D+H experiences record growth in its mortgage lending client base
Rich product integrations, partnerships and compliance expertise drive success
TORONTO, CANADA (April 24, 2015) — DH Corporation (TSX: DH) (“D+H”), a leading provider of technology solutions to domestic and global financial institutions, today announced that it experienced record client growth in 2014 for its mortgage solutions. The company formed new relationships with more than 130 community banks and credit unions, of which 70 percent choose both MortgagebotPOS™ and MortgagebotLOS™ solutions from D+H. Growth also came from the company’s existing client base, with nearly 75 of its long-standing MortgagebotPOS clients adding the newer MortgagebotLOS solution in 2014 alone.
D+H’s momentum continues into 2015 and includes marquee client wins, significant product and integration announcements, expanded strategic partnerships and ground-breaking programs to help clients get ahead of TILA-RESPA and other compliance challenges:
— Client wins such as East Boston Savings Bank, Members 1st Federal Credit Union and Bridgeview Bank Group
— Mortgagebot® solution investments such as ongoing compliance and user interface updates, enhanced integration between MortgagebotPOS and MortgagebotLOS, and integration with partner solutions that add significant value for clients like CUNA Mutual Payment Protection Insurance and Optimal Blue
— A partnership agreement that extended the Independent Community Bankers of America (ICBA) designation of D+H as a Premier Value Provider under the ICBA SmartLenderSM Program
— Endorsements by the American Bankers Association (ABA), Western Independent Bankers (WIB), Independent Bankers Association of Texas (IBAT) and the Florida Bankers Association (FBA)
— Innovative compliance programs such as the Mortgage Reform School, a web-based program of on-demand webinars and downloadable articles to help banks and credit unions prepare for the upcoming changes to the integrated TILA-RESPA Final Rule
“We’re excited about our demonstrated growth in the mortgage solutions arena,” said Bill Neville, president, D+H USA. “I attribute this success to our unrelenting focus on helping small and mid-sized community banks and credit unions stay ahead in an increasingly complex and competitive lending environment.”
While real estate and construction markets have created an upward trend in borrower activity, and consumers feel more confident when it comes to applying for mortgages, challenges remain. For small to mid-sized institutions, it can be daunting to balance growing regulatory pressure, aggressive competition from alternative lenders and the demands of a tech-savvy customer and employee base.
“As a partner to our clients, we must do more than simply provide solutions that enhance the borrower experience and streamline the mortgage process from origination to closing,” said Neville. “We must leverage our compliance and business expertise to help clients navigate the regulatory landscape and stay ahead of the curve. We believe that this sets D+H apart, and will continue to make us a leader in lending in quarters to come.”
Lenders and industry experts agree. “As we all know, the future is a product of what we’re willing to invest in the present,” said David Lykken, Host of Lykken on Lending and advocate of D+H’s mortgage technology solutions. “Lenders are increasingly adopting this strategy by choosing the technology partners best positioned to help them move their businesses forward. By investing in the right measures early, bank and credit union executives are skillfully aligning their organizations to remain ahead of continued regulatory impact, competition and evolving consumer demands. With the growing portfolio of solutions D+H offers that addresses every type of lending – mortgage, consumer and commercial – as well as its depth of compliance knowledge, you can see why the company is a partner of choice for many lenders.”
D+H (TSX: DH) is a leading financial technology provider the world's financial institutions rely on every day to help them grow and succeed. Our lending, payments, enterprise and global transaction banking solutions are trusted by nearly 8,000 banks, specialty lenders, community banks, credit unions, governments and corporations. Headquartered in Toronto, Canada, D+H has more than 5,500 employees worldwide who are passionate about partnering with clients to create forward-thinking solutions that fit their needs. With annual revenues of more than $1 billion, D+H is recognized as one of the world's top FinTech companies on IDC Financial Insights FinTech Rankings and American Banker's FinTech Forward ranking. For more information, visit dh.com.