Minnesota Housing has implemented the Enterprise Lending Center (ELC) from Mortgage Cadence, an Accenture (NYSE: ACN) company, and is now committing loans on the loan-origination platform.
ELC facilitates lending in all mortgage channels — retail, wholesale and correspondent — across all mortgage products, including conventional forward mortgages as well as reverse mortgages, which can help older homeowners leverage the equity in their property to support retirement.
Mortgage Cadence helped Minnesota Housing — a state housing agency dedicated to reducing racial and ethnic disparity in homeownership — custom-configure the platform to provide the agency’s lending team with the most efficient workflow. Minnesota Housing is also taking advantage of Mortgage Cadence’s imaging functionality to quickly recognize, classify and store documents from borrowers and lending partners, ultimately increasing the speed of internal processes.
“We were looking for a new loan acquisition platform to support our continued growth,” said Kasey Kier, assistant commissioner of the Single Family Division at Minnesota Housing. “The Mortgage Cadence solution combines the best of both worlds, with an automated workflow to increase our team’s productivity and configuration flexibility to adapt to changing business needs, while still offering extensibility through APIs that let us connect with our business partners.”
Bryan Ireton, CEO and managing director of Mortgage Cadence, Accenture, said, “At Mortgage Cadence, we believe that profitable lending takes more than great technology. Our collaboration with Minnesota Housing exemplifies this, as we continue to work together to create an exceptional experience for borrowers and lending staff.”
About Mortgage Cadence
Since 1999, Mortgage Cadence, champions of the lending process, have been providing the best people, process and technology for enterprise and mid-market lenders who desire to deliver an exceptional borrower experience. From point-of-sale through post-closing Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way.
About Minnesota Housing
Minnesota Housing is the state’s housing finance agency. For more than 40 years, we’ve worked to provide access to safe, decent and affordable housing and to build stronger communities across the state. In 2018, we invested $1.26 billion and assisted more than 66,000 households.