Optimizes loan closing process for originators and secondary desks; provides bidirectional tool for comparing loan prices and critical loan data
Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination technology and fulfillment services for mortgage lenders, announced an integrated joint offering with Mortech Inc., a mortgage technology software company specializing in daily pricing, product decisioning and lead management solutions for secondary marketing teams and mortgage bankers.
The collaborative effort offers users of WGS’ loan origination system (LOS), NetOxygen, to access Mortech’s Marksman loan product and pricing engine and compare real-time pricing quotes from multiple investors for any type of loan program within seconds. The Marksman -NetOxygen joint offering increases conversion rates throughout the sales cycle and optimizes the loan closing process for originators and secondary desks.
The new integration allows users to perform various lender tasks more effectively, such as instant rate searching and re-pricing, viewing detailed pricing summaries, accessing product guidelines and gaining product eligibility intelligence. What’s more, data is transmitted seamlessly between the two solutions through an exclusive bidirectional process. NetOxygen can be enhanced so that customers can trigger price requests to their Marksman account based off of a particular loan status. Marksman then transmits critical data back to NetOxygen. The free flow of data exchange allows for an end-to-end loan closing experience.
“Our partnership with WGS offers a dynamic solution for efficiently originating and closing loans,” said Don Kracl, president of Mortech. “The interface combines the best features of both NetOxygen and our Marksman loan product and pricing engine, reducing the time and resources many lenders and secondary desks currently devote towards the processing of loans in their pipeline. We’re confident this synergistic collaboration will promote a unique and efficient work-flow process for the mortgage community.”
“By adding the Marksman interface to its already robust vendor ecosystem, WGS has enhanced the overall loan closing process by providing lenders the opportunity to access all loan rates across all channels through a single at-a-glance portal,” said Anil Raibagi, business head for WGS. “By eliminating such time-consuming search processes associated with pricing rates and product guidelines, NetOxygen provides greater workflow automation and helps lenders to focus more on their lending and closing deals.”
Mortech supplies all-in-one pricing, rate notification, prospect management tools, custom rate sheets, secondary marketing tools, loan product eligibility and guidelines services to thousands of mortgage professionals. Marksman, Mortech’s flagship web-based software, provides lenders with tools designed to automate the loan process and manage sales cycles - increasing loan close-ratios dramatically. Product and pricing information from all major investors is maintained by industry experts in real-time resulting in the most full-featured and affordable PPE and CRM solution available. Mortech is recognized by Mortgage Technology Magazine as a 2010 Top 50 Service Provider and a Mortgage Technology Magazine 2010 Synergy Award Winner with partner, AllRegs. Mortech is a preferred technology partner for Google AdWords Comparison Ads. For more information, visit www.mortech-inc.com.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions (WGS) provides cost-effective, end-to-end loan origination technology and fulfillment services to financial institutions. Users benefit from a variable cost, outcome-based model as well as WGS’ customer service improvements, business process outsourcing services and rule-based workflow-enabled processes across the enterprise. WGS’ lending technology and fulfillment processing solutions enable users to reduce costs and streamline workflows and business practices. WGS, formerly Gallagher Financial Systems, was acquired by Wipro Technologies in July 2008. For more information, visit the company's Web site at www.gogallagher.com.