Associated Bank Goes Live on Enterprise Lending and Document Preparation and Delivery Solution
Flexibility, Extensive Functionality and Rapid Product Deployment Set the Stage for Future Growth
DENVER–(BUSINESS WIRE)– Mortgage Cadence, Inc., a leading provider of Enterprise Lending Solutions (ELS) for the financial services industry, announces the successful implementation of Mortgage Cadence Orchestrator™, Harmony™ and Finale™ to Associated Bank, headquartered in Green Bay, Wisconsin. These solutions work seamlessly with one another from origination, processing, underwriting, and closing through secondary marketing to maximize efficiencies across Associated Bank’s operations and enables the company to rapidly respond to the ever-changing market conditions.
“The agility that Mortgage Cadence Orchestrator grants us is unprecedented, and it allows us to get products to market faster,” stated Scott Fecteau, Senior Vice President and Director of Mortgage and Consumer Finance. “This provides us with an enormous competitive advantage considering the state of the industry and the constant changes in regulations, especially when dealing with FHA loans. By streamlining point of sale processes throughout our loan officer network, Mortgage Cadence Orchestrator helps to increase our customer service levels while workflow tools speed the lending process. Couple that with Mortgage Cadence Finale’s ability to dynamically create initial disclosures and closing packages and deliver them securely to the borrower and settlement agent, and we are fully realizing the benefits of these solutions. This will allow us to drastically cut down our process times while taking a huge leap toward back office automation.”
Associated Bank is focused on purchasing conforming, government and jumbo first mortgage loans from approved correspondent lenders in the upper Midwest. The company has a strong retail lending channel that is supported in this implementation, including construction to perm loans and operate as a full-service mortgage conduit servicing all major secondary market investors as well as their own balance sheet products. Associated Bank’s current business model calls for servicing loans aggregately totaling in excess of $8 billion.
“Associated Bank will also be leveraging Mortgage Cadence Harmony for their correspondent Web portal,” stated Chuck Kimball, Executive Vice President of Consulting Services at Mortgage Cadence. “The portal enables Associated Bank’s aggregators with direct integration from their origination channel to their trading desk while leveraging advanced pricing, eligibility and underwriting technology to increase efficiencies throughout the channel.” Aggregators have the ability to upload loan data, register and lock loans and automate the pricing analysis and purchasing of loans. Users can view real-time loan status information and receive feedback on adjustments and correspondent pricing tiers.
“The forward thinking mindset of Associated Bank makes them an ideal customer,” stated Michael Detwiler, Chief Executive Officer of Mortgage Cadence. “They were looking for a technology partner that better positioned them for the next generation of mortgage lending, and we believe that they are going to help define what that generation looks like. Mortgage Cadence prides itself on developing tools that make it easier for clients to optimize their costs, maximize their investment, increase the efficiency of their employees and adapt within this ever-evolving mortgage market. These principles lie at the heart of our commitment to the success of our clients.”
About Associated Bank
Associated Bank is part of Associated Banc-Corp (NASDAQ: ASBC), a diversified bank holding company with total assets of $23 billion. Headquartered in Green Bay, Wisconsin, Associated has approximately 300 banking offices serving an estimated 160 communities in Wisconsin, Minnesota, and Illinois. Associated offers a full range of traditional banking services and a variety of other financial products and services. More information about Associated Banc-Corp is available at www.AssociatedBank.com.
About Mortgage Cadence, Inc.
Mortgage Cadence, Inc. is the leading provider of Enterprise Lending Solutions (ELS). Mortgage Cadence Orchestrator™ provides data driven workflow automation and seamless integration across the enterprise to help lenders achieve harmonious operational rhythm from origination, processing, underwriting, and closing through secondary marketing. The solution provides both forward and reverse lending automation – as well as support for multiple lending channels. This superior technology features business rules management, product and pricing, electronic document management, and a suite of Web portal options within one comprehensive platform. To learn more, please visit us on the Web at http://www.mortgagecadence.com.