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."