One of the nation’s largest mortgage bankers. It originates, purchases, securitizes, sells and services home loans.
The Company used a legacy system for its loan servicing process that was rapidly approaching its limit, to add more loans into the system. Increasing the capacity of the legacy system was strategic to the business because it had an annual portfolio growth rate of 17% per year and an origination growth rate of 16% per year. The in-house resources would not have been able to complete the project in the time required to meet the business volume forecasts.
Visionet Systems was asked to re-engineer the legacy applications to prevent the company from reaching its loan capacity limit. Visionet was selected for the project because of its
- Knowledge of the mortgage servicing process
- Reputation of high quality people
- Experience with technically complex projects.
Visionet provided a four person on-site team along with offsite resources as needed. The team analyzed the loan servicing systems to determine and then implement the software modification required to increase the system’s loan capacity.
The client realized the following benefits based on the process optimization and enhancements made to the loan serving process by the Visionet team:
- Ability to add more accounts one year sooner than expected.
- Development costs reduced by over $1,000,000.
- ROI: 9 month payback on the investment.