""Lenders One Mortgage Cooperative"":http://www.lendersone.com/, a national alliance of mortgage bankers, lenders, and suppliers, announced Tuesday its members will benefit from access to ""Motivity Solutions'"":http://www.motivitysolutions.com/ Movation technology at a discounted rate.[IMAGE]
Denver, Colorado-based Motivity Solutions has agreed to be a preferred vendor for the alliance of more than 240 members.
Jeff McGuinnes, CEO of Lenders One touts several benefits of Motivity's Movation software. ""Our members will gain invaluable insight from Motivity's software into whether their staffs are meeting operational and compliance goals,"" he said.
Additionally, ""[s]enior executives will benefit from the necessary information afforded by business intelligence to make strategic, tactical, and operational decisions to increase productivity and profits, originate better quality loans, and mitigate compliance risks,"" McGuinnes said.
Tyler Sherman, CEO of Motivity Solutions stressed the importance of a system like Movation in the current industry environment.
""As lenders face the possibility of lower originations in months and years ahead, they will need to run as efficiently as possible,"" Sherman said.
The industry is expected to experience a decline in originations over the next couple years, according to recent data from the ""Mortgage Bankers Association"":http://www.mbaa.org/default.htm (MBA).
The MBA anticipates originations falling from $1.75 trillion in 2012 to $1.4 trillion this year, followed by another decline in 2014 to $1.06 trillion.
The driving factor in this scenario is rising mortgage rates and declining refinance volume, according to MBA. In fact, after totaling $1.25 trillion last year, MBA expects refinance volume to reach a total of $818 billion this year.
Sherman suggests efficiency is the key to survival in this market, and he says Movation can help.
""Movation drills down into a lender's data and applies analytics to forecast and monitor how employees are performing in line with corporate goals,"" Sherman said.