Mortgage lender and servicer Pennymac Financial Services is now using Vesta Innovations’ loan origination system (LOS).
“Our partnership with Vesta is a great example of how Pennymac continues to lead the industry through innovation,” says Doug Jones, president and chief mortgage banking officer at Pennymac, in a release. “Investing in and integrating Vesta’s platform will further strengthen our technology ecosystem, allowing us to deliver an even faster, more intuitive mortgage experience for customers. Early results are very promising, with an increase in efficiency and improvement in our customer experience. This collaboration sets a new standard for the industry as a whole and truly elevates the customer journey.”
Pennymac’s adoption of Vesta’s platform establishes it as one of the strongest players in the LOS space. The platform is built on a flexible, open architecture with best-in-class APIs.
With Vesta’s LOS, Pennymac can extensively configure dynamic workflows around its unique business needs. By layering on data-driven tasks, native automations, and advanced AI to structure and interpret loan data, Vesta’s implementation has delivered meaningful efficiency gains across the entire mortgage lending process, from application to closing.
For Pennymac’s customers, this partnership will deliver a faster, more streamlined, and easier-to-navigate mortgage application process. Vesta’s customizable platform enables seamless communication among loan officers, customers, and realtors, significantly reducing the time it takes to close a loan. This provides a more efficient and user-friendly experience from start to finish.
“Pennymac is a great partner and a tech-forward leader in the mortgage industry,” says Mike Yu, co-founder and CEO at Vesta. “Like us, they firmly believe that the industry needs state-of-the-art technology that supports a more operationally efficient lending process and Vesta delivers. Our modern platform helps lenders reduce costs, improve loan quality, and deliver a superior customer experience. Our collaboration with a market leader like Pennymac will set a new standard, driving a new era of lending and elevating the entire mortgage process for the industry as a whole.”