accomplish this by optimizing the other four key performance indicators. These metrics are the easiest way to spot a high-performance lender.

The key to high-performance lending

What the best lenders are doing is reducing their cost to close by millions each year. Then, they are reinvesting that money in growing their businesses. You may have heard me speak about high-performance lending at this year’s Ascent Mortgage Cadence users conference.
They are accomplishing this by optimizing the performance equation. They are combining the right people, process and technology for optimal lending performance. Meanwhile, everyone else is struggling through a market so competitive that experts are predicting that some mortgage banking firms just won’t make it.

Our study focused on credit unions and community banks, where every dollar counts. If you work in one of these institutions, you can probably imagine what you could do with that kind of money. But becoming a high-performance lender can save even more money for the nation’s largest banks.
The MBA’s survey on origination costs saw a new high earlier this year when it reported that the cost to originate a mortgage had risen to $8,475 in March. Then, in June, it rose even higher with the survey respondents reporting a cost to close of $8,887 per loan!

Meanwhile, the trade group reported at its recent Secondary Market conference in New York that lenders’ first quarter income will dip into negative numbers for the first time since the first quarter of 2014. This is a vicious cycle lenders have been caught in for more than eight years.

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Finding your $3 million
Becoming a high-performance lender will reduce the cost to close. Our data shows the average lender will save $3 million per year. It will also provide the cash cushion required to insulate lenders from the twin terrors of extremely high cost to originate and persistent low profitability. Lenders have been trapped between them for years.
In this series, we are exploring what it takes to be a high performing lender. Stay with us and we’ll shine a bright light on what the nation’s best lenders are doing right. Then, you can start thinking about what you’ll do with your extra $3 million per year.

Operational efficiency means that your business runs the way it was meant to run. It means that the firm accomplishes what management has set out to do, and it doesn’t waste resources along the way. In the mortgage industry, this results in satisfied customers, more closed loans, higher profitability, and regulatory compliance.

The two best metrics for measuring operational efficiency are Velocity and Productivity.

Productivity

In a recent article entitled, The Key to Increasing Your Lending Team’s Productivity. we looked at how knowing their productivity rate helps lenders assess the effectiveness of their people and process. How many loans is your team closing each month? The higher the ratio of closed loans to staff members, the more productive your origination business is.

Two keys to productivity that we looked at were maintaining low labor costs and cross-training employees. But productivity alone does not guarantee operational efficiency.

Loan Velocity

A team can be highly productive, but if they can't close loans quickly they won't be closing as many loans as they could. They will often lose out to lenders who have higher loan velocity.

In another recent article, 5 Ways High Performing Lenders Set Themselves Apart, we examined the necessity of innovation and teamwork. These are essential if loan velocity is to be both achieved and consistently maintained. It takes good people and the right technology to close loans quickly.

The Key to Operational Efficiency

So, what is the key to achieving and maintaining efficiency in the lending business? Productivity depends upon having good people and velocity is often a factor of the right technology. But without a solid, thoughtfully designed process in place, neither productivity nor velocity, on their own, will guarantee efficiency.

Process is the key to operational efficiency.

Find out more by participating in our annual benchmarking study. Call us today to find out more.

Mortgage Cadence to provide Minnesota-based credit union with a comprehensive platform to enable increased growth

DENVER; Oct. 9, 2018 – TopLine Federal Credit Union (TopLine) selected Mortgage Cadence, an Accenture (NYSE: ACN) company, to modernize its mortgage operations using Mortgage Cadence’s full product suite.

TopLine has replaced all legacy systems with Mortgage Cadence’s Loan Fulfillment Center, Borrower Center, Document Center, Imaging Center, and Collaboration Center, paving the way for increased lending profitability and a better borrower experience.

Collaboration Center — Mortgage Cadence’s newest offering — is a secure, private network that connects the people, data and systems involved in the loan origination process. It includes automatic document comparison and secure real-time messaging that provides easy access to title agents and other third parties. By eliminating tedious, labor-intensive tasks to simplify the mortgage process, Collaboration Center helps to increase efficiency through a streamlined workflow.

“We selected Mortgage Cadence as our comprehensive mortgage solutions partner knowing they are committed to innovation and are dedicated to providing superior service to help us get the most out of our technology,” said Tom Smith, president and CEO of TopLine Federal Credit Union. “We are excited to launch our new highly automated digital platform to provide our members an entirely paperless and seamless experience – from application through closing.”

