SCA Offers New Secondary Market Service for Small Lenders
Big News: One of the great things about SCA is the range of issues we get to see, and the wealth of knowledge we get to tap into while working with dozens of clients on a monthly basis. Today, we'll share some important news about SCA Services.
Spillane Consulting Associates is pleased to announce a new Lock-Desk fulfillment service that will allow small lenders who currently utilize or are in the process of implementing the Optimal Blue Product & Pricing Engine (PPE) to outsource their Secondary Market functions in order to gain a competitive edge and increase profitability while mitigating risk to their institution.
Exploiting SCA’s most effective lending strategies and web-based technology will allow the Lender to:
Reduce staffing costs
Ensure reliable “Best Efforts” executions
Engage both seasoned mortgage banking professionals and proficient Rate-Lock specialists with over 30-years of Secondary Market industry experience.
SCA’s complete Lock Desk services include:
Price Concession Processing**
*Based on Lender’s Rate-Lock and Secondary Market policies.
**Based on Loan Level Lender approval and the Lender’s Rate-Lock and Secondary Market policies.
Lenders who wish to leverage this service:
Must license the Optimal Blue PPE
Loan Origination System (LOS) must be either Finastra’s Mortgagebot or Ellie Mae’s Encompass system.
Clearly defined Rate-Lock and Secondary Market policies
NOTE: SCA can assist with the creation of either a rate-lock or Secondary Market policy and, SCA is also available to assist in the implementation process with either the Mortgagebot or Ellie Mae LOS platforms as well as the Optimal Blue Product and Pricing Engine.
For more information, please contact Bill Dolan, CMB, Director of Business Development at (781) 356-2772 or email at WDolan@scapartnering.com
Spillane Consulting Associates has served the residential mortgage lending business since 1991. We have specialized in mortgage banking consulting services and provided quality control reviews, risk management and process consulting and employee training to credit unions, community banks and non-depository institutions. We are a thought leader on the strategic growth of residential mortgage lending. You can learn more by visiting our website, or scheduling a meeting with me or one of my colleagues.
SCA Compliance Hotline: Need a question answered quick?
Thanks so much for reading our weekly newsletters. We're not always going to be perfect, but because we always do our best and try not to overpromise, we hope that we're always going to be trustworthy. Your calls and e-mails are very helpful - please keep contributing.