Multi-channel mortgage lender based in Tennessee First community home loan It was announced on Wednesday that it had been selected. blue sage solution The digital lending platform and its LION Consumer POS are helping the company expand its growth efforts across the 48 states in which it operates.
The move allows lenders to “modernize their mortgage business processes, improve productivity and provide an enhanced borrower experience for their customers,” the company said in a news release.
To better understand how this arrangement impacts the ambitions of both lenders and technology providers, housing wire We spoke with Andrew Badstubner, Chief Information Officer at First Community Mortgage, and David Aach, Chief Operating Officer at Blue Sage.
At First Community Mortgage (FCM), the process to select a new technology partner began in mid-2023, the company explained. Blue Sage's platform is completely browser-based and uses cloud-based automation to increase loan processing efficiency throughout the loan lifecycle. For FCM, this also includes interim services.
Budstubner said the selection of Blue Sage fits with FCM's goal of expanding scale within the 48 states where it already has an established presence.
“When we talk about growth, what we are talking about is [goals for] Many times the growth,” he said. “We are looking at implementing this system on the wholesale side as well, but that will be later this year. It is important to have a partner who can operate in both channels, which are equally important to us. ”
Budstubner also said Blue Sage's selection will help it grow through recruitment.
“We recognized the strategic benefits of using Blue Sage, which helps us drive growth by helping us hire really great talent and provide a clean user experience. ” he said. “Normally you don't think about lending platforms. [as a tool] Although it cannot be used to drive growth, in our case it is an important factor contributing to our recruiting ability. ”
Regarding Blue Sage, Aach said the company's Loan Officer Portal will be a key element in achieving FCM's growth goals as it provides dedicated tools for LOs to do their jobs.
“Many systems require loan officers to live within the same system as back-office personnel, and they don't have a system that is optimized for their role,” Aha said. “We think one of the reasons this system will help Andy attract loan officers is the fact that they can utilize this portal that is designed around the way they work. ”
Its flexibility also allows LOs to utilize the platform from their desktop computers or their mobile devices, and provides additional borrower information that is also available to customers, including an open line of communication between borrowers, loan officers, and fulfillment staff. There are also features, Aach added. .
FCM originated $2 billion in mortgage loans through its wholesale and retail divisions last year, the company reported. Blue Sage launched a new servicing platform in January that uses API-based technology to integrate loan origination and servicing capabilities.