Paul Wetzel, executive vice president and managing director of product management at Mortgage Cadence, said, “We’re thrilled to have TopLine as an early adopter of Collaboration Center, our newest offering that helps to improve productivity and minimizes time to close, two of the critical lending KPIs that drive profitability. We look forward to an enduring, collaborative relationship that benefits the credit union and its members through the most innovative services and best possible loan experience.”

About Mortgage Cadence
Since 1999, Mortgage Cadence has 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.

About TopLine Federal Credit Union
TopLine Federal Credit Union is Minnesota’s 13th largest credit union with assets of more than $450 million. Established in 1935, the not-for-profit cooperative offers a complete line of financial services, including mortgage, investment advisory and insurance agency services from its five Twin Cities metropolitan area branch locations —as well as by phone, mobile app and online. To learn more, visit http://www.TopLinecu.com.

DENVER; Sept. 13, 2018 – Mortgage Cadence, an Accenture (NYSE:ACN) company, has integrated LoanBeam’s income calculation service with Enterprise Lending Center (ELC), Mortgage Cadence’s end-to-end loan-origination solution. The integration helps Mortgage Cadence customers eliminate hours of manual document review and accelerate time to close while providing systematic income calculation and verification for self-employed borrowers.

LoanBeam revolutionized the mortgage income calculation process by using optical character recognition technology to export data from scanned tax return documents to automatically calculate a borrower’s income, drastically reducing the time it takes for loan officers, underwriters and processors to review borrower qualifying income.

“We’re pleased to add LoanBeam to our growing list of world-class integrated service providers,” said Brian Benson, executive manager of services at Mortgage Cadence. “LoanBeam is a groundbreaking service that helps reduce loan production times and improve the overall borrower experience, especially for self-employed mortgage applicants that are traditionally difficult to process. We’re excited to extend these new capabilities to our lender clients.”

Facilitating lending in all forward and reverse mortgage channels, ELC integrates with the industry’s leading service providers to give lenders an on-platform process that creates a better borrower experience and helps increase profitability through improved efficiency for lenders nationwide.

“Our mission is to provide the lending industry with data integrity by producing an output that is auditable, consistent and transparent,” said Jerry Melia, chief operating officer of Navesink Mortgage Services LLC, LoanBeam’s parent company. “Our collaboration with Mortgage Cadence builds upon this mission, and we look forward to providing Enterprise Lending Center users with this capability.”

About Mortgage Cadence
Since 1999, Mortgage Cadence has been providing the best people, process and technology for enterprise and mid-market lenders that desire to deliver an exceptional borrower experience. With over 17 million loans processed from point-of-sale through post-closing, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way.

About Navesink Mortgage Services LLC
Navesink Mortgage Services LLC (NMS) and its two subsidiaries, LoanBeam and Appraisal Fee Services (AFS), provide residential mortgage lenders and mortgage services consolidators with software solutions that automate tax return analysis and provide a secured and regulatory compliant payment solution.

LoanBeam, the standard in automatic income calculation and verification, leverages big data partners, advanced scanning technologies, and patented algorithms to reduce multiple streams of income into a single, easy-to-read electronic output. LoanBeam saves lenders time and money while improving accuracy. LoanBeam is based in Dallas, Texas. For more information, visit www.LoanBeam.com

With operations that go back to 2004 and more than $1 billion processed, AFS is the mortgage industry’s intelligent enterprise payment system that supplies lenders and service providers with a simple, secure end-to-end solution for collecting application and appraisal fees. AFS provides a detailed reporting and dispute management and resolution in a PCI compliance fashion. AFS is based in Encinitas, California. For more information, visit www.feeservices.info.

DENVER; July 12, 2018 – Mortgage Cadence, an Accenture company, has integrated ComplianceAnalyzer®, a leading compliance solution from ComplianceEase®, with the Enterprise Lending Center (ELC), Mortgage Cadence’s proprietary loan-origination platform.

The integration enables ELC users to systematically audit loans for regulatory compliance without leaving the platform.

ELC facilitates lending for forward and reverse mortgages in retail, wholesale and correspondent lending channels and across a multitude of mortgage products, including home equity lines of credit. The integration of ComplianceAnalyzer provides a comprehensive, real-time auditing and monitoring solution within the ELC.

