Home >> News >> Data >> CNB Credits Technology for Successful Leap into Lending
Print This Post Print This Post

CNB Credits Technology for Successful Leap into Lending

Ohio-based ""Consumers National Bank (CNB)"":https://www.consumersbank.com/ announced its entry into the mortgage origination business in April, and the company is providing insight into the initiatives that are helping build its lending practices. Highlighting the bank's strategic plans, CNB cited its strong technology partners as the keys to successfully launching its mortgage unit.


As CNB prepared to roll out its new mortgage division, the bank selected ""LendingQB's"":http://www.lendingqb.com/ loan origination system (LOS) as the ""backbone of its lending operation."" Through utilizing LendingQB's Edoc paperless system in tandem with ""ComplianceEase"":http://www.complianceease.com/mainsite/ and ""DocMagic"":https://www.docmagic.com/, CNB was able to seamlessly integrate, automate, and accelerate critical processes.


Prioritizing a strong technology solution, the bank ensured that its technology programs were in place before hiring staff, making it easier to manage costs and maximize productivity for new employees.

""We wanted a single platform that had the flexibility to adapt and scale with our lending practice as we expanded the business and brought on more employees,"" said Mike Stoffer, VP of mortgage services at CNB.

""It almost seems implausible that we can do everything we need to operate our business from cradle to grave through a simple Web-browser ... I've been in this business a long time and LendingQB has radically changed the way mortgage lenders are able to manage their business,"" Stoffer added.

Noting that CNB is now a 100 percent paperless operation, Stoffer touted LendingQB's streamlined support model. Stoffer elaborated on CNB's technological advantage, emphasizing the resulting increase in employee productivity and communication, greater visibility through detailed reporting, and lower origination costs.

""This is the most responsive technical team I have worked with in my career and that's really made a difference. My employees continue to be amazed at the power of the LendingQB system, how intuitive it is to use, and how much easier it makes their jobs,"" concluded Stoffer.

About Author: Abby Gregory


Check Also

How Real Estate Investment is Affecting Housing Supply

In 31 of the top 50 markets, professional buyers are exacerbating the inventory shortage, but in a few major metros, the opposite is true.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.