• Greggory B. Oberg, Esq.

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.



SCA Announcement:



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:

  • Lock Executions

  • Investor Registrations

  • Daily Reporting

  • Lock Extensions*

  • Re-Locks*

  • Profile Changes*

  • Product Changes*

  • 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?


Email:

Compliance-Question@scapartnering.com


Call:

(781) 356-2772


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**These are our opinions. We're not authorized, or willing, to express those of others.**
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