Magazine article Mortgage Banking

Quadriga Mortgage Selects Mortgage Builder Platform

Magazine article Mortgage Banking

Quadriga Mortgage Selects Mortgage Builder Platform

Article excerpt

Southfield, Michigan-based Mortgage Builder, a provider of mortgage loan origination software (LOS) systems, announced that San Diego-based Quadriga Mortgage Group has begun operations using Mortgage Builder's platform.

The Quadriga Mortgage Group specializes in portfolio funding non-conforming mortgages with low loan-to-value (LTV) ratios on a wholesale basis, originated through licensed mortgage brokerages arid other third-party lending professionals. Quadriga manages a mortgage pool that is funded by private investors who are taking advantage of the benefits of investing in a diversified pool of well-secured residential mortgages.

According to Sue Villa, a 30 year mortgage industry veteran and chief underwriter at Quadriga, picking a loan origination software package for the new company was not an easy task, but one made simpler by Mortgage Builder's design concept. Her research on LOS systems revealed that Mortgage Builder offered an "everything's integrated" approach, including the availability of advanced electronic document management (EDM) that would allow Quadriga Mortgage to have a paperless operation from the very beginning. The portal capabilities built into Mortgage Builder allow third parties to submit loans and supporting information instantly online, resulting in faster, more efficient decisions.

"We are a new company, but one with generations of experience in mortgages and financial services," said Villa. "We wanted an origination technology that could do everything, was already integrated with leading vendors, and would allow us to operate with great efficiency but without necessitating a huge investment. Mortgage Builder's hosted delivery model let us open our doors with an industry-leading LOS platform while incurring costs transactionally," she said. "It is a very advanced, streamlined system and one our brokers will benefit from as well. …

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