Case Study | First United Bank

Excellent support and robust functionality allow First United Bank's Mortgage Division to fully use pricing technology to manage portfolio products.

The Challenge

First United Bank has been a trusted lender for more than a century. In fact, the Mortgage Division of First United is a significant source of profitability for the bank. During the economic downturn of 2008, many lenders in their markets of Oklahoma and Texas were exiting the business. This presented an opportunity to take on new borrowers and recruit highly talented loan officers. They now have 90 loan officers and have grown from an average of 30 closed loans per month in 2005, to 500 loans per month today!

This business expansion caused First United's Mortgage Division to seek out new technology that would help them increase their efficiency and optimize their profit margin. They implemented product pricing technology for the first time, but found the vendor they had chosen employed a support model that required resources and technical knowledge they did not have. They needed to make a change that would help them:

  • Improve origination workflow efficiency and create order in the Lock Desk.
  • Get better control of pricing power in the markets they serve.
  • Support an internal portfolio of products and update pricing dynamically throughout the day.

The Solution

In January, 2012, First United's Mortgage Division implemented LoanDecisions product eligibility and loan pricing software from NYLX. "Our experience with NYLX has been like night and day from our previous vendor. We went from basic support to great support and a system that just works!" - Steve Campbell, Secondary Marketing, First United Mortgage Division.

  • The NYLX implementation process ensured the system was properly design to First United's specifications.
  • Custom lender functionality is now fully managed by NYLX and allows First United portfolio products and pricing to be fully supported within the system.
  • Leveraging the integration with Encompass360® LOS, data is passed back and forth seamlessly and workflow efficiency is improved.
  • Ongoing webinar training and an intuitive user interface provides increased usability for originator and secondary marketing functions.

The Result

"LoanDecisions works well for us. It is reliable technology and NYLX provides us even greater value through their customer service model. It has really elevated them from a vendor to a true business partner."

James Hinton
President of Mortgage Division
First United Bank

Now the Secondary Marketing team can lock loans 5 times quicker than with their previous pricing engine. They navigate through fewer screens and use the integrated historical pricing matrix display up to 5-7 times a day to deal with rate changes on lock files.

They can also easily customize and distribute pricing to multiple pricing zones, allowing them to be more competitive in markets they serve and enabling them to control their pricing power and profit margins.

With the level of service and support provided by NYLX, users know how to use the system and webinar training allows new employees to come up to speed on system functionality quickly.

"The system was easy to implement, is easy to use and the NYLX team is completely professional and is always available to us." - Steve Campbell, Secondary Marketing, First United Mortgage Division.

With LoanDecisions, First United found a solution they could adopt quickly and use to increase efficiencies immediately!

About First United Bank

  • A Community Bank serving Oklahoma and Texas through 40 Banking Centers and Mortgage Offices.
  • With more than $2B in assets, First United is one of the largest privately held community banking organizations in the country.
  • Headquartered in Durant, Oklahoma.

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NYLX White Paper

Product and Pricing Engines (PPE):
Strategic Uses for Compliance, Competitiveness and Profit

Once considered a more efficient substitute for a Rate Sheet, pricing engines are evolving to be the compliance-ready selling tool for originators and the strategic profit tool for secondary marketing.

This white paper will describe three best practice uses for today's best of breed pricing engine:

  • Pricing for compliant, consultative selling using a 360° view of eligibility.
  • Pricing for marketplace competitiveness and strategies for achieving your market position goals.
  • Pricing for profit optimization and support for risk avoidance, risk remediation and reward optimization.

Extract additional return on investment by using your pricing engine technology more strategically.

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Second Liens: When They're Under-Recognized, You're Over-Exposed

The Federal Reserve's growing concern over second liens and the exposure they create for financial institutions is driving the need to improve second lien credit analysis and segmentation.

  • Second liens represent 9% of the $9,700 billion in household mortgage debt.

Fragmentation related to ownership and Fed guidance for gathering and analyzing data on firsts (regardless of ownership), has created challenges for a significant number of institutions with second liens but no direct financial interest in the first.

  • Among properties with first and second liens, 62% have different servicers for the first and second mortgage.

This NYLX Executive Brief will summarize commentary, reports and interagency guidance regarding second liens and provide insight to help you:

  • Comply with interagency guidance and surface payment status of all liens to properly determine loss reserves and accurately calculate CLTVs.
  • Establish an ALLL (Allowance for Loan and Lease Losses) process that recognizes the differences between HELOC and closed-end second borrowers.
  • Improve second lien credit analysis and segmentation based on origination characteristics and performance profiles.

BONUS: Along with the white paper, we have also included an executive summary of the January 31st Interagency Guidance as a quick reference.

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NYLX White Paper

Approaches for Compliance with the January 31 Interagency Guidance on Risk Management Practices

The Fed, OCC, FDIC, and NCUA jointly released an important policy guidance letter on January 31, 2012. This Executive Brief from NYLX reviews these requirements and explores approaches for compliance.

  • Learn how loss estimation using segmentation and trending can help you define an impairment pool and reasonably estimate loss for that pool.
  • Consider a methodology for refreshing information that is readily available in order to meet the primary guidance to monitor all credit quality indicators.
  • See how much you can save by using a segmented analysis approach that also provides more insight into your loan portfolios and helps you calculate more accurate ALLLs.

Whether you buy or build a risk management platform, technology is the key to enabling compliance. Read this brief and also understand the challenges related to both.

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