COSTA MESA, Calif. /California Newswire/ — LendingQB, a provider of seamless Web-based mortgage lending technology, announced that it had a banner second quarter, signing 12 new clients, which are either already in production or in the midst of implementation. New clients include mortgage bankers, community banks and credit unions, illustrating the platform's ability to serve all types of mortgage lending institutions.
Customers that are in production with LendingQB's end-to-end loan origination system (LOS) report that they have been able to immediately eliminate the need for multiple systems, cut technology costs by up to 50 percent and reduce the cost to originate loans by as much 30 percent. LendingQB has accomplished these goals by emphasizing a seamless workflow that eliminates non-value added activities through automation. Examples of this include automated underwriting, business rule automation and lights-out integrations to select third-party vendors. LendingQB unifies all mortgage lending activities on a single database of record, enabling higher level functions such as rapid generation of management reports and internal communication. The entire platform is Web-based and accessed through a common Web browser, making it highly scalable and extremely efficient to deploy.
"We're seeing a rapid growth in our pipeline since we introduced LendingQB late last year," said Binh Dang, president of LendingQB. "There's a real movement among mortgage lenders to switch their LOS platforms. Dissatisfaction with service and the uncertainty of the longevity of their vendors are part of the reason. But there's also a real desire for technology advancement; lenders are treating their business in a more sophisticated manner, especially in regards to quality control and business analytics. They want a level of technology sophistication that matches their desire to grow efficiently as the mortgage industry recovers. We're glad that these new clients recognize the value we bring to their business."
LendingQB's platform is comprised of LO, TPO, and consumer direct point-of-sale Web portals for all lending channels; the PriceMyLoan pricing engine and automated underwriting system (AUS); loan processing; electronic documents, closing; secondary marketing; and interim servicing. All functions are incorporated into a seamless workflow. Another unique difference is that the LendingQB LOS incorporates business intelligence (BI) and data analytics functionality along with detailed reporting that helps lenders locate and translate their data into actionable information, enabling them to make informed business decisions that establishes a competitive advantage and leads to greater profitability.
About LendingQB:
LendingQB is a Costa Mesa, California-based company that specializes in loan origination technology solutions and services for the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan origination platform. The solution is designed to meet the needs of all types of mortgage lenders-large or small, wholesale or retail, correspondent or Internet-based-with specialized tools that are targeted, customizable and flexible. LendingQB uses a consultative technology assessment approach before engaging with new clients, and places a strong emphasis on the utilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizational performance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visit http://www.lendingqb.com/ .
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