“The cost to produce a loan has been on the rise, largely because of compliance demands that have given way to inefficiencies and slower speed to close for many lenders,” said Trevor Gauthier, Mortgage Cadence’s president and chief operating officer. “Mortgage Cadence is committed to providing lenders with the tools to help solve for these increased compliance demands, and our integration with ComplianceAnalyzer will do just that.”

ComplianceAnalyzer enables lenders of all sizes to improve asset quality and value, reduce compliance risk, negotiate better execution with secondary market investors, and capture the data needed to prepare lenders for regulatory exams. The solution performs audits for federal high-cost and higher-priced loan regulations, the Secure and Fair Enforcement for Mortgage Licensing Act, state high-cost and anti-predatory regulations, and state license-based consumer lending laws and regulations, as well as compliance guidelines from secondary market investors and government-sponsored enterprises. It also performs TRID, RESPA 2010 and pre-2010 forms tests to validate California’s per diem interest calculations, a key differentiator in the market, as compliance for California originators remains a top priority to avoid penalties and fees.

“Our automated loan-level compliance technology helps lenders comply with federal and local regulations and minimize operational risks,” said John Vong, ComplianceEase’s president. “We’re pleased to partner with Mortgage Cadence to help more lenders improve loan quality, reduce risk and increase profitability.”

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. Visit www.mortgagecadence.com for more information.

About ComplianceEase
Headquartered in the Silicon Valley, ComplianceEase®, a division of LogicEase Solutions Inc., is a leading provider of risk management solutions to the financial services industry. ComplianceEase’s patented platform includes ComplianceAnalyzer®, the mortgage industry’s most adopted automated compliance solution with the most comprehensive TRID auditing. ComplianceEase combines regulatory expertise with innovative technology to power end-to-end risk management solutions that help financial institutions improve compliance controls and increase profitability. The company’s growing client base includes financial institutions, service providers, law firms, GSEs, and three of the top five mortgage lenders in the U.S. ComplianceEase’s automated compliance solutions have also been adopted as e-Exam tools by federal and state banking and mortgage regulators. For more information, visit ComplianceEase.com or call 1.866.212.3273.

The metrics that reveals high performance lending & overall profitability in the mortgage industry.

Traditionally, summer is the peak of the new home buying season, but currently the industry is struggling. While the MBA has not revised its most recent annual loan volume prediction downward, competition for overall profitability through new mortgage business comes down to high performance lending.

This shouldn’t surprise anyone, as the Mortgage Bankers Association (MBA) told us in October, 2018 that this would be a tougher year for lenders. Overall, MBA now expects mortgage business to decline 3 percent from last year to about $1.6 trillion in 2018. The refinance share will fall off dramatically but purchase money business is expected to increase to about $1.2 trillion this year. MBA said earlier this year that it expects to see rates rise another four times this year. Since then, the Fed has already raised rates once. There’s an upside to rising rates, however. They spark FOMO (fear of missing out); buyers don’t want to miss their chance at a low rate.

This means that all lenders must target purchase money business to at least hold on to their historic volume numbers. This will be increasingly difficult, as Freddie Mac increased its expectation for mortgage interest rates in February, moving the dial on the 30-year-fixed rate mortgage to 4.6 percent, on average, for 2018.

The need to compete

The need to be competitive in the mortgage lending business has never been greater. Fortunately, depository lenders have an advantage in this area as their existing customer base is a ready-made prospect database for mortgage lending, if they can tap it. Historically, this has been very difficult to do.

Six years ago, we began performing an annual study to determine exactly what impact technology could have on a lender’s ability to be a high performance lender, not just from existing customers, but from the greater community the institution serves. In the process, we learned a great deal about how lenders define their success and how, as a segment of the overall mortgage lending industry, these firms performed competitively.

In all, we found five critical measurements, five key performance indicators (KPIs), that when taken together tell us – and lenders – exactly how any lender is performing. Even better, we aggregated the data from a number of institutions, all using the same technology in their lending departments, to arrive at a set of benchmarking data that, once understood, places lenders on the path to high performance lending. This research is now known as the Mortgage Cadence Benchmarking Study.

Why use benchmark assessments?

