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LendingQB Executive Summary


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Executive Summary

Executive Summary

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  • 2. Who We Are – World Class Technology Company with Proven Success in Financial Services – 100% Web-Based, End-to-End, Single Database LOS PlatformWhy We Are Different – Single database is the cornerstone of a comprehensive 5-layered approach to compliance – True Managed Services Platform for both implementation and ongoing management – Most Experienced SaaS Vendor with the most secure platform in the industryHow We Increase Lender’s Profit – ROI-Focused approach for innovation and implementation – Proven to dramatically improve productivity and lower lenders’ cost per loan – Managed Services SaaS Model Lowers Technology Ownership Costs
  • 3. LendingQB is part of the MeridianLink Family75% market share of 400+ Credit Unions/Banks Added 25 new clients in independent credit 36% market share of top the last 9 monthsreporting companies 100 credit unions
  • 4. LendingQB (MeridianLink) is a World-Class Technology Company with a long history of demonstrated success….MeridianLink founded as privately-held California corporation ‘98 Released Mortgage Credit Link, first 100% online Built E*Trade Mortgage ‘00 credit reporting solution Released DecisionAPP for indirect auto lending ‘01 Released LoansPQ for direct lending Launched LendingQB LOS ‘03 Released HomeLoanCenter platform which became Released PriceMyLoan (used by CitiMortgage) ‘04 ‘05 Released XpressAccounts as part of LoansPQ Selected as direct connect provider by Fannie Mae ‘06 ‘09 Built proprietary AUS for HUD (H4H Program) MeridianLink Processes over 3 million transactions ‘10 Second non-agency AUS approved to connect to FHA Total Scorecard for 20,000+ financial entities Mortgage Credit Link attains 75% market share ‘12 Loans PQ Achieves 36% market share of top 100 credit unions among credit reporting companies LendingQB surpasses 65 LOS customers Meridian Link has had the same ownership structure and has been cash flow positive since it’s inception in 1998
  • 5. LendingQB LOS: Web-Based, Seamless & End-to-End Consumer Portal Retail Portal Wholesale Portal Automated Underwriting & Loan Pricing Engine eDocument Integration & eSignatures Automated Compliance Title & Closing Documents Business Rules Workflow Automation 100% Web Solution
  • 6. IntegrationsTHIRD-PARTY SERVICE/PRODUCT VENDOR INTEGRATION Initial Disclosures DocMagic, DocuTech, IDS Closing Documents DocMagic, DocuTech, IDSAnti-Predatory & State High-Cost DocMagic, ComplianceEase TIL Audits ComplianceEase State Consumer Lending Laws ComplianceEase State Licensing Regulations ComplianceEase Identity Verification DataVerify Fraud Checks DataVerify Capital Markets MCT, MCM, Flatirons Title Fee Packages FirstClose Title Credit Reports All Fannie Mae Approved Vendors Lead Management Leads360, mortgageCEO Appraisal Management GlobalDMS Appraisal Review and Scoring GlobalDMS
  • 7. Our Single Database Platform Drives the Five Layers of Compliance RISK ASSESSMENT CONTROL MECHANISM Eliminate resources wasted on poor quality loan apps LAYER 1 Automated Underwriting Prevent staff from LAYER 2 Business Rules making mistakes Automatically guide users through workflow LAYER 3 Task System Automates Issue Identification for Management LAYER 4 Scheduled Reports Ensure loans meet industry, Real-Time, Automated state & federal regs LAYER 5 Compliance Rigorous protection against operational & regulatory mistakes
  • 8. Full-Service Approach to Implementation: Faster Implementation Time, Less Cost to Clients and Reliable Implementation Success Traditional LOS Vendor Results in Failed or Costly LendingQB’s Deployment To Ensure Deployment Deployment Implementations Approach is Unique SuccessThey Provide you with a project Some large vendors have over Comprehensive system LendingQB has had no failedmanager and they conduct user 50% of their implementations deployment is included in implementations training fail pricing model Average implementation time-Lender is Responsible for Rules Average Additional Resource frame is 90 days which is half LQB is responsible for co- and Workflow configuration Costs for implementations that of other vendors managing deployment process range from $100K to $500K with client Lender configures UW No “Hidden” Costs to lender guidelines and pricing Average Implementation Cycle LQB configures your custom because lender resource Time is 6 months to one year workflow and business rules requirements are minimalAdditional training is charged per day or per hour LQB configures investor and custom UW guidelines Lender is responsible for UAT and Go-Live Unlimited training included in pricing model
  • 9. World-Class Customer Support and Ongoing Platform Management: Higher Utilization with Lower Cost of Ownership for our Clients Traditional LOS Vendor Results in low vendor Our Customer Support is Resulting in High Utilization Support… satisfaction/retention the Best in the Industry at lowest cost…Vendors do not have instant Mortech estimates current LQB is the only LOS Vendor support function and many LOS Vendor Satisfaction is with an Instant Chat Support 93% of LQB Clients rate ourtimes do not have a live voice 58% Function LQB as good or excellent answer support calls Our clients estimate that 73% of instant support chat Our clients estimate a Five of our clients estimated the average annual tickets are responded within savings of $75K to $225K in that the average support additional costs to maintain 1 minute or less annual resource maintenance response times from their their previous vendors’ requirements and costsprevious vendor ranged from 2 platforms ranged between hours to 36 hours! All on-going configuration for 1-3 full time FTEs rules, workflow, guidelines are managed by LQB, reducing Lender must manage all lender resources by at least configuration of rules and 1-2 FTEs guidelines on an on-going basis requiring at least 1 additional FTE LendingQB Support SLA’s ensure rapid response times
  • 10. We are the Most Experienced SaaS-Based Vendor: Superior Performance, Scalability and Security at Lower Cost of Ownership Traditional Vendor’s SaaS Resulting in performance & We’re the most experienced Resulting in performance & experience is limited security risks SaaS vendor security safety Most “Software as a Service SSAE 16 is the best they have We have been providing SaaS for TruSecure certified since 2000.(SaaS) Solutions” are nothing to offer 12+ years. more than web-enabled (viaCitrix) Windows applications. Dependent on third-party for The Only LOS Vendor that is SaaS model allows us to perform RI3PA/Payment Card Industry system security and unscheduled-releases as performance (PCI) compliant…. since 2008Few vendors have undergone a necessary to meet clients’third-party security audit and expectations. are not monitored by a major The largest vendor in this field LendingQB manages its ownthird-party entity (e.g., VISA, have had several incidents of Our facilities and systems have data center eliminating reliance MASTERCARD) for security system blackout within the been audited by multiple on third-party for system compliance. past 24 months. security auditing firms performance and security (TruSecure, Verizon, Tevora) for protectionScalability is not a requirement 12+ years. for single-tenant software solution providers. Our multi-tenant model means system performance is our #1 priority
  • 11. LendingQB Improves Your Bottom Line End-to-End Lender Benefits All Lending Activities • Reduce Annual Technology Cost on 1 Platform from 1 of Ownership by 25% to 50% Vendor • Reduce Your Cost Per Loan byCUSTOMer $250 to $400 ROI- Service Focused • Resulting in an Estimated We do the heavy Objective andlifting so our Lenders measurable Annual ROI for LendingQB ofcan focus on Lending results over 6-12 Times!
  • 12. Contact LendingQB• View complete demonstration of platform capabilities • Request an Enterprise Process Assessment (EPA) • Talk to lenders currently using LendingQB (888) 285-3912 3080 Bristol Street, Suite 550 Costa Mesa, California 92626