NEWS SOURCE: Mortgage Machine Services
ADDISON, Texas, Feb. 3, 2015 (SEND2PRESS NEWSWIRE) — Mortgage Machine Services (MMS), a leading provider of enterprise lending solutions, announced it will begin offering the source code to Mortgage Machine™, its flagship loan origination system (LOS), to the entire mortgage industry. Previously hosted as a SaaS solution for a select group of mortgage banks, Mortgage Machine is a highly customizable origination platform that supports Retail, Wholesale and Correspondent lending.
Mortgage Machine’s original users included Mid America Mortgage, Inc., which Mortgage Machine Services owner Jeff Bode also owns. According to Bode, the ability to tailor Mortgage Machine to Mid America’s origination environment and make changes as needed – without purchasing an expensive development kit – to maintain compliance demonstrated the value of working with the source code.
“Lenders are no longer at the mercy of enhancement requests to obtain an origination platform that provides the functionality they desire,” Bode said. “Mortgage Machine allows lenders to drive their own enhancement requests and be better poised to make changes with the flow of the industry, not to mention changing regulations, by working directly with the system’s source code.”
In addition, creating custom integrations to extend Mortgage Machine functionality to their valued third-party origination channels provided Mid America with a strategic value add in the marketplace.
“Competitive differentiation is the name of the game for mortgage bankers in 2015,” Bode explained. “By offering its source code to lenders, we are empowering lenders to create an origination environment in their own image, one that puts them in total control of their systems to customize and refine as it makes sense for their unique organization.”
“Mortgage Machine is really tailor-made for our industry,” he added. “One of the main selling points of a home/mortgage is the comparison of rent versus purchase. Why pay someone else rent for a home or software, in this case, when you could have something that is your own? Hosting your own software takes the “landlord” out of the picture. You can design the system around your existing workflow rather than changing your workflow each time your LOS gets updated.”
To make the most of the Mortgage Machine system, Bode said he encourages lenders to consider the resources at their disposal.
“Undertaking total ownership of your LOS isn’t to be considered lightly – you do have to have some infrastructure in place to handle a permanent project of this magnitude,” Bode said. “However, even if a lender contracts out the programming of Mortgage Machine customizations, they still come out ahead because they are in control of the direction the system takes. LOS vendors design their systems for use by multiple clients, but Mortgage Machine is customized for your needs alone.”
Originally developed as a wholesale integration to Calyx Point, Bode, who is also the software’s developer, recognized Mortgage Machine’s potential beyond wholesale and spent nearly a decade expanding the system’s capabilities to support additional business channels. Mortgage Machine has been the LOS of record for several mortgage lenders, including Mid America Mortgage, Inc. and its family of brands (Mid America Lending, Schmidt Mortgage Company, Legend Lending and 1st Tribal Lending) since 2010.
Lenders interested in learning more about Mortgage Machine should contact Jennifer Olsen at 214-261-3341 or jennifer.olsen@mmachine.net.
About Mortgage Machine Services:
Mortgage Machine™ is a lender-hosted, customizable solution supporting Retail, Wholesale and Correspondent lending. The system offers a wide array of vendor integrations to assist in every aspect of lending operations. Robust security features, business rules and reporting functionality offer flexibility to support various workflow and business models. More information: http://www.mmachine.net/.
Twitter: @MtgMachineSvcs
News issued by: Mortgage Machine Services
Original Image: https://www.send2press.com/wire/images/15-0203-mortgage-machine-500×375.jpg
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Original Story ID: 2015-0203-005 (9952) :: mortgage-machine-services-offers-source-code-to-los-2015-0203-005
Original Keywords: SaaS solution, mortgage banks, Mid America Mortgage Inc, enterprise lending solutions Mortgage Machine Services Addison Texas ADDISON, Texas
Alternate Headline: Mortgage Machine Services Offers Source Code to its Loan Origination System to Mortgage Industry
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Original Shortcode for Story: http://i.send2press.com/AnEfz
NEWS SOURCE: Mortgage Machine Services | Published: 2015-02-03 16:56:37
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