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United Community Mortgage Services Excel in Customer Service by Empowering Originators to be Proactive and Secondary Marketing to be Efficient

The Challenge

Donna Ward, Vice President of Secondary Marketing for United Community Bank, wanted to improve the organization's ability to better qualify borrowers earlier in process, informing them sooner if issues were anticipated. Originator had to deal with loan level price adjusters, odd products and voluminous eligibility detail that could challenge even the most seasoned loan officer. They needed quick answers which could be conveniently accessed to better qualify a borrower and minimize the inefficient use of processing and underwriting resources.

Critical to maintaining customer delight throughout the origination workflow, Donna also needed to improve lock desk efficiency. The team was finding themselves working well after hours to complete their work in support of loan volumes.

The Solution

United Community Mortgage Services became a NYLX customer in 2009. They had decided to update their loan origination system (LOS) and needed loan pricing technology that could be integrated and would help them improve efficiency and effectiveness across the origination workflow. They were looking for a best of breed solution from a vendor with a track record of continuous innovation and feature enhancements. At the time, NYLX had just announced a new release of LoanDecisions product pricing and eligibility. They knew they could immediately take advantage of the enhancements, with room to grow when they were ready.

With LoanDecisions, originators now have the tools at their fingertips to be proactive, consultative and compliant in discussions they have with borrowers.

• Eligible/ineligible reasoning provides a detailed understanding of whether a borrower qualifies, and if not, why not. Customer service and speed of service is improved, so that time is not wasted by underwriting resources on loans that won't qualify, and borrowers informed of issues sooner so they can be address earlier in the process.
• Information tools now include Scenario Desk, providing access to more detailed investor requirements and guidelines for unique loan scenarios, and MBS Quoteline integrated into the LoanDecisions interface, streaming real-time market data to make better lock/float decisions and manage the pipeline more effectively.
• Pricing displays show the lender credit available for different rate offers, providing information that closes loans when the borrower needs additional funds for closing costs
• And when borrowers aren't quite ready to close, Rate Trigger Alerts help originators to stay ahead of market changes and accelerate the match between borrower needs and market rates.

Donna has seen the impact of these tools. "Our originators are absolutely thrilled with the technology and love how the pricing engine let's them be proactive and empowered. The LOs would have my head if we took it away!"

Integrating LoanDecisions with their LOS has eliminated the re-keying of data and improved accuracy through the bi-directional flow of data. A loan file can be started in the LOS, priced and locked in LoanDecisions, and updated in the LOS seamlessly. What use to take hours, is now practically instantaneous.

For United Community Bank centralized lock desk, communications and automation tools have also created efficiencies and reduced costs.

• Lock Desk messaging and system generated alerts have streamlined communications between the originators and Secondary Marketing administrators, and allowed them to be fully tracked and maintained as part of the loan file. For example, in the instance that pricing is no longer valid for an unconfirmed lock, an automatic notification can be sent to the originator rejecting the lock. Lock expiration alerts have also reduced issues associated with re-locking loans, informing both originators and lock desk personnel of upcoming lock expiration dates.

Jenny Rogers, Pricing Desk Coordinator, says it best, "LoanDecisions has become such a part of our lives. It has streamlined our lock desk procedures such that we have been able to reduce overtime expenses, increase efficiencies and improve data integrity. Aside from the gains we acquired in error reduction, a surprising bonus was how much we saved in personnel costs."

The Result

To ensure the ongoing value that LoanDecisions can contribute to United Community Mortgage Services, a NYLX Relationship Manager works with the team to take better advantage of the features and functionality available to them. Monthly training webinars can be attended by new originators, and are also available to anyone who needs a little refresher training. Account reviews and best practice recommendations help create a customized solution as the bank evolves their pricing models and strategies.

About United Community Bank

Formed as Union County Bank in 1950, United Community Banks, Inc. is now the 3rd largest traditional bank holding company in Georgia. The bank is headquartered in Blairsville, Georgia and has 105 banking offices with locations throughout north Georgia, metro Atlanta, coastal Georgia, western North Carolina and east Tennessee.

United Community Mortgage Services became a NYLX customer in 2009.