Magazine article Mortgage Banking

Dynatek's Plug-In Partner Network Grows

Magazine article Mortgage Banking

Dynatek's Plug-In Partner Network Grows

Article excerpt

Livonia, Michigan-based Dynatek Inc. announced that its Plug-In Partner Network experienced major growth in 2006 through its expansion of the number of plug-ins and partners from 110 to 125.

Dynatek's addition of 15 new plug-ins in 2006 represented a 13.64 percent growth in the number of partners, bringing the company's grand total up to 125 plug-ins in 17 categories and tripling the number of choices available to MORvision[TM] customers since 2004. Plug-in transactions also grew by 241,724, bringing the company's two-year adjusted growth to 86 percent, according to Dynatek.

In total, 1,459,959 transactions were recorded by Dynatek's Plug-In Partner Network in 2006, with an average of more than 121,000 transactions monthly. Compared with a monthly average of 72,000 transactions in 2004, this is a 70 percent increase in just two years, according to Todd Luhtanen, Dynatek president and chief technology officer.

"The overall mortgage volume in 2006 was actually less than the volume experienced in 2004 and 2005, so you really have to take the shrinking market into consideration and look at the adjusted numbers," said Luhtanen. …

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