Nationstar Mortgage re-enters wholesale market and selects Overture Technologiesâ€™ Mozart Decision Engine for supportMortgagePress.comOverture Technologies, Nationstar Mortgage, wholesale, Mozart Decision Engine, Mozart POS, Bill Kelvie
Overture Technologies, a developer of decisioning technology,
has announced that Nationstar Mortgage, a mortgage lender
headquartered in Dallas, Texas, has re-entered the wholesale market
in October 2008, and has selected Overture's Mozart Decision Engine
and Mozart POS broker centric user interface as the technology it
will use to support its wholesale operations.
The decision to use Mozart was reinforced by Nationstar's
successful roll-out of Overture's Mozart Decision Engine and Mozart
point-of-sale user interface to its 200-plus retail and consumer
direct originators companywide. Thanks to Mozart, Nationstar's
retail division is now benefiting from real-time, rich automated
decisioning, which gives the lender the ability to put risk based
pricing, product eligibility, underwriting, best fit, mortgage
insurance premium calculations, fee generation and analysis, and
loan optimization into the hands of the consumer consultant, all on
a real-time basis.
"We needed a platform that supported our key competitive
advantage of delivering best-in-class service and efficiency, and
that's exactly what we got with Mozart," says Peter Schwartz, chief
information officer at Nationstar. "Much of our success is
attributable to our close relationship with Overture Technologies.
Were confident that Mozart will provide that same high-level
support for our re-entry and success in the wholesale market."
With Mozart, Nationstar's wholesale operations will be able to
provide brokers with real-time, rich automated decisioning through
its dedicated wholesale Web site, www.NationstarBroker.com,
and Nationstar will be able to manage the distribution of their
proprietary pricing, product eligibility and consumer optimization,
while successfully controlling their profitability.
As with the retail implementation, Overture and Nationstar
participated in a three-day collaborative Rapid Solution Session
(RSS) to define the wholesale requirements and functional business
design before beginning contracting and development. This joint
effort confirmed not only the scope, needs and project plan, but
also the success of the entire implementation, prior to
commencement of the project.
"We're honored that Nationstar has chosen to build upon our
recent success in supporting their retail operations," says Bill
Kelvie, chief executive officer for Overture Technologies. "As
Nationstar leverages Mozart in its wholesale operations, placing
real-time, rich automated underwriting decisions in the hands of
the broker, it is effectively creating a new benchmark for the
wholesale mortgage industry. Were pleased to be working with an
organization that's so committed to raising the bar and pushing the
industry toward progress."
For more information, visit www.OvertureTechnologies