Paradigm Quest, Canada's leading mortgage outsourcing company, announced today their successful implementation of Filogix multi-lender solutions for their unique Business Process Outsourcing (BPO) business model.
Filogix (a subsidiary of Davis + Henderson) is a leading provider of credit solutions for the retail lending, small business, commercial lending, equipment finance, mortgage and real estate industries.
"Being the first organization in the Canadian mortgage industry with a pure BPO business model, came with unique mortgage processing hurdles we needed to overcome," said Chris Mariani, CIO, Paradigm Quest Inc. "Filogix understood our business and through continuous advancements to their lending offerings, the solution significantly increases our efficiencies and improves the overall underwriting experience."
Filogix mortgage lending solutions now have multi-lender capabilities, meaning Underwriters are able to log in once and process deals for multiple lenders; while only being able to view and edit the Lending institution's data they have been granted access. It is a highly secure solution that not only benefits the BPO model, but also large Lending institutions with consolidated underwriting centres, supporting several different mortgage businesses.
"We were excited to deliver these added efficiencies to Paradigm Quest, as we understood their pain points and wanted to improve their situation," said Lori Ker, EVP Lender Services, Filogix. "Our client's experience is our primary focus and we will continue to find ways to enrich our solutions and to meet the unique needs of all our clients."
Paradigm Quest has been using Filogix solutions since their inception in 2005.