Banking CIO Outlook

MortgageFlex Systems

One System for all Mortgage Channels

Lester Dominick, CEO, MortgageFlex SystemsLester Dominick, CEO
While the tinted skyscrapers on the banks of St. Johns River exude an urban core, MortgageFlex Systems nestled in a ninety-year-old historic building reflects its years of legacy in the lending industry. Founded in 1980, when automated mortgage lending was based on mainframe architecture, MortgageFlex Systems was one of the first few companies to introduce software solutions that ran on microcomputers. This move not only enabled the company’s clients to improve their operational efficiency at less cost but it also became a testament to the company’s fundamental goal—to simplify mortgage lending with leading-edge technology. Today, with close to four decades of experience, MortgageFlex Systems continues to refine their cost-effective and innovative mortgage loan origination and servicing software solutions by using best practices gleaned from market needs and customer feedback. The company’s MortgageFlexONE product platform supports evolving business processes and government compliance requirements with business rules, intuitive workflow, and an embedded product and pricing engine.

“MortgageFlexONE stands true to its name as it eliminates the need for multiple systems and enables clients to rely on a single software to originate all types of loans ranging from mortgages, HELOCS, construction to consumer loans,” remarks Lester Dominick, CEO of MortgageFlex Systems. An end-to-end solution that handles origination, acquisition, and servicing, the MortgageFlexONE package is built on Microsoft technology and easily integrates with other solutions. Designed to be feature-rich and comprehensive, MortgageFlexONE uses the same database for consumer and mortgage loans. The product not only allows loan officers to close more loans and simplify back office and mortgage underwriting but lenders can decide the functions they wish to expose to the consumer. On the other hand, the consumer portal redefines digital mortgages where borrowers can start an application, chose a loan officer, use mortgage calculators, or upload required documents.

MortgageFlexONE stands true to its name as it enables clients to rely on a single software to originate all types of loans


The portal is easy to use, and consumers have real-time access to the status of their loans. The system also comprises three additional portals that support wholesale and correspondent production channels for large-sized lenders and a portal for bank branches to support their retail customers.

In line with constantly changing compliance mandates, Dominick asserts that adhering to financial regulations is the company’s primary objective. While a lot of other companies in the market wait till they are reviewing documents or drawing disclosures to conduct compliance checks, MortgageFlexONE addresses compliance requirements throughout the origination process in real time. This not only helps save time and the disruptions fixing errors but also significantly minimizes the cost to cure for errors, compliance or otherwise. Dominick informs that the company has never missed a compliance delivery date.

Keeping in mind the importance of security and transparent hosting services, MortgageFlex partners with Microsoft as a Gold Application Developer. The company delivers a unique combination of secure business continuity and cost-effectiveness and recommends a hosting configuration to clients based on the loan volumes and user count. With Microsoft Azure, MortgageFlex can upgrade servers on a temporary basis during peak volumes and then reduce the resources when the volume is less. The best part of this scalability is that clients only pay for the services and resources used.

Always up to date with current market trends, MortgageFlexONE has undergone three complete revisions and is currently an infusion of the best technology trends in the industry. Dedicated to providing lenders with smart software Dominick says, “The fourth generation of MortgageFlexONE is currently in testing and will be rolled out in November 2017.”
Top 10 Lending Management Technology Solution Companies - 2017

Company
MortgageFlex Systems

Management
Lester Dominick, CEO

Description

Provides innovative mortgage loan origination and servicing software solutions to the lending industry

MortgageFlex Systems News

LoanPASS and MortgageFlex Partner to Simplify Mortgage Lending

Industry’s first cloud-native based mortgage LOS and servicing system connects with leading rules-based loan decisioning engine

MIAMI, FL, USA-- LoanPASS is excited to announce its strategic integration with MortgageFlex. This collaboration is a pivotal step forward to meet the evolving needs of mortgage lenders, fueled by a surge in demand for modern API tech stack integrations.

MortgageFlex is committed to delivering sophisticated origination and servicing solutions, prioritizing client experience and top-tier customer service. We collaborate with IMBs, Banks, Credit Unions, and state agencies, tailoring our functionality to meet the distinct requirements of residential, consumer, and Manufactured Housing lenders. The MortgageFlexONE platform and strategy meet these objectives.

The integration of MortgageFlex and LoanPASS introduces a robust solution for mortgage lenders, offering a seamless pricing experience with enhanced product eligibility features. This collaboration empowers lenders with a unified and efficient system for pricing and product eligibility, elevating the overall workflow and enhancing the borrower’s experience.

Mortgage lenders will have access to real-time pricing and product eligibility information directly within the LOS platform, providing instant loan decisioning support. “LoanPASS is recognized for its fully configurable, no-code technology platform.” Stated Derek Long, COO for LoanPASS. “Credit Unions, Banks and IMB’s can also self-manage loan programs on-the-fly, providing immense flexibility and control, while expediting the decision-making process.

John McCrea, Vice President of Sales for MortgageFlex stated, "I'm thrilled to welcome LoanPASS as a valued partner, enhancing MortgageFlex's suite of seamless integrations. The integration ensures data consistency across platforms, mitigating the risk of discrepancies and errors in the lending process. This commitment to data accuracy reinforces the reliability of the MortgageFlex and LoanPASS collaboration.”

MortgageFlex and LoanPASS are committed to supporting the mortgage industry's evolution by providing cutting-edge solutions that align with the industry's changing landscape. This integration is set to empower lenders with the tools they need to thrive in today's competitive market.