Mortgage Cadence, Inc., Denver, known for its Enterprise Lending Solutions, reports that it has implemented Mortgage Cadence Orchestrator™, Harmony™ and Finale™ to Associated Bank, Green Bay, WI.
The solutions work seamlessly with one another from origination, processing, underwriting, and closing through secondary marketing to maximize efficiencies across Associated Bank’s operations and enables the company to rapidly respond to the ever-changing market conditions.
“The agility that Mortgage Cadence Orchestrator grants us is unprecedented, and it allows us to get products to market faster,” said Scott Fecteau, Senior Vice President and Director of Mortgage and Consumer Finance. “This provides us with an enormous competitive advantage considering the state of the industry and the constant changes in regulations, especially when dealing with FHA loans. By streamlining point of sale processes throughout our loan officer network, Mortgage Cadence Orchestrator helps to increase our customer service levels while workflow tools speed the lending process. Couple that with Mortgage Cadence Finale’s ability to dynamically create initial disclosures and closing packages and deliver them securely to the borrower and settlement agent, and we are fully realizing the benefits of these solutions. This will allow us to drastically cut down our process times while taking a huge leap toward back office automation.”
Associated Bank is focused on purchasing conforming, government and jumbo first mortgage loans from approved correspondent lenders in the upper Midwest. The company has a strong retail lending channel that is supported in this implementation, including construction to perm loans and operate as a full-service mortgage conduit servicing all major secondary market investors as well as their own balance sheet products. Associated Bank’s current business model calls for servicing loans aggregately totaling in excess of $8 billion.
“Associated Bank will also be leveraging Mortgage Cadence Harmony for their correspondent Web portal,” said Chuck Kimball, Executive Vice President of Consulting Services at Mortgage Cadence. “The portal enables Associated Bank’s aggregators with direct integration from their origination channel to their trading desk while leveraging advanced pricing, eligibility and underwriting technology to increase efficiencies throughout the channel.”
Aggregators have the ability to upload loan data, register and lock loans and automate the pricing analysis and purchasing of loans. Users can view real-time loan status information and receive feedback on adjustments and correspondent pricing tiers.
Associated Bank is part of Associated Banc-Corp (NASDAQ: ASBC), a diversified bank holding company with total assets of $23 billion