The Cortland Savings and Banking Co., Youngstown-Warren, Ohio, has gone live with Mortgage Builder's namesake loan origination system (LOS) in its software as a service (SaaS) model.
The bank, which had been using a DOS-based system, originally considered converting to Mortgage Builder in 2006. But because the system was only available at the enterprise level at the time, Cortland Banks, with its 172 employees, had to pass.
"We were impressed with Mortgage Builder, but it wasn't until the arrival of SaaS that it really made sense for us," says Karen Clower, vice president of mortgage lending. System implementation took 37 days – an impossible feat in the days when clients hosted systems, Mortgage Builder CEO and President Keven Smith says.
Cortland, whose goals include a transition to a paperless business environment, bought Mortgage Builder in part for its electronic document management features.
SOURCE: Mortgage Builder