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SSFCU Invests in Automated Technology

""Mortgage Cadence, LLC"":http://www.mortgagecadence.com/home.aspx, has a new client in the ""Security Service Federal Credit Union"":https://www.ssfcu.org/en-us/Pages/default.aspx (SSFCU). Taking advantage of Mortgage Cadence's enterprise lending solutions, the SSFCU is seeking to enhance its loan originations solutions.


The company will utilize Mortgage Cadence's Orchestrator and Finale Document services to gain added compliance measures and document management. Both products will help the SSFCU streamline processing, solutions, and workflow.

David Brown, vice president of mortgage services with SSFCU, said of the company's decision to engage Mortgage Cadence's software, ""SSFCU has successfully managed mortgage complexity while maintaining company loan volume targets over the year. When we decided to increase our operational capacity, we knew that mushrooming regulatory oversight and our paper-dominated, manual processes were obstacles we had to overcome. We needed proven workflow efficiencies and process controls to manage our growth and maintain quality.


Mortgage Cadence Orchestrator provides dynamic workflow and automation capabilities, along with business policy and compliance enforcement gains ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô all significant factors in our decision to partner with Mortgage Cadence.""

The Orchestrator and Finale Document programs, when used together, will lend the SSFCU rules-based automation, compliance support, dynamic form creation, acculturation in lending processes, and faster customer service. The SSFCU handles more than $6.5 billion in assets and boasts more than 850,000 members worldwide, with a large client base in Texas, Colorado, and Utah.

Mortgage Cadence's CEO, Michael Detwiler, said of SSFCU's recent choice, ""Lenders need to up their industry standards for mortgage technology in order to thrive in today's lending environment. Continuing to stay complacent with failing systems and manual processes will only lead to self-destruction. Security Service understood that in order to continue to grow, it was necessary to consolidate manual and disparate systems for one, complete end-to-end technology solution. This new partnership demonstrates a trend in our industry where Lenders are beginning to opt for advanced technology solutions in place of attempting to build a team around disparate and incomplete offerings. Mortgage Cadence will continue to forge the way and be the go-to end-to-end Enterprise Lending and Document and Compliance Services provider.""

The SSFCU is ranked among the top 10 credit unions in the U.S. and is also the largest in Texas, where the company is headquartered. Mortgage Cadence, based in South Carolina, provides entities with a financial services data model coupled with a native-rules engine that targets workflow automation for mortgage banks, lenders, service providers, and servicers.

About Author: Abby Gregory


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