Brookline, Massachusetts (PRWEB) December 01, 2011
First American Mortgage Trust (privately held) has selected Southfield, Michigan-based Mortgage Builder Software as its new loan origination platform after a lengthy evaluation process. First American Mortgage Trust will implement the Mortgage Builder system after three months of customization and training to help the company compete nationally in the wholesale and correspondent lending markets.
Barry Polack, president and CEO of First American Mortgage Trust, came to the realization that the company needed the best web-based software in order to meet future growth objectives. The company’s current systems were not sufficiently integrated and entering data into multiple systems was both time consuming and frustrating for employees. Customers and business partners were unable to track the progress of their loan without placing calls or sending emails to the company. “We were falling behind due to outdated technology and we needed to address that issue to continue our growth,” Mr. Polack explains.
The company embarked on a more than year-long evaluation of competing loan origination products. The company’s unique niche with FHA 203B and 203K lending programs presented problems for numerous loan origination software providers, many of whom are focused on conventional loan products. “Mortgage Builder rose to the top of the list because they understood the FHA product lines and were able to intelligently answer First American’s questions about how the software handles government regulation and oversight,” Mr. Polack notes.
Vice President Stacey Bambrick explains, “We evaluated many options for replacing our current [loan origination] software, and none of the other vendors addressed the FHA requirements. They seemed to downplay those aspects and gloss over them. Mortgage Builder was able to come in and consistently address those issues and come up with solutions that met both the needs of our company and FHA.” Chief Information Officer, Ariel Gruzman, comments, “Mortgage Builder was willing to work closely with us to customize their software to our Business Processes. Whenever an issue surfaced, the team at Mortgage Builder addressed it expeditiously.”
Mortgage Builder allows First American Mortgage Trust to add a web portal to bring loan submissions into the system faster and more securely. The web portal is customized and is built into First American’s existing website. “We wanted to make sure that the transition to Mortgage Builder was seamless and provided as little disruption to our employees, business partners, and customers as possible,” says Mr. Gruzman.
“First American Mortgage Trust is excited to implement the Mortgage Builder platform and looks forward to future growth using the system’s advanced capabilities,” Mr. Polack says.
About First American Mortgage Trust
First American Mortgage Trust is an FHA manual underwriting lender and GNMA approved seller-servicer. In business for more than two decades, First American Mortgage Trust is licensed in 20 states across the country. First American Mortgage Trust prides itself on being able to offer loans to more borrowers through manual review rather than relying on automated findings. First American Mortgage Trust employs a vast network of more than 350 third-party originators and correspondents to offer our products to deserving borrowers. For more information, visit http://www.nxtloan.com.
About Mortgage Builder
Southfield, Michigan-based Mortgage Builder Software, Inc. has been providing industry-leading loan origination software (LOS) to mortgage banks, community banks, credit unions and other financial institutions since 1997. Mortgage Builder was the first LOS to provide its full capabilities in Application Service Provider (ASP) form, as Software as a Service (SaaS), and in the traditional licensed, server-based configuration, providing complete flexibility to suit all clients’ business models. For more information, visit http://www.MortgageBuilder.com.
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