Case Study : Lenders One
ASYNCHRONY SOLUTIONS CREATES COMPREHENSIVE ONLINE MORTGAGE SYSTEM FOR LOAN-ORIGINATION COOPERATIVE
Client Challenge Lenders One is an online cooperative of leading mortgage originators. It leverages the combined strength of its members to negotiate exceptional terms on products and services.
Lenders One engaged Asynchrony Solutions to completely build its online mortgage system, from user interface to back-end database, giving originators access to current mortgage rates as well as the ability to enter customer information and lock in loans. The site would support the varying levels of each company’s hierarchy of personnel by providing only the appropriate information to each type of employee.
Loan originators needed to have access to co-op news, information about discounts for co-op members and announcements regarding training periods. Reports for activity tracking and revenue generation would be facilitated, along with the ability to create credit reports, title letters, flood reports and other items pertinent to the purchase of a new home. The solution needed to allow non-technical Lenders One employees to manage the updating of training data and Lenders One news.
Through the integration of numerous disparate systems, Asynchrony Solutions developed a complete, front-to-back, web-based solution to a traditional desktop and paper-driven process.
Asynchrony Solutions Approach Asynchrony Solutions built a web-based, database-driven, secure application built using a Java/XML architecture. The solution allows for the entry of customer information to retrieve and lock mortgage rates, to generate credit reports, flood reports and title letters, and to share industry and co-op news as well as national program offerings. In order to capture all of this information, the solution integrates ten different vendors’ systems. The Java/XML-based middleware and API system facilitate the integration. Furthermore, the solution employs a range of technologies from XML/XSLT, JavaScript, FTP and even e-mail to integrate with the applications.
Results Through the integration of numerous disparate systems, Asynchrony Solutions developed a complete, front-to-back, web-based solution to a traditional desktop and paper-driven process. The solution provides Lenders One simple web-based administrative tools for non-technical personnel to add new co-op members as well as easily update the web-site information, allowing the site to remain real-time.
The site features real-time mortgage-industry headlines and mortgage rates that loan officers can view and lock. Finally, via a secure infrastructure within the look and feel of the Lenders One site, the solution successfully supports all of the various levels of each co-op member’s hierarchy of personnel.