LGE Community CU, O&S mitigate COVID-19 and other risks with Mortgage Cadence collaboration center
Team collaboartion platform built for the industry offers efficiency, security and lower health risk
KANSAS CITY, MO (July 16, 2020) — Mortgage Cadence, an Accenture (NYSE: ACN) company, has announced that LGE Community Credit Union (LGE), driven by the mission of “people helping people,” and O’Kelley & Sorohan, Attorneys at Law, LLC, (O&S) a full service law firm offering a wide variety of services including residential closing matters, are now using Mortgage Cadence Collaboration Center to conduct business in a manner that is completely free of email.
“With Collaboration Center, we are seeing efficiencies and cost savings but the greatest advantage we have received is the more streamlined experience we’re able to offer our members,” said Kyle Collier, Director of Mortgage Origination for LGE Community Credit Union. “Our investment in Collaboration Center has helped us move closer to the fully digital lending experience we want to offer our members. Our loan volume is at an all-time high and Mortgage Cadence does a great job of supporting our constant efforts to better serve our members.”
Collaboration Center is the team collaboration platform designed to mitigate fraud risk by eliminating email and giving mortgage lenders, title and settlement agents, real estate professionals and others working in the mortgage lending arena a secure environment in which to transact business remotely. The platform empowers teams to automate processes, deliver documents, exchange data, securely communicate and fosters real-time cross-company interaction—all from within each company’s transaction record.
For its part, O&S was open to adopting any tool that would allow the firm to better serve its customers.
“We have a very high degree of trust in our client,” said Cate Hoskins, Partner at O’Kelley & Sorohan. “Kyle’s team is very forward-thinking and we agreed that this tool would reduce transactional risk. We also knew that Mortgage Cadence was integrating with SoftPro, a tool we use for transaction management. While we have seen front end efficiencies, even greater benefits have come to us on the back end where Collaboration Center makes funding and disbursing closed loans much faster, easier and more secure.”
Much of the credit union’s mortgage volume is currently made up of refinance transactions, which gives the institution control over which title and closing partner to use for the transaction. This makes it easier to gauge the impacts of the new implementation on their respective businesses. Collier says LGE plans to use Collaboration Center to expand into new channels of business and push on toward the fully digital mortgage.
“This is how we hoped to see lenders and settlement services companies collaborating with our software,” said Peter A. Espinosa, Accenture Mortgage Cadence CEO. “Collaboration Center is the only solution that allows partners to use any production system technology they wish and collaborate safely and securely from that system. Today, when the world is still dealing with COVID-19, this technology has been a life saver for our clients. That gives us a very high sense of satisfaction.”
To learn more about Collaboration Center, click here.
About Mortgage Cadence
Mortgage Cadence delivers the industry’s most complete, modern, cloud-based digital lending platform designed to provide an exceptional user experience throughout the entire mortgage lending life cycle, across all channels and products. With a leading borrower point-of-sale through closing collaboration tools, the end-to-end platform is both complete and configurable offering an open-architecture designed to meet the needs of today’s lenders. The platform enables lenders to work more efficiently, leveraging automation and workflow tools that deliver an excellent borrower, sales and operational user experience. For more information visit www.mortgagecadence.com.
About LGE Community Credit Union
LGE Community Credit Union provides full-service, federally insured banking to over 117,000 people in northwest Georgia, with better rates and lower fees than you will typically find in a big bank. LGE serves all residents and businesses within Bartow, Cherokee, Cobb, Fulton, and Paulding counties. Since 2010, LGE has given back over $1.2 million to local nonprofit organizations and individuals in need through the LGE Community Outreach Foundation. For more information about LGE, visit LGEccu.org.
About O’Kelley & Sorohan, Attorneys at Law, LLC
O’Kelley & Sorohan (O&S) is a full-service law firm that focuses on residential real estate closings as well as commercial transactions, builder services, litigation, default services, eviction, estate planning and corporate relocations. The firm is based in Duluth, Georgia, and has expanded to 22 additional locations throughout the state. O&S also serves clients in its Florida office. For more information about the firm, visit it online at okelleyandsorohan.com.
