Loan Origination Software Category - SPRING 2022 Customer Success Report - FeaturedCustomers
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Loan Origination Software Category Loan origination software is a form of software that automates the process of loan origination. Loan processing can be extremely time-consuming and labor-intensive, so businesses are constantly on the lookout for ways to simplify and automate their processes. Services like loan origination software have the potential to help your business significantly reduce its operating costs and increase its profitability. Rather than hiring new loan officers to process applications and follow up on those that have been denied, your business can simply use these programs to do it all. SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 2
Award Levels Customer Success Report Ranking Methodology The FeaturedCustomers Customer Success ranking is based on data from our customer reference platform, market presence, MARKET LEADER web presence, & social presence as well as additional data Vendor on FeaturedCustomers.com with aggregated from online sources and media properties. Our substantial customer base & market ranking engine applies an algorithm to all data collected to share. Leaders have the highest ratio of calculate the final Customer Success Report rankings. customer success content, content quality score, and social media presence The overall Customer Success ranking is a weighted average relative to company size. based on 3 parts: CONTENT SCORE ● Total # of vendor generated customer references (case studies, success stories, testimonials, and customer videos) ● Customer reference rating score TOP PERFORMER ● Year-over-year change in amount of customer references on Vendor on FeaturedCustomers.com with FeaturedCustomers platform significant market presence and ● Total # of profile views on FeaturedCustomers platform resources and enough customer ● Total # of customer reference views on FeaturedCustomers reference content to validate their vision. Top Performer's products are highly rated platform by its customers but have not achieved MARKET PRESENCE SCORE the customer base and scale of a Market ● Leader. Social media followers including LinkedIn, Twitter, & Facebook ● Vendor momentum based on web traffic and search trends ● Organic SEO key term rankings ● Company presence including # of press mentions COMPANY SCORE RISING STAR ● Total # of employees (based on social media and public Vendor on FeaturedCustomers.com that resources) does not have the market presence of ● Year-over-year change in # of employees over past 12 months Market Leaders or Top Performers, but ● Glassdoor ranking understands where the market is going and has disruptive technology. Rising ● Venture capital raised Stars have been around long enough to establish momentum and a minimum amount of customer reference content along with a growing social presence. SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 3
2022 Customer Success Awards Check out this list of the highest rated Loan Origination Software based on the FeaturedCustomers Customer Success Report. * Companies listed in alphabetical order SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 4
2022 SPRING 2022 Loan Origination Software Category SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 5
106 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT ABRIGO Examiners like when everything is standardized across the board. Before we had [Abrigo], our loan officer did things slightly differently. [Abrigo] has helped us be much more consistent in our process and it gives us key information in an easy-to-read format. MATT WARCHOL VICE PRESIDENT, BANK OF O'FALLON Abrigo provides market-leading compliance, credit risk, and lending solutions to enable its customers Our loans under $50,000, which we primarily do through [Abrigo’s] to think bigger, allowing them to Loan Decisioning, can be completed in one to two days. both manage risk and drive AMBER STARTT growth. Our mission to “Make Big SENIOR CREDIT ANALYST, DOVER FEDERAL CREDIT UNION Things Happen” underscores our commitment to helping community financial institutions It’s cloud-based, so it’s easy to make changes on the fly. Plus, the support we succeed against “the perfect get from Abrigo is a huge factor. Abrigo is more like a partner to us than a storm” of ever-changing and increasing regulatory vendor or software provider. requirements, limited resources, DANIEL FOWLER CREDIT ADMINISTRATOR, CAPITAL CITY BANK increasing and new competition, evolving technologies, and changing customer expectations. We provide product innovation, The part I like most about Abrigo Credit Analysis is the global cash flow analysis. By world-class support, and putting in the individual tax return and the business tax return, or even tax returns for unparalleled expertise so that our multiple businesses, it does the analysis to combine all of those in a meaningful way. customers can make big things KEN BISHOFF happen. EASTERN UTAH COMMUNITY CREDIT UNION TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 6