Knowing where you stand in regard to the five KPIs we are about to define in any given year is very important. It is a good management tool that informs decision making and reveals the institution’s progress on its mission and objectives.

Understanding performance over a period of years is even more valuable. It shows how management and staff react to market forces, and how well the institution is able to adapt its business to those changing forces and continue down the path of high performance lending.

But without benchmarking data to compare the institution’s performance to the broader set of competitors, it only reveals part of the story. There are many good reasons every institution should be benchmarking their lending performance against a larger industry dataset. And that’s what our study does: if understanding your own performance over a period of time is valuable, then comparing your performance to that of your peers over the same period of time is invaluable. This is especially true in a year when we know competition for a limited number of new purchase money mortgage transactions will be fierce.

Leveling the playing field.

The battle for this business will not be a one-year phenomenon. Market forecasts through 2020 predict that 75 percent of all mortgages through that time will be for the purchase of a home. This marks the beginning of a new mortgage lending era, foreshadowing an end to the historic boom-bust refinance cycles that dictated strategy and tactics for more than 30 years.

Unfortunately, benchmarking data is difficult to come by. Studies comparing and contrasting lender-to-lender performance are challenging because gathering data from a homogeneous set of lenders is difficult, both in terms of finding such a set and in getting those firms to give up the required information. While there are some excellent studies performed by national trade associations, they often compare very different institutions, rendering their results less useful.

Our study addresses this by focusing on a homogeneous set of lending institutions that all submit data to a regulator that makes that information public. In addition, we went back to the lenders in our study and asked for additional information to complete our data set. Since there were only a few data points required to complete our analysis, we enjoyed a high degree of participation from the lenders.

We know that there are three factors that influence the performance of a lending institution: their people, their process and their technology. The way the lender combines these three critical elements will determine their performance lift. Getting them right results in high performance lending. The benchmarks are guideposts that help the leader move along the path to this goal.

Our study isolates the technology variable to further expose the correlation between performance and the other two factors, over which the institution has complete control. Our study, therefore, used a large pool of data from a set of lenders all operating under the same business model and using the exact same technology. We believe there is no better apples-to-apples performance comparison available anywhere in the industry.

Given the commonalities of lenders in our study, one would expect every lender in the study to achieve a similar level of performance. While we might expect some slight variation between institutions, perhaps based on customer size or geographic location, we might expect overall performance to fall fairly close to a common baseline. Instead, we found that differences in the way these institutions organized their staff and their process workflows led to a wide variance in performance levels between institutions.

In fact, after performing the study for 6 years, we found that some lenders are surpassing their peers in high performance lending, even when competitors are operating under the same business model and using the same technology. We needed to find out why.

What benchmark data should my institution measure?

After analyzing the data, we found a number of metrics that were indicative of the performance of an institution, but five stood out as the best predictors of the institution’s ability to continue down the path of high performance lending. We now believe that these five key performance indicators are of critical importance to management and so for the last six years we have been collecting benchmarking data to help lenders understand how well they are performing relative to their peers.

In this section, we define each of these critical KPIs.

Velocity

Stated simply, this is a measure of the time to close, from the moment the application is received until the loan is signed at the closing table. To be clear, this is not the only time that speed matters. Our Borrower Survey, for instance, revealed that the amount of time it takes for a loan officer to return a call to a prospective borrower who has not yet completed a loan application was a critical measure of the borrower’s willingness to follow through on the loan app. However, for this study, the amount of time the loan was “in process” was found to be a critical performance indicator.

Borrower Share

As mentioned earlier, borrower share, or the ratio of applications taken to total customer base in the same calendar year, is an indication of how well the lender is doing serving the prospective borrowers who are already customers of the institution. This is a largely untapped resource for most lenders and holds the key to uncommon success in a highly competitive environment, such as these firms are lending in today.

Pull-Through

This is the ratio of closed loans to applications taken and is a key driver of the institution’s profit. Lenders will tell you more than half of the total cost to close has been spent by the firm by the time the application is taken. That represents the money lenders must spend on advertising, marketing, public relations and sales staff to prospect, sell and close a full application for a new loan. If that loan is not closed, those funds are lost and the cost to close ratio increases for all other loans in the pipeline. On the other hand, the more loans the lender can pull through to close, the lower the cost to close and the higher the profitability.

