GHR Systems, Inc., a Metavante company and one of the nation's leading providers of lending automation solutions, today announced that SunTrust Mortgage, Richmond, Va., has licensed GHR's comprehensive suite of mortgage lending products.
SunTrust Mortgage will use the technology in its retail loan office, call center, and consumer direct channels, as well as its wholesale and correspondent lending businesses.
The selection of GHR's lending automation technology is part of a major technology transformation project at SunTrust Mortgage to streamline the mortgage origination process and significantly improve the customer experience. Recently, SunTrust Mortgage ranked highest in overall customer satisfaction among national mortgage servicing companies in the J.D. Power and Associates Primary Mortgage Servicer Study, based on more than 9,200 responses from home mortgage customers across the United States.
"Prior to selecting GHR, we conducted an exhaustive review of technology vendors and did extensive due diligence around functionality, architecture and other key elements of the systems," said Sterling Edmunds, Jr., chief executive officer of SunTrust Mortgage.
"What impressed us most about GHR's technology was that it had been deployed and run in a stable, large-scale environment. It was crucial to have a system that had been volume and time-tested in the real world," said Edmunds. "It was very important for us to trust the selected vendor and be sure they could help us evolve and grow our business."
"SunTrust has a clear vision of where they are headed and is in synch with our vision of automation," said Allan Redstone, founder and president of GHR Systems. "SunTrust is committed to changing its internal processes to originate mortgages an order of magnitude faster than the rest of the industry."
Product selection
SunTrust will implement several of GHR's mortgage lending products including Wholesale/Correspondent Origination System, Agent Retail POS System, Enterprise Decision Engine with Automated Underwriting, and Enterprise Reporting System.
The Wholesale/Correspondent Origination System is a comprehensive, web-based mortgage origination tool specifically designed to streamline the loan origination and submission process for SunTrust and their third party originators and correspondent lenders.
Agent (POS) is the industry leading retail loan officer point-of-sale system that automates the mortgage sales process including contact management, pre-qualification and the entire loan application process. Agent boosts loan officer productivity and customer satisfaction by significantly shortening the loan origination process and matching customers with the loan products that fit best.
GHR's Enterprise Decision Engine and Automated Underwriting works across all channels delivering multi-product, real-time, risk adjusted eligibility, pricing and qualification. It enables SunTrust to operate one central repository of product eligibility, automated underwriting, pricing, fee, stipulation, and document requirements. The Enterprise Decision Engine serves all channels and improves broker, originator and consumer satisfaction and lead conversion rates by providing instant decisions at the point of sale. Because this system eliminates the need to maintain loan product information in multiple locations, SunTrust's operating costs are reduced.
The Enterprise Reporting System (ERS) extracts data from GHR and non-GHR systems to create dynamic instant reports with unlimited research capabilities and graphical analysis. An online analytical processing (OLAP) system, ERS can gather information from one or more source systems and provide virtually unlimited evaluation capabilities as a multi-dimensional data cube. ERS enables management, production and operational staff to obtain real time views of origination, processing and closing pipelines and related activities.
GHR's Workflow system enables SunTrust to achieve full automation by controlling all components of its mortgage process. By using Workflow, SunTrust significantly streamlines execution of repetitive tasks, such as tracking documentation, managing third-party services, automated underwriting/decisioning and document production.
The Workshop Development Toolkit enables SunTrust to customize or expand virtually any part of the Agent, Processor, or Closer core application modules. With Workshop, SunTrust can modify/add screens, workflow, data fields, interfaces, reports, forms, etc. to meet current or future needs-whether it is unique call center scripting screens, or additional cross marketing data elements.