LendingQB has announced that Ohio-based Consumers National Bank is successfully utilizing its Web-based loan origination system (LOS) to operate its entire mortgage lending business. LendingQB was selected specifically to launch the bank’s mortgage business in April 2012. Since that time, Consumers National Bank has been able to grow its fledgling operations while keeping technology costs low and adding only minimal support staff.
Consumers National Bank made the implementation of technology a top priority before it launched its mortgage practice, opting to first implement LendingQB’s end-to-end LOS as the backbone of its lending operation prior to hiring staff. This allowed the bank to work with LendingQB’s implementation team to evaluate their technology and business objectives, and then configure a seamless workflow that avoided manual touch points to maximize employee productivity.
“We wanted a single platform that had the flexibility to adapt and scale with our lending practice as we expanded the business and brought on more employees,” said Mike Stoffer, VP of mortgage services at Consumers National Bank. “By working with the team at LendingQB, we have been able to create a highly efficient lending process from the point-of-sale (POS) through underwriting, processing, closing and secondary marketing. My employees continue to be amazed at the power of the LendingQB system, how intuitive it is to use, and how much easier it makes their jobs.”
LendingQB’s Edoc paperless system and seamless integrations with ComplianceEase and DocMagic allows Consumers National Bank to operate entirely within the LOS environment, automating critical processes and accelerating the flow of loan processes in an efficient manner.
“It almost seems implausible that we can do everything we need to operate our business from cradle to grave through a simple Web-browser,” Stoffer said. “Initial disclosures, closing documents, compliance checks, e-signatures—I’ve been in this business a long time and LendingQB has radically changed the way mortgage lenders are able to manage their business. Even LendingQB’s support is unlike anything I’ve seen before. They provide a chat module that resides within the system itself so that my staff can ask questions on the spot and get a response instantly. This is the most responsive technical team I have worked with in my career and that’s really made a difference. They are truly a long-term partner that listens to and works with my team.”
Consumers National Bank reports that the LendingQB system has improved employee productivity and communication, provided complete visibility through detailed reporting, cut origination costs and positioned the bank well for future growth in mortgage lending. Further, LendingQB has enabled Consumers National Bank to become a 100 percent paperless operation.
"Consumers National Bank is an innovative organization dedicated to smart growth,” said Binh Dang, president of LendingQB. “We worked with them to configure LendingQB to model their specific workflow. Our best practices allowed them to maximize usage of our system before they originated a single loan, which has proven to be key to their success. Now, as they grow their mortgage lending unit, they’ll be able to scale at a lower cost per and provide their customers with superior service at a better price.”