MonCana Bank is Live with the LMS360 End-to-End Mortgage Lending Solution
Posted by Bill Rudzitis
MARKHAM, ON, March 20, 2012
Delta 360 Inc. is pleased to announce that MonCana Bank of Canada has launched its LMS360 end-to-end mortgage processing solution. In addition to LMS360’s Servicing, Retention, Accounts Payables, Municipal Tax Administration and Securitization capabilities, MonCana Bank is the first financial institution to use our new Origination module. The Origination module provides a multi-channel loan fulfillment solution that enables both centralized and decentralized underwriting and condition management for all loans, channels, products, services, customers and fulfillment partners. The origination platform has a two-way electronic feed from D+H’s Expert broker application system, providing instantaneous 2-way connectivity with mortgage brokers.
“We are proud to have MonCana Bank in production with our end-to-end lending suite”, says Derek Cook, President of Delta 360. “The LMS360 platform is more feature rich, fast and less expensive than other solutions in the marketplace. With the help of MonCana’s highly experienced staff, we have designed a system that can fulfill the need to efficiently underwrite, and service mortgages with minimal navigation, resulting in faster turnaround time. Our solution provides a lower cost of ownership than competing solutions in the marketplace due to our highly configurable platform and transactional based pricing model. In addition, our platform allows MonCana Bank to create new products and configure business rules with minimal vendor involvement. This allows MonCana to compete more effectively in the market while reducing ongoing support costs.”
About MonCana Bank of Canada
MonCana Bank of Canada (MonCana) is Canada’s newest Schedule I Bank. MonCana is 100% Canadian owned, and completely focused on servicing clients through broker relationships. Calgary, Alberta is home to MonCana’s head office, with an office now open in Toronto.
MonCana specializes in residential mortgages and deposit products which are originated across Canada through networks of select brokers.
LMS360 is a complete end-to-end mortgage platform comprised of multiple purpose built modules, which can be adopted independently or as an entire product suite. The LMS360 suite includes Underwriting, Funding (Advancing), Servicing, Customer Retention, Accounts Payables, Municipal Tax Administration, Securitization (Portfolio Management) and Business Intelligence capabilities. LMS360 supports various mortgage products including: prime and non-conforming mortgages, line of credit products and multi-component mortgages. The LMS360 platform provides a complete loan administration platform with configurable workflow and scoring capabilities, as well as, an integrated document management solution. The end-to-end product suite delivers streamlined processes and reduced overall operating costs.
About Delta 360 Inc.
Delta 360 Inc. is focused on delivering superior lending technology solutions to the Canadian financial industry. We are revolutionizing the lending technology space by combining workflow, scoring and document management technologies, with a robust and highly configurable loan-origination, underwriting and servicing and securitization platform. In addition to the implementation services that we provide for our solutions, we provide IT strategies, infrastructure implementation, custom development, and project management. Combining our financial industry knowledge, with our experience in successfully delivering advanced mission critical solutions, positions us well as a premier solutions partner for any financial institution. For more information about Delta 360 Inc., visit www.delta360.com
Delta 360 Inc.