70 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT BLEND The automated follow-ups take considerable effort off the loan officer. This affords our team the time to be more sales-driven while also ensuring consistency across applications. DAN VON SCHAUMBURG DIRECTOR OF CLIENT RELATIONS, AFFINITY FEDERAL CREDIT UNION Blend is dedicated to improving consumer lending. They partner with banks and lenders to power Blend caught our attention because they were reimagining the whole process frictionless, compliant, and more of getting a loan. It’s been about a decade since there’s been anything exciting accessible lending starting with mortgages. They’re motivated by to talk about in lending. We realized pretty quickly that this was it. the fact that them product won’t SUSAN STEWART PRESIDENT, SWBC MORTGAGE just affect the lives of a few people in the Bay Area it affects people all over America. Founded in 2012 by a group of former Palantir MortgageTouchTM, powered by Blend’s secure, user-friendly technology, engineers, Blend raised $100M complements the personalized service of our mortgage specialists to make from Greylock and Emergence home buying simpler and more enjoyable for both customers and lenders. Capital in the summer of 2017. GREG DUFOUR They've just moved into new PRESIDENT AND CHEIF EXECUTIVE OFFICER, CAMDEN NATIONAL BANK offices in SF and NY, they're growing quickly. With Blend, we can speed up the transaction from origination to close and we can really eliminate a lot of the communication hurdles. RUTH GREEN EVP AND COO, PRIMARY RESIDENTIAL MORTGAGE, INC. TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 7
283 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT FISERV Whether you are using a loan origination system or not, consider looking at Loancierge. It’s built to work with your Fiserv core and provide a seamless experience. KARILYN NEUMANN CHIEF EXECUTIVE OFFICER, MEDISYS EMPLOYEES FEDERAL CREDIT UNION Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services By promoting and offering a simple, in-channel option, we saw a 30 percent increase in loan experiences in step with the way applications over the previous year in the first year alone. And because we were no longer people live and work today. For advertising in-channel to anyone who had already applied, the quality of the applications more than 30 years, Fiserv has improved as well. been a trusted leader in financial MELISSA WILHELM ONLINE MARKETING SPECIALIST, COVANTAGE CREDIT UNION services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk Fiserv is our partner on many fronts. Project management and implementation and compliance, customer and services from Fiserv allow us to quickly and successfully add solutions, like Mobile channel management, and insights Source Capture. We don’t have these resources in our bank, so we rely on Fiserv. and optimization. POLLY J. THORSNESS NATIONAL CHECK PROFESSIONAL (NCP), SVP, DEPOSIT OPERATIONS, BELL STATE BANK & TRUST Fiserv recognizes that security issues are really important to financial institutions. Our goal is to keep our customers safe, and Fiserv has done a good job of providing the technology solutions for us to do that. ED O’BOYLE EVP, FIVE POINTS BANK TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 8
47 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT MERIDIANLINK MeridianLink Insight was incredibly helpful in demonstrating our processing times for certain loans and making a case for more automated decisioning. COREY BODINE LENDING SYSTEMS ADMINISTRATOR, CME FEDERAL CREDIT UNION MeridianLink have been creating innovative technologies that transform the way financial institutions operate by solving The conversion to LendingQB allowed Inlanta to offer a better experience to complex problems with our customers by closing loans much faster. I don’t know many companies streamlined, user-friendly that are able to rollout a new LOS and reduce average application to closing solutions. Their robust and secure times. technologies empower lenders and CHRIS KNOWLTON consumers to get reliable, accurate CHIEF INFORMATION OFFICER, INLANTA MORTGAGE information every time, at any time. As well-established industry leaders, they continue to set the industry standard for web-based The biggest thing we’ve gained from MeridianLink Mortgage is the throughput. credit reporting and lending for We can easily handle double the volume that we were before. MeridianLink financial institutions of every size. Mortgage has provided us with the capability to handle a lot more volume. CURTIS ONOFRI VICE PRESIDENT OF LENDING, PATHWAYS FINANCIAL CREDIT UNION MeridianLink Insight offers that ability to quickly visualize large amounts of data in a quick and efficient manner. This tool is a game changer when it comes to telling your story. It also allows for front line staff to quickly self-serve, eliminating the lag and friction between business units and the data they need. PATRICK WIGINTON LOS OFFICER, AMERICA'S FIRST FEDERAL CREDIT UNION TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 9