Productivity

Calculated simply, productivity is the measure of closed loans per mortgage production employee per month and it is the primary profit driver for every lending operation we studied. In fact, we now believe that productivity is the single most important metric in any mortgage lending operation and it is the primary driver of profit. Get this one right and cost to close falls in line and declines.

This was borne out in our discussions with lending executives, where we found productivity to be the KPI most indicative of profitability. If we know a lender’s productivity we have a very good idea of how profitable the institution is. According to our most recent study, the average productivity for lenders in our study in 2017 was 3.34 loans per employee.

Cost to Close

Cost to Close is the total cost of manufacturing a single mortgage loan. While the Mortgage Bankers Association put the total cost to originate for mortgage banks at nearly $8,000 per loan in 2017, our study revealed that our lenders, on average, experience a cost-to-close of $5,291 per loan in 2017. Better, but there is still a ways to go.

Arguably, these five metrics are macro-level measures that are really designed to offer two advantages to management. First, four of the five are quick and easy to calculate, offering a swift measure of the health of the institution. Some will argue, perhaps persuasively, that cost to close is more difficult to calculate. While true, if a good measure for the productivity KPI is available, cost to close becomes much easier to estimate accurately. We have the tools to do so. Once productivity is known, cost to close is easily and accurately estimated.

Second, the results institutions find by measuring these metrics will always lead to important questions, or at least they should. These KPIs are macro-diagnostic in nature, revealing areas where management must continue down the micro-diagnostic path to configure their companies for high performance lending.

What our 6th annual benchmarking study data told us was that a set of high performing lenders were consistently outperforming their competitors on every metric we tracked, despite competing for the same basic client base, offering the same basic loan products and using exactly the same technology.

Denver, CO; Jan. 24, 2017 − Citizens Community Federal Bank (CCFBank) announced its selection of Mortgage Cadence, an Accenture Company (NYSE: ACN), to streamline its loan origination processes, as well as drive borrower engagement. CCFBank will utilize the Loan Fulfillment Center, a robust loan origination system that offers end-to-end loan processing functionality, including compliance-related functionality and many third-party service providers.

CCFBank is a federally chartered national bank that provides deposit and loan products to communities in Wisconsin, Michigan, and Minnesota. After recently achieving the largest mortgage closing volumes in CCFBank's history, it was looking to capitalize on this growth with a new loan origination platform that enabled increased digital engagement with its customers.

The Loan Fulfillment Center’s accompanying product suite also solidified the bank’s decision to use Mortgage Cadence’s software and services. The Borrower Center, Document Center, and Imaging Center product add-ons, in addition to an available integration with DocuSign, differentiated Mortgage Cadence from the competition as a truly comprehensive product suite.

Nizar Hashlamon, EVP of Sales and Client Relations at Mortgage Cadence, said: “Mortgage Cadence is proud to be selected by CCFBank. With the Borrower Center for Loan Fulfillment Center, its customers will experience a swift and straightforward loan origination process, and the efficiencies don’t end there. Because Borrower Center for Loan Fulfillment Center is fully embedded, the single system of record helps the residential mortgage process continue seamlessly. As a valued community bank recognized for their leadership in the industry, we look forward to fostering another long-term relationship with CCFBank and are excited to contribute to the accelerated growth of the organization.”

About Mortgage Cadence
Mortgage Cadence, a wholly owned subsidiary of Accenture, has been working with lenders since 1999, offering mortgage technology solutions 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.

About CCFBank
CCFBank®, Citizens Community Federal, N.A. is a federally chartered national bank based in Altoona, Wisconsin. With over $550 million in assets, the bank is a full‐service financial institution providing deposit and loan products to our customers from multiple branch locations in Wisconsin, Minnesota, and Michigan.

DENVER, CO; January 10, 2017 – Mortgage Cadence, an Accenture Company (NYSE: ACN), signed Alaska USA Federal Credit Union (Alaska USA) to its Enterprise Lending Center mortgage origination product suite. This partnership strengthens Alaska USA’s commitment to providing its members with the best origination experience possible, backed by Mortgage Cadence’s comprehensive product suite.

