Empowering Mortgage Acquisition Through Digital Innovation

The client is a national network of wholesale banks; five of its district banks provide funding, community lending, and other banking services that meet their communities’ credit needs, expand housing opportunities, and drive economic development, and they sit inside a national network spanning more than 7,700 financial institutions and 12 District Banks. They needed a web-based system to automate contracting, purchasing, and tracking the delivery of mortgages from their member banks, credit unions, and other financial institutions. i3solutions built the Loan Acquisition System (LAS), an online custom web application where Participating Financial Institutions (PFIs) retrieve current pricing from the district banks, commit to delivery contracts, and deliver loan pools. A complex rules engine validates every uploaded loan and returns instant feedback on whether the upload succeeded, with descriptive information on any issues, and online analytic tools show PFIs which of their loans best fit the criteria in each delivery contract. For the district banks, LAS automates the contracting, purchasing, and tracking work, manages the loan warehouse, validates loan information automatically against stringent mortgage industry standards, and generates timely and actionable reports; the system manages over $40 billion in mortgages.

What does the Loan Acquisition System do for Participating Financial Institutions?

PFIs use LAS to retrieve current pricing from the district banks, commit to delivery contracts, upload and validate loans, and deliver loan pools. Online analytic tools show which of their loans best fit the criteria outlined in each delivery contract, which supports both decision making and contract fulfillment.

How does LAS validate the loans a PFI uploads?

A complex rules engine checks each upload and returns instant feedback on whether it succeeded or failed, along with descriptive information on any issues encountered. LAS also validates loan information automatically against stringent mortgage industry standards, which reduces manual intervention, minimizes errors, and accelerates the transaction cycle.

Can a district bank buy mortgages from smaller member institutions through the system?

Yes. LAS lets the district banks purchase mortgages from member banks of any size, so both large and small financial institutions can participate fully, which broadens the scope of available mortgage products.

What visibility do the district banks get into the mortgage pipeline?

LAS provides comprehensive tracking of the mortgage pipeline with detailed visibility into each stage, so the banks can anticipate bottlenecks, optimize workflow, and make data-driven decisions. It also gives Participating Financial Institutions real-time access, generates timely and actionable reports, and tracks and analyzes loans across a portfolio of over $40 billion in mortgages.

If loan commitments, pricing, and delivery data still move between you and your counterparties by spreadsheet and email, the delays and the errors tend to collect in the same two places: validation at intake, and status once a pool is in flight. A first conversation covers who those counterparties are, what has to be checked before a loan is accepted, and which parts of the contracting, purchasing, and tracking cycle are worth automating first. You leave with a scoped view of that work and the questions it raises about your existing systems, which is generally what a steering committee wants in hand before it funds a build. Start the conversation