100 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT SIMPLENEXUS Customers are very comfortable using the app and it gives me a market advantage. I can send the link to them moments after first contact, which helps secure them as my customer before they contact other lenders. SimpleNexus brings the tools and ANGEL OAK HOME LOANS systems you need right to your mobile device. So, if you meet a prospect, you can start the loan origination process on the spot, to Because of SimpleNexus, our LO received an application at 9pm on a Friday engage that borrower faster. You night while riding in a car and was able to deliver a pre-approval within can answer customer questions minutes. from anywhere, with no callbacks. RYAN DOEHRMANN You can quote pricing in a realtor’s VICE PRESIDENT, MORTGAGE LENDING, GREENSTATE CREDIT UNION office, at a networking event or in line at the grocery store. It's the best! Very user friendly. Clients can use the app on the weekends or evenings. ACADEMY MORTGAGE By far, aside from some key mortgage production tools, CompenSafe is the most valuable product I’ve ever seen. It automates an overly burdensome, heavily regulated administrative process that touches everyone in the organization from producers to operations and managers to compliance, and it provides critical information helpful in managing teams. STEPHEN BENNETT SVP AND REGIONAL MANAGER - SOUTHEAST REGION, MUTUAL OF OMAHA TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 10
294 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT NCINO One of the many things that we love about nCino is that you can track the loan lifecycle and know exactly what's coming down the loan pipeline. GLORIA GUERRA SENIOR VICE PRESIDENT, LONE STAR NATIONAL BANK nCino is the worldwide leader in cloud banking. With its Bank Operating System, built on the nCino will give us a snapshot of the loan pipeline at any point in time, and Salesforce platform, financial allow a deeper look into banker performance, loan status, prospect institutions can deliver the speed communications and more. and digital experience that ANDREW HERNANDEZ customers expect, backed by the CHIEF INFORMATION OFFICER, BANK OF THE ORIENT, BANK OF THE ORIENT quality and transparency that bankers need. With nCino, we are able to immediately pull audit trail reports for examiners, which has helped reduce our compliance costs. GREG GIBSON CHIEF FINANCIAL OFFICER, NORTHWEST FEDERAL CREDIT UNION nCino allows us to streamline processes and develop best practices, taking loans from application to analysis, documentation, and servicing with unparalleled efficiencies. COLLEEN RYAN SBA BUSINESS RESOURCES PRESIDENT, INLAND BANK & TRUST TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 11
2022 SPRING 2022 Loan Origination Software Category SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 12
10 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT CALYX Zip makes us more competitive in the market. We have it on our website and provide the link to members that call in to apply for a mortgage. It is an excellent tool. Zip makes our originators more efficient, increases lead generation and speeds loan production. DOUGLAS ZEPP VICE PRESIDENT OF MEMBER SERVICES, MEMBERS FIRST CREDIT UNION OF FLORIDA Calyx is an established provider of compliant mortgage software solutions used by banks, credit If your institution is looking for a modern loan origination system that will grow with your business, I highly recommend Path. We began using Path in July 2018 and have seen a decrease in operational disruption, since we no longer need to unions, mortgage lenders, and manage hardware or software updates. Our loan officers continue to be productive even when they’re not in the office brokerages nationwide. The because they can access the web-based LOS on any platform—any time, any place. And, best of all, Path costs less than company’s easy-to-use technology, our previous LOS. including its borrower interview TAIHUN CHO MANAGER, FAIRWAY ASSET CORPORATION platform, loan origination systems, and secure electronic signature software, is designed to streamline, integrate and optimize I love Zip! It's very easy to use and it's shortened the origination process all phases of the loan process for while allowing me to weed out unqualified borrowers. customers of various sizes, workflows, channels and AMI SHAH MORTGAGE LEAD, FLYHOMES MORTGAGE complexities. Zip makes the origination process faster so I have more time for sales and marketing. WARREN DRIVER MORTGAGE BROKER, IDEAL HOME LOANS TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 13
36 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT OCROLUS We can’t just find something off the shelf that pulls a borrower’s assets in three minutes or less. None of those products apply to us because they’re not built for our model. That’s why Ocrolus is so important. Ocrolus really puts our toolset on parity with the conforming world and the GSE sector. And that means we’re outpacing most mortgage lenders. MATT LEHNEN Ocrolus is a fintech infrastructure CHIEF TECHNOLOGY OFFICER, DEEPHAVEN MORTGAGE company that transforms documents into actionable data with over 99% accuracy. Powered This is where Ocrolus really shines. eCommerce entrepreneurs don’t want to spend time recreating by Artificial Intelligence and a statements on other platforms if they can’t make the