With a regulatory environment that continues to challenge the industry, Alaska USA sought to acquire a rules-based loan origination system to drive compliance, efficiency, and accuracy. “Finding a loan origination provider that could meet the needs of both our members and our staff was paramount to our search,” said Debbie Ingle, Executive Director, Mortgage and Real Estate Lending for Alaska USA. “We were fortunate to find a true partnership with Mortgage Cadence. Its vision for next-generation, borrower-facing tools like responsive design and document upload solidified our confidence in its long-term position in the industry.”

Mortgage Cadence was able to meet Alaska USA’s needs by combining its flagship multi-channel, rules-driven loan origination solution, Enterprise Lending Center, with its entire complementary product suite, including:

Alaska USA selected Mortgage Cadence based on extensive discussions around the implementation methodology, the Mortgage Cadence Cloud, current and future vision for the digital borrower experience, and infrastructure as a whole. “Our technology is certainly integral to our clients’ success, but without the best team leading the charge and working hand-in-hand with our clients, none of it would be possible,” said Trevor Gauthier, President and Chief Operating Officer for Mortgage Cadence. “We pride ourselves in providing the best team in the industry dedicated to partnering with our clients to meet their changing needs in automation, borrower experience, and compliance. Our dedication to Alaska USA’s needs during its search, and now as we head into implementation, is no exception.”

About Mortgage Cadence
Mortgage Cadence, a wholly owned subsidiary of Accenture, has been working with lenders since 1999, offering mortgage technology solutions 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 experienced people, supporting lenders every step of the way. Visit www.mortgagecadence.com for more information.

About Alaska USA Federal Credit Union
Alaska USA Federal Credit Union is a member-owned, not-for-profit financial cooperative with $6.8 billion in assets and more than 600,000 members worldwide. The credit union operates 85 branches in Alaska, Arizona, California, and Washington State. Alaska USA offers a 24/7 Member Service Center, access to more than 55,000 surcharge free ATMs worldwide, as well as online and mobile solutions. Learn more at alaskausa.org.

DENVER, CO; Nov. 3, 2016 – Mortgage Cadence, an Accenture Company (NYSE: ACN), announces an important enhancement to its Partner Ecosystem designed to bring industry-leading mortgage technology together with top-tier third-party service providers and consulting firms.

Businesses that are part of the Partner Ecosystem provide services that complement the implementation process, assist with go-live schedules, and ensure customers take full advantage of Mortgage Cadence’s suite of offerings. PricewaterhouseCoopers (PwC) joined the Ecosystem in September, offering Mortgage Cadence clients requirements gathering and other implementation-related services. The network of businesses that constitute the Partner Ecosystem helps to elevate the Mortgage Cadence software offering and implementation capabilities to levels that seek to surpass client expectations.

The Partner Ecosystem brings together recognized leaders in their field who have undergone rigorous vetting as well as yearly training and certification for cohesive alignment with client goals. Mortgage Cadence’s relationship with PwC gives Enterprise Lending Center clients a head-start on platform implementation by proactively gathering and understanding the client’s operational processes and requirements.

Following the PwC launch, Mortgage Cadence will expand the Partner Ecosystem to provide additional services including, but not limited to:

• Custom configuration
• Custom development through our Software Development Kit (SDK)
• Post-production support/enhancements
• Creation and execution of testing plans and methodologies
• Training document execution and creation

“We are pleased to announce this expansion of our Partner Ecosystem,” said Trevor Gauthier, president of Mortgage Cadence. “Implementing our technology with the additional support and guidance of partners like PwC offers our clients a competitive leap forward to more quickly realize gains in efficiency, ultimately helping to exceed borrower expectations. This program is a giant step forward as we look to continue to provide world-class technology and support to our clients while providing them with multiple high-caliber options to help them best achieve their goals."

About Mortgage Cadence
Mortgage Cadence has been working with lenders since 1999, offering the industry’s only true one-stop-shop mortgage technology solutions 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.

By: Progress in Lending, "Here's What the Future of Mortgage Technology Innovation Will Look Like," featuring guest panelist Paul Wetzel of Mortgage Cadence

For the sixth consecutive year, PROGRESS in Lending Association hosted its groundbreaking ENGAGE Event. The event is designed to engage the mortgage industry to discuss and find solutions to so many pressing industry issues. This was a frank and thorough exchange of ideas and tips about how to solve the problems that face the mortgage industry. Yesterday we reported on what the speakers said about the future of mortgage regulatory compliance.