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.

About LMS360

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. announced today the launch of its Master Servicing solution. Our solution provides aggregators / MBS issuers with functionality for the cash management, reporting and auditing of information provided by mortgage servicers, and other third parties.

“We are excited to offer our Master Servicing solution to the marketplace”, said Derek Cook, President Delta 360 Inc. “We have had many requests from aggregators who are looking for a better way to streamline their processes and provide an audit-able solution for managing the loans they have purchased from lenders .”

For more information on MasterServicing.LMS360 click on the following link: www.delta360.com/lms360-master-servicing/

About Delta 360

Delta 360 is focused on delivering superior mortgage technology solutions to the Canadian financial industry. We are revolutionizing the mortgage servicing and underwriting technology space by combining workflow, scoring and document management technologies, with a robust and highly configurable loan servicing and underwriting 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

www.canadianmortgagetrends.com/canadian_mortgage_trends/2011/12/one-on-one-with-moncana-banks-james-clayton.html

MARKHAM, ON, July 20, 2011

Delta 360 Inc. is pleased to announce that MonCana Bank has selected Delta 360′s LMS360 lending suite as their end-to-end mortgage processing system.  In addition to LMS360’s Servicing, Retention, Accounts Payables, Municipal Tax Administration and Securitization capabilities, MonCana Bank will be the first bank to use our new Origination module.  Origination.LMS360 provides a multi-channel loan fulfillment solution that enables centralized underwriting and condition management for all loans, channels, products, services, customers and fulfillment partners.

“We are pleased to work with the Delta 360 team to implement their fully integrated mortgage system,” said Gerry Wagner, CFO of MonCana Bank of Canada.

“Delta 360 is proud to have MonCana Bank utilize our end-to-end lending suite”, says Derek Cook, president of Delta 360.  “MonCana Bank’s leadership team has successfully started, and operated, various financial institutions in the past, and we believe they will be even more successful through the efficiencies that our platform provides.”

About LMS360

LMS360 is a complete end-to-end mortgage platform comprised of multiple modules, which can be used independently or as an entire product suite. The LMS360 suite includes Underwriting, Funding (Advancing), Servicing, Retention, Accounts Payables, Municipal Tax Administration, Securitization and Business Intelligence capabilities.  LMS360 can support various mortgage products including, prime and non-conforming mortgages, line of credit and multi-component mortgages.  The LMS360 platform provides a complete load administration platform with configurable workflow and scoring capabilities, as well as, integrated document management resulting in streamlined processes and reduced costs.

About MonCana Bank of Canada

MonCana Bank of Canada is a newly incorporated Schedule I Bank. MonCana is focused on the origination, sale and servicing of single family mortgages across Canada. The Bank is dedicated to the brokerage industry, originating both mortgages and deposits through brokers. For more information on MonCana Bank of Canada, visit www.moncana.com.

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.

Download the full issue of Mortgage Technology magazine at:

Mortgage Technology Magazine: June 2011 Issue

It is free with registration.

Delta 360 Inc. announced today the launch of its new origination module as part of the LMS360 suite. The origination module, Origination.LMS360 expands existing capabilities to include the underwriting, and fulfillment, of mortgages and loans. The underwriting module provides a multi-channel loan fulfillment solution that enables centralized viewing and control of all loans, channels, products, services, personnel, customers and fulfillment partners. It offers one system for the production of all loans across the enterprise, including processing, conditions management, and underwriting.

The Underwriting module’s additional capabilities include:

• Workflow – Uses directed workflow and user configured tasks and business rules to guide the loan application through the decision and post decision processes

• Underwriting Review – Includes an overview of all key data including qualifying ratios (GDS, TDS, LTV) , credit reports, income, and assets and liabilities

• Conditions Management – Manage a standard set of pre and post funding conditions as well as create customized conditions unique to your organization. These conditions are automatically defaulted based on business rules.  As documents are uploaded, conditions are automatically marked as received. System facilitates the verification of each condition along with input of any notes

• Third-Party Services – Accessed through a Networked Community of major providers; these include third party origination platforms, credit reporting, and mortgage insurance

“We are excited to offer our origination module to the marketplace”, said Derek Cook, President Delta 360 Inc. “Lenders are looking for the option of a complete end-to-end lending solution, which we can now offer with the introduction of our origination module. In addition, we can also offer this module as a standalone solution for those lenders looking to streamline their current Underwriting processes.”

For more information on Origination.LMS360 click on the following link: www.delta360.com/lms360-origination/

About Delta 360

Delta 360 is focused on delivering superior mortgage technology solutions to the Canadian financial industry. We are revolutionizing the mortgage servicing and underwriting technology space by combining workflow, scoring and document management technologies, with a robust and highly configurable loan servicing and underwriting 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

The URL for our blog is: http://www.delta360.com/blog/

Can we predict when, and where, lightning will strike?

Understanding the characteristics of the customer, the property and the customer’s mortgage product at the time of their relationship ending with the mortgage provider, can predict a great deal about what is to be expected from the existing customer base in the coming months.

Are you able to identify the characteristics of your liquidated mortgage portfolio? Perhaps you know the following details about the customers who chose to end their relationship with your organization:

• Rate
• Repayment record
• Loan to value
• Customer credit score
• Mortgage balance
• Term
• Originator
• Chequing account provider
• Age
• Employment
• Tenure

All of these characteristics, and others, can help to identify those customers who pose the greatest risk of liquidating from your current mortgage portfolio. Identifying the customers, and understanding how the variations of the critical characteristics affect the liquidation rate of your mortgage portfolio, will help your organization successfully grow your portfolio year after year.

A non-exhaustive search of the current rate comparison tools shows that a large percentage are tied to specific brokers, or lenders.  This is not a problem, if the site is transparent regarding this relationship.  A couple of tools / sites that appear to be independent (this is by no means a complete list of sites) are the following:

http://www.ratesupermarket.ca/, https://www.kanetix.ca/ and http://www.ratehub.ca/

All of these sites give a wide range of products, and lenders.  One interesting feature that www.ratehub.ca mentions is a consumer auction site that is coming in the near future (Spring 2011).  It will be interesting to see how well this concept is received by the broker, and lender community.  It would seem that a rate auction site would tend to detract from the benefits that a professsional (IE. broker / lender salesforce) brings to the consumer.  However, for some consumers that are only driven by rate, this type of facility seems to be long overdue.