Wyndham Capital Mortgage, a leading digital mortgage lender, has been appointed a 2021 ICE Mortgage Technology Innovation Award winner. Wyndham Capital was recognized for Operational Excellence based on the efficiency that the company built on its platform, which allowed the number of loans per full-time production employee (FTE) to almost double, as well as reduced customer closing costs by almost 25% last year. This is the second consecutive year Wyndham Capital was named winner of the Innovation Award.
ICE Mortgage Technology, a leading provider of cloud-based loan origination platform to the mortgage industry, recognized the most creative mortgage lending companies that are advancing in the development of customized solutions to drive efficiency to achieve their business objectives with results exceptional.
“We have a mission to improve our operational efficiency so that we can continue to increase our value, convenience and five-star service for borrowers and mortgage advisers,” said Jeff Douglas, CEO of Wyndham Capital Mortgage. “We knew that by leveraging Encompass from ICE Mortgage Technologies and other third-party APIs, we were able to automate millions of manual processes creating efficiency for our credit agents and faster and less expensive closings for our customers.”
The new process flow contributed to greater automation for team-to-team loan assignments and the borrower’s overall communications, including loan requirements, status and updates. As a result, Wyndham Capital – which increased its total borrowed dollars by 140% to $ 5.4 billion last year – produced 4.1 loans per FTE production for the first three quarters of 2020 compared to the average reported by Mortgage Banker Association of 2.5 in the same period. In addition, Wyndham Capital had a cost per loan 25% lower than the average MBA for the first three quarters.
“We are honored to recognize this year’s Innovation Award winners as some of the most resