Lender Toolkit Expands Mortgage Automation Technology
Lender Toolkit, recognized as a leader in mortgage automation technology, has recently augmented its offerings with a new suite of IT Services specifically designed for lenders utilizing ICE Mortgage Technology's Encompass® platform. This strategic move aims to address and eliminate the inefficiencies currently facing the mortgage industry.
Addressing Industry Challenges
In today’s fast-paced mortgage market, optimizing technology tools is not just a necessity but a critical strategic advantage. Joe Hamilton, Solutions Partner for IT Services at Lender Toolkit, highlights a significant concern: many lenders are currently overspending on outdated technologies and inefficient vendors. Hamilton explains, "The problem is that most lenders are overspending on outdated tools or underperforming vendors while firefighting daily issues." The addition of IT Services aims to clarify the complexities of technology use in mortgage workflows, providing measurable improvements and streamlining operations.
Closing the IT Gap in Mortgage Operations
One of the major challenges faced by lenders is the substantial financial burden of technology. Industry reports indicate that lenders are spending between $6,000 to $14,000 per employee annually on technology. However, many still grapple with frequent outages, confusion among vendor services, and diminished returns on investment. Consequently, Lender Toolkit's new IT Services are developed with the intent to diagnose and mitigate these issues by identifying what is working well, what is redundant, and what might be negatively impacting operational efficiency.
Key Features of the New IT Services
Lender Toolkit's IT Services includes several pivotal offerings aimed at redefining the technology landscape in mortgage operations:
- - IT Budget Audits: This service focuses on uncovering hidden expenses and realigning budget allocation to ensure maximum ROI.
- - Cybersecurity Services: Offering penetration testing to identify and remediate vulnerabilities before they can lead to serious breaches.
- - Fractional CIO/CISO Services: Providing strategic IT leadership without the need for full-time personnel.
- - Infrastructure Support: Tailored and secure IT environments specifically built for mortgage operations, ensuring scalability and safety.
- - Targeted Project Leadership: Effective management and execution of projects, from transitioning vendors to upgrading Loan Origination Systems (LOS).
- - Responsive Help Desk Support: High-value support grounded in a strong understanding of mortgage processes and challenges.
A Comprehensive Approach to Mortgage Efficiency
Lender Toolkit is not just developing a basic IT support structure; the firm is committed to transforming the entire operational framework for lenders. Brett Brumley, CEO of Lender Toolkit asserts, "Lenders told us they were tired of juggling disconnected vendors and solving the same problems over and over. With IT Services, we're not just solving Encompass challenges. We're diagnosing the root cause across the entire tech stack."
This holistic approach ensures that lenders are equipped with the right tools and support needed to navigate the complexities of the current mortgage landscape effectively.
Conclusion
With this launch, Lender Toolkit continues to solidify its position as a pioneer in mortgage automation. Focusing not only on technology provision but on a comprehensive suite of services, Lender Toolkit aims to revolutionize how lenders approach technology, paving the way for improved performance, reduced costs, and strategic alignment of their business objectives. By introducing these IT Services, the company is determined to be the one-stop partner every lender needs for efficient scaling in an ever-evolving industry landscape.
For more insights about their offerings, visit
Lender Toolkit's website.