Many of the mortgage industry’s leading professionals were on hand for the return of Mortgage Technology’s annual conference this week, and the beautiful Miami weather wasn’t the only thing that had attendees excited.
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Many of the new members of MT’s advisory board participated in a round table discussion Monday, a story which will appear in the upcoming December edition of the magazine. The group gave a year-in-review of 2011, making some bold predictions for 2012.
Blueberry Systems, the loan origination system provider and sister company to originator Cherry Creek Mortgage, announced the launch of new point of sale functionality to complement its existing Relay LOS. As CEO Wil Amstrong explained, Blueberry is continuing to add new functions and tools to its software to provide more options and competition in the LOS space.
LoanBeam, a new player in the mortgage technology space, was also on hand in Miami. The company’s background is in corporate accounting, and they’ve adapted their optical character recognition and calculation expertise to tackle the challenge of qualifying income analysis. Lenders who subscribe to the service upload tax documents to the LoanBeam system, and within minutes, the platform analyzes and indexes the data and generates an automated report that the company says is faster and more reliable than manual or template-driven processes that lenders use.
A memorable line from Michael Scott—the outlandish boss played by Steve Carrell on TV’s “The Office”—is that the trinkets conference exhibitors give out at their booths, commonly referred to as “SWAG,” is an acronym for “stuff we all get.”
Doc prep and compliance vendor DocMagic had some of the best conference swag—plush dolls of DocMagic’s cartoon rabbit mascot, dressed in a rock ‘n’ roll costume that resembles an outfit from the ‘70s band Kiss. (Yes, there were a few exhibitors who raffled off tablets at their booths, but that doesn’t count as swag, because we didn’t all get one. Congrats to those lucky winners.)
Attendees that stayed through the end of the show on Wednesday were treated to three cutting-edge sessions—a discussion on how to shop for an LOS, an introduction to the newest e-mortgage development called e-warehouse lending and a panel presentation on consumer-facing mobile mortgage technology.
Tuesday’s keynote speaker Rene Rodriguez was an especially big hit at the show, with a presentation about overcoming the obstacles of implementing new technology. Jeff Bell, of PHH Mortgage, opened the show on Monday with a great presentation as well.
Many of this year’s Mortgage Technology Awards, Top Service Providers and Top Tech-Savvy Lenders were also on hand, including the Steve Frasier Visionary Award winner Nancy Alley, 10X Award winner Aklero Risk Analytics, Online Originator Award winner Quicken Loans and Tech-Savvy Lender CMG Mortgage were among many current and former award winners.
The show wasn’t just about origination technology, either. Woodward Asset Capital, MERS, GCC Servicing Systems, DRI Management Systems, Wingspan Portfolio Advisors, as well many lender/servicer attendees had the servicing sector well represented.
And what would a mortgage tech conference be without an active rumor mill buzzing? There was a lot of activity and discussion on the vendor MA front, as well as lively debates on the future of mortgage lending, the GSEs and other juicy topics. Stayed tuned to MT for these developing stories and more.