As the market has shifted and volume continues to drop, refining the loan manufacturing process and increasing efficiency is critical. With 2022 being projected as a peak year in real estate, these top-tier organizations are implementing out-of-the-box strategies for adapting and maximizing their ROI. How do they do it? Read on for more details about how they have harnessed their potential for success, and a road map for how you can too.
The 2022 ICE Innovation Award winners are:
eClose Advantage - Best Consumer Closing Experience
After many years of increasing productivity with Encompass®, Googain, Inc. integrated eClose into their operations, and never looked back. Currently, more than 70% of Googain’s loans are being eClosed with ICE Mortgage Technology. Adopting eMortgage has made them more efficient and has increased the speed and accuracy of their closing documentation. Reducing errors in the loan package has made loan deliveries much easier, and they’ve been able to sell loans faster upon delivery.
“Winning the eClose Advantage Award is really the affirmation of our commitment to using new technology. From day one, we’ve used Encompass by ICE Mortgage Technology. We are fully in alignment with the mission to automate everything we can automate in the loan manufacturing process. We've been working very hard to use technology to manufacture quality loans.”Shawn Song
Googain and other top lenders have already cleared a path to eClose, and you’re further along than you think. Find out more about what your next steps should be here.
Data Driver - Best Use of Data to Drive Workflow
When it comes to measuring success, it's all about the data for Gold Star Mortgage Financial Group. Every business decision made by Gold Star is based on trustworthy data that helps them spot deficiencies in their processes and set priorities. Using Insights and APIs, they’re able to access, process, and analyze data points in real-time to identify where they’re excelling, and where they need to improve. This gives them a jumping off point for informed decision-making. They say valuable insights like this lead to infinite ROI.
“Gold Star focuses a lot on data, and I think the reason that we won the Data Driver Award was really our commitment to the quality of data and the centralization of data and being able to leverage that data to drive our workflow and to drive our decision making. Encompass is at the center of that. Our commitment to the platform really led us to being a data driven organization because Encompass makes data so accessible. It was just a matter of taking that next step as an organization and finding ways to leverage it and simplify the lending process as much as we can.”AJ Franchi
President and COO
See a demo of the cutting-edge data technology Gold Star uses to drive their workflow here.
Intelligent Automation – Best Implementation of Automation
It’s no secret our industry has historically relied upon humans to certify data through extensive document review and classification. At Lennar Mortgage, they’ve been on a mission to shift the mundane steps in the origination process away from their talented Associates, who should be handling more sophisticated tasks, and onto the shoulders of technology. They took borrower communication and texting to the next level by putting an innovative spin on Velocify® by ICE Mortgage Technology. The entire team at Lennar Mortgage has embraced a forward-thinking approach to determine if there is a better way to facilitate an efficient process through automation.
“For Lennar Mortgage, it means everything to win the Intelligent Automation Award. Our team is strictly focused on automating everything that's rote and automatable and providing real value to our business.”Tom Moreno
Chief Information Officer
Get in-depth information about how automation can streamline lending processes throughout your loan cycle here.
Lead Management – Best Speed to Contact
Mr. Cooper knows that, for most of their customers, their home is their most valuable asset, and they’ve made it their purpose to keep the dream of homeownership alive. Leveraging technology and strategic partnerships, including Velocify by ICE Mortgage Technology, Mr. Cooper has built intuitive systems that move their customers through the lending process from inquiry to origination. They have added the ability to see current interest rates, chat online, get pricing instantly, and proceed with a loan application through prompt contact from their licensed team.
“We're extremely honored, humbled, and proud to be an ICE Mortgage Technology Innovation Award winner in Lead Management. We are a customer obsessed company, so we work backwards from the customer in all that we do. Obviously, lead management is critically important as far as matching the needs of our customers with our mortgage professionals.”Shawn Stone
Chief Revenue Officer and Head of Originations
Discover all the ways that Velocify maximizes every lead and opportunity here.
Lenders’ Choice – Best Service Provider
ValueLink Software is an ICE Mortgage Technology Partner that offers an appraisal management system. They have been working with ICE Mortgage Technology customer VanDyk Mortgage to help them significantly improve the efficiency of their valuation process. This has enabled them to close more loans at a faster pace than ever before. As a result, VanDyk Mortgage became one of the first ValueLink customers to order appraisals using Encompass Partner Connect™.
“Winning the Lenders’ Choice Award is a very proud moment for ValueLink. All our team members and employees have worked really hard with ICE and with VanDyk to make it happen. We're all excited about what the future holds and winning this award has been a phenomenal achievement for our whole team.”Aqil Ahmed
Learn more about ValueLink Software and other Partners in the Marketplace by ICE Mortgage Technology.
This is just a snapshot of what our Innovation Award winners have achieved, and there’s so much more to uncover. Visit our Innovation Awards page to get key metrics and more detailed information about each winner.