aggregator connection. With Ocrolus, they can easily upload bank statements, and in under two hours we have the data digitized and (more importantly) unique, human-in-the-loop data analyzed against the risk analytics, from a cash flow perspective. validation process, Ocrolus plugs DENNIS CHIN directly into customer workflows HEAD OF STRATEGIC INITIATIVES, YARDLINE via API, eliminating the need for manual data work. The solution includes built-in fraud detection We saw savings of over two hours of underwriter review time per mortgage. Excelerate Capital and analytics, enabling customers looks beyond a single score and broadens our search to include context and adaptability. to make smarter and faster Providing our team with timely, reliable data from borrower documents means they can focus business decisions with on customer service. unprecedented precision. PATRICK SHEEDY AVP & CREDIT OFFICER, EXCELERATE CAPITAL One of the ways that we’re able to service clients best is to mitigate fraud, because the more fraud you have, the higher costs are, the harder it is to service your clients. So with Ocrolus, we have automation, efficiency and fraud prevention. ADAM STETTNER CHIEF EXECUTIVE OFFICER, RELIANT FUNDING TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 14
49 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT TURNKEY LENDER Love the true cloud-based approach. Simple setup for loan products and key integrations out-of-the-box make it easy to deploy and get running. Out-of-the-box fraud checks and some limited loan application customization out of the box is nice. SPIKE HOSCH FOUNDER AND EXECUTIVE DIRECTOR, BETTERFI TurnKey Lender is a provider of intelligent lending, decision management, and risk mitigation TurnKey saves us 1000 man-hours each year processing loans. Online applications solutions and services. The eliminated about 400 hours of data entry on paper forms. Much simpler than the company’s main product is an legacy software. Things that took 100 steps previously are now done in 10. award-winning all-in-one modular JON LAM platform that can automate both NATIONAL DIRECTOR OF FINANCE & RISK, WINDMILL MICROLENDING certain parts and the entirety of the lending process. TurnKey Lender is the only company on the With TurnKey Lender, I was able to apply all my theoretical and practical knowledge of crediting market to offer bank-grade exactly the way I want. Backed by this tech, Capitex Finance has a competitive edge and greater automation powered by AI and flexibility in terms of whom we can approve and lending criteria that are easier to meet. When banks don’t approve a lender, Capitex Finance is there to help. deep neural networks to lending operations of any size. OZAN CANGUREL CAPITEX FINANCE What I like about the system is that almost everything we need to operate efficiently are available. The system’s access restrictions and the initial credit scoring helped us implement internal control policies. The reports are also very helpful in determining the status of our loan portfolio and it’s real time. VANESSA SIAO DAVID CHIEF OPERATING OFFICER, OAK DRIVE VENTURES TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 15
27 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT DEFI SOLUTIONS A top priority for Heritage is finding better ways to serve our dealer network that spans five states. The defi LOS fits the bill. The system’s flexible design and performance reliability has made it possible for us to start automating our processes without sacrificing who we are as a finance company. Now we can offer dealers more speed and efficiency as we continue our efforts of providing service excellence for our dealer partners. defi SOLUTIONS has changed the MIKE MONAGHAN VICE PRESIDENT OF SALES AND MARKETING, HERITAGE ACCEPTANCE CORPORATION auto lending software industry by offering the only SAAS platform that gives lenders the freedom to focus on lending while They focus It was primarily the flexibility and control we'll have that led us to our decision to choose defi SOLUTIONS. After reviewing most of the LOS solutions out there, it was apparent that defi on the technology. Auto lenders provided us with the most robust solution, yet still offers the simplicity to our end users allowing are traditionally held captive by us to provide even better service to our dealers. outdated and inflexible legacy SCOT SEAGRAVE origination systems. Recent PRESIDENT, AFS ACCEPTANCE post-recession industry growth is punctuating the problem as new lenders enter the market, creating We were pleased with not only the affordability of the defi LOS solution but how easy it was to increased demand for a flexible, deploy and configure to our specific needs. The defi team was great during our implementation affordable and easy-to-implement and our employees have made the system our own quickly and efficiently. solution. DANIEL PORTER CEO, SKOPOS FINANCIAL Deploying defi SOLUTIONS enables us to move into auto finance quickly and economically while creating the best experience possible for our customers. The defi system meets all of our current requirements and has flexibility built in for easy expansion. LOUIS OCHOA VICE PRESIDENT OF LOAN SERVICING, CASHCALL TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 16
2022 SPRING 2022 Loan Origination Software Category SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 17
12 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT FLOIFY Floify enabled us to triple our business without having to hire any additional staff! HANNAH WINDHAM LEGACY MUTUAL Floify can help you close loans an average of 4.5 days faster and increase annual loan volume by I signed up for Floify in 2015. Since then, I have averaged over $165 more. Are you ready to experience million in personal production and never had to email a client for the newest technology with a documentation. The $79 monthly subscription cost contributed to my stream-lined solution for revenue of over $100,000 per month. automated mortgage origination, allowing brokers and agents to CALUM ROSS PRINCIPAL BROKER AND WEALTH ADVISOR, THE MORTGAGE MANAGEMENT GROUP increase their ROI. If we have a loan officer doing a lot of loans, we need to give them a junior loan officer, somebody who can help with that origination process. MIKE MULWANI SVP/DIRECTOR, FIRST INTERNATIONAL BANK & TRUST TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 18
26 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT HES FINTECH HES allowed us to automate the entire lending process as efficiently as possible: from tracking leads and submitting applications, to working with overdue debts. Also, thanks to the technological solutions of the HES team, we were able to significantly improve the customer experience and create a stable competitive advantage. ALIYA AKCHURINA CHIEF EXECUTIVE OFFICER, CASHU HES FinTech is an established market leader that provides financial institutions from all over The lending industry is a highly competitive space. Success here highly the world with intelligent automation-driven lending depends on the right technical solution. The platform by HES fully meets our solutions. To reduce the cost and requirements and demonstrates high performance. complexity of loan lifecycle KAREL LACHMAN management, they deliver a CHIEF OPERATING OFFICER, VYRUCHAI DENGI unique lending experience for lenders of all sizes. Available in 90 days, HES FinTech’s platforms We have placed our trust in HES FinTech’s expertise to develop lending software and predictive streamline the lending process in analytics software for our financial services. Their expertise will support the launch of our its entirety, replacing repetitive updated platform, which will benefit from automation, clear UI & UX, and a fully functional customer portal. manual tasks with automation to help lenders solve the toughest MAZEN ALASNAG HEAD OF LOAN MANAGEMENT, WA’ED industry challenges. HES is one of those vendors that offers comprehensive front-to-back solutions with full integrations. We feel confident that our new machine learning platform will allow us to offer clients best-in-class investment advice services. EDWARD DOWNPATRICK CHIEF EXECUTIVE OFFICER, FINTUITY TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 19
222 VIEW ALL REFERENCES Total Customer References Featured Testimonials ABOUT ICE MORTGAGE TECHNOLOGY Encompass helps us stay efficient, stay compliant, and ensures we have thorough and complete documentation of our loans throughout the process. But, it’s also flexible enough to let us be creative. Our VP of IT and his team are continually dreaming up things to help us improve loan quality and closing speed, and do difficult things more simply. TINO DIAZ SENIOR VICE PRESIDENT, COLUMBUS CAPITAL LENDING ICE Mortgage Technology, a part of Intercontinental Exchange, Inc. (NYSE: ICE), combines the innovation and expertise of Ellie We built custom screens in Encompass that quickly showed what happened in the loan—what Mae, Simplifile and MERS to ‘was’ versus ‘what is,’ what changed, and whether or not that change was stopping the progression of milestones. We set up a workflow where, if the loan changes hit a certain automate the entire mortgage threshold, it would stop so we could address the impact of those changes. process from consumer BILL HENDRICKS engagement through loan BUSINESS SYSTEMS ANALYST, PEOPLES NATIONAL BANK registration and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination Now, we go into the pipeline view in Encompass, right click on the loan, follow platform provider for the mortgage the prompts, and ship to the investor. It takes seconds. Kudos to the way ICE industry with solutions that enable Mortgage Technology designed the workflow. lenders to originate more loans, INDAR RAMADHAR lower origination costs, and reduce VICE PRESIDENT OF LOAN DELIVERY AND QUALITY CONTROL, WATERSTONE MORTGAGE the time to close, all while ensuring CORPORATION the highest levels of compliance, quality and efficiency. We now have a highly efficient business and the ability to scale up very quickly. Encompass is, hands-down, the best bang for the buck, and the most robust software that you can buy to originate a loan today. JEFF DOUGLAS CEO, WYNDHAM CAPITAL MORTGAGE TRUSTED BY SPRING 2022 CUSTOMER SUCCESS REPORT Loan Origination Software Category 20
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