Finance Articles

Mortgage Bankers Sought for Unprecedented Enterprise Lending Solution Co-Development Initiative: Motivity Solutions Launches "LenderBuilt" a Joint

DENVER (Business Wire EON) December 10, 2007 -- Motivity Solutions was launched by the founders of Watermark Financial Partners, a private mortgage banking firm that was the 7th largest FHA lender in the country with closings of almost $1.5 billion per year. Its sale in 2004 was noted as the largest acquisition of a private mortgage banker that year. Watermark's success was credited to its proprietary technology platform and business process automation, which resulted in unmatched productivity and profits. Motivity is building on this proven foundation with its next generation of mortgage technology, Movation, a revolutionary enterprise lending solution for mortgage bankers.

"We are seeking leading mortgage bankers to co-develop Movation in an actual production environment," said Motivity Solutions President and COO, Todd Sherman. "Our success in developing a proprietary end-to-end system for Watermark Financial Partners made it clear that there is no better laboratory for cutting edge mortgage banking software than the real world of mortgage lending."

"Lenders with a long-term vision realize that now is the time to step back and completely re-evaluate their technology needs, then map out a strategic vision for the future," said Motivity Solutions CEO, Tyler Sherman. "Innovative technology is available to help companies take a quantum leap towards becoming more efficient, more nimble, and ultimately more profitable."

Although upgrading technology and revamping entire systems is paramount as lenders strive to become more efficient in an uncertain market, the challenge comes down to finding the money to make the necessary shift. LenderBuilt is the perfect solution to accommodate a select group of visionary, yet practical, mortgage bankers, he added.

In exchange for helping shape the development of Movation, bankers will receive a truly customized solution at a fraction of the cost. Movation is being developed in phases, with each module available as a stand-alone product. Developing Movation in modules (i.e.: imaging, CRM, products and pricing, 3rd party integration, etc.) allows companies to address critical technology gaps and solve their biggest pain points without having to replace their existing technology platform. Movation in its entirety will be comprised of industry leading modules that can work individually or as part of the complete end-to-end lending system.

"As a team of seasoned mortgage business professionals, the executives of Motivity Solutions have an intimate understanding of the challenges confronting a typical mortgage banking company," said Tyler Sherman. "We've launched LenderBuilt to identify mortgage bankers that are ready to become industry leaders through innovation and technology."

Motivity Solutions believes current mortgage technology creates inefficiencies and fails to meet the needs of most mid-size mortgage bankers. Large enterprise systems are expensive and take too long to customize and implement, forcing mid-sized mortgage bankers to piece together several off-the-shelf products that are rigid and lack integration. Companies are forced to conform to the software, whereas ideally, the software should conform to the company. These disparate systems do not provide the security, automation, and auditing necessary in today's heavily regulated mortgage environment.

"Let's be frank, the current mortgage industry crisis is the result of a series of shortcomings that must not be glossed over," said Motivity's Chairman, Doug Sherman. "One of the most overlooked issues is the inadequacy of mortgage software to effectively manage the multi-faceted nature of mortgage lending."

According to the Shermans, there is an infinite amount of data available in organizations today, but managing data from multiple sources as actionable information is problematic. Motivity Solutions first objective has been to enable data integration from disparate systems into one location, allowing businesses to harness that data to generate actionable information.

Motivity's business intelligence solution is the LenderBuilt program's flagship module. Movation Business Intelligence allows companies to integrate their core business systems into a comprehensive data warehouse built on MISMO standards. Enabling authorized access to real-time information through intelligent reporting, performance dashboards, scorecards, and key performance indicators (KPIs), Movation Business Intelligence delivers the right information, to the right people, at the right time.

"Our industry is hungry for win-win solutions. The immediate positive response to this project led us to the idea to build all of our components as co-development ventures," said Todd Sherman. "By designing our modules around industry leading best practices, we will have products that immediately compete for best-of-breed within their industry segment. More importantly, our system works with lenders' existing software programs so there is immediate value realization without the pains typically associated with upgrading technology. With the LenderBuilt program, mortgage bankers get a custom built solution and Motivity can bring a better product to market faster."

For more information about the LenderBuilt co-development initiative, please visit www.LenderBuilt.com, or contact Tyler Sherman, CEO, at Tyler@MotivitySolutions.com.

About Motivity Solutions

Motivity Solutions is a Denver, CO-based provider of innovative technology solutions for the residential mortgage industry. Its origins stem from the creation, growth, and sale of a successful $1.5 billion mortgage banking business built on solid principles, workforce automation, and a proprietary technology platform. Motivity is focused on working directly with mortgage bankers to co-develop solutions that will boost the productivity and return-on-investment of their current software resources.

Motivity Solutions launched LenderBuilt, a nationwide search to identify leading mortgage bankers to participate in the development of Movation's various modules. LenderBuilt is ideally suited for mid-sized bankers with between 50 and 200 employees, who originate 100 or more units monthly through multiple branches and origination channels. Participating lenders will work in conjunction with Motivity Solutions to map core processes and business objectives, and develop solutions at a fraction of the expense to acquire comparable custom functionality.

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