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John Adams Mortgage Selects Dynatek as KPO Vendor
Mortgage company outsources construction lending to mortgage solutions provider
Boston, MA, October 14, 2007 –Dynatek, Inc., an ISGN company and an established leader in mid-tier mortgage automation solutions, today announced that John Adams Mortgage Company, a Southfield, Michigan-based lender, has selected Dynatek as the knowledge process outsourcing (KPO) vendor for its new construction lending operation.
A Dynatek customer since 2003, John Adams recently engaged Dynatek’s onDemand Construction Lending Services to help the company ramp-up for entry into the construction lending market. In addition to providing loan officer training, product development and marketing plan design, Dynatek will also facilitate all back-end processes, including closing and draw administration.
“When we began exploring ways to gain entry into the construction market, Dynatek’s onDemand Construction Lending Services just made sense,” said Marc Reneau, vice president of John Adams Mortgage Company. “Their expertise allows John Adams to enter the market quickly and economically while maintaining profitability and competitiveness. We have an existing relationship and trust level with Dynatek, so we knew what to expect in terms of quality and service. With the integration of onDemand, Dynatek has hit the mark again.”
John Adams’ loan officers will use Dynatek’s residential lending software, MORvision, to originate all construction loans in-house. Dynatek’s Construction Lending Services Group (CLS) will then facilitate all back-office processes for John Adams’ construction lending division, working closely with the company to underwrite the loans. Service Level Agreements are in place to ensure that all parties have the same expectations and that a high level of service is maintained.
Dynatek’s onDemand Construction Lending Services enable John Adams to quickly and easily enter the construction lending market without the risks and overhead typically associated with starting up a new division. The company also benefits from a variable cost model that allows John Adams to adjust its output level as volumes fluctuate, so there are no unnecessary costs or strain on existing staff.
“Dynatek is very excited to extend its partnership with John Adams as they venture into construction lending,” said Todd Luhtanen, president and CTO of Dynatek. “Our goal is to make outsourcing accessible to the mid-tier and help level the playing field with the mega-lenders. This is a prime example of how Dynatek’s onDemand Services can help mid-sized lenders expand their reach without stretching their resources.”
Dynatek officially launched onDemand Services on July 29, 2007, making Dynatek the first company to offer affordable, scalable outsourcing options to the mid-tier lending community. onDemand Services bring a broad range of end-to-end benefits to mid-tier lenders, including cost savings, efficiencies, and a full range of product offerings. Mid-tier lenders now have the same opportunities as mega-lenders, without the obligation of building a dedicated staff or the burden of competitive pressure to grow. onDemand Services are Dynatek’s KPO offerings that leverage the combined power of the entire ISGN organization.
About Dynatek
Founded in 1986 and headquartered in Livonia, Mich., Dynatek has been a leader in mid-market mortgage automation solutions for retail and wholesale lenders for 2 decades. Dynatek’s MORvision is a flexible solution that automates everything from point-of-sale and web origination through processing, underwriting, closing, secondary tracking and delivery. Dynatek is attributed with a long list of industry innovations including their award-winning Plug-In Partner Network, which seamlessly connects MORvision users to industry partners with just one click; and their unique Control Center, which offers capabilities for eMortgage, business process management, and multi-client support.
In 2007 Dynatek was acquired by ISGN who is assembling the best industry technology, solutions, and services into a single source provider for mortgage lenders. This group provides the mortgage industry with seamless access to a broad array of end-to-end mortgage products and services. For more information on ISGN, log on to www.isgn.com. For more information on Dynatek or to learn more about the benefits of MORvision, call 800.462.5545 or log on to www.dynatek.com.
About ISGN
ISGN Technologies Ltd., is a leading global mortgage solutions company positioned to transform the mortgage lending space by providing an end-to-end spectrum of mortgage solutions, advisory services and outsourcing solutions. With a customer base of more than 400 lenders across the United States, ISGN provides complete technology solutions, services and platform-based knowledge process offerings (KPO) through its subsidiaries MortgageHub and Dynatek. ISGN is backed by strong investors including the K.K. Birla Group, one of India’s leading conglomerates, and venture capital firms New Enterprise Associates (NEA) and NEA-IndoUS (NEA-IUV). For more information, visit www.isgn.com. |
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