Michigan Mutual's retail channel MiMutual Mortgage has implemented technology from LendingQB for its new loan origination system.
MiMutual previous used Mortgage Builder for its back-end processes and the broker edition of Ellie Mae's Encompass for the company's retail originators. The company decided to look for an end-to-end application after Ellie Mae stopped supporting the technology MiMutual had been using, according to Daniel Jacobs, the company's executive vice president of retail lending.
"Irrespective of the specific trigger, it was time for us to have a single, integrated system that provided better collaboration and a single repository of data for reporting and compliance tracking and ultimately a better employee and consumer experience," Jacobs said in an email.
MiMutual considered potential LOS replacements based on access to data and integration with other systems in place, among other factors. Jacobs said the company interviewed multiple providers.
LendingQB's end-to-end platform is expected to streamline the origination process for MiMutual, which the lender predicted would make its turn time two weeks faster than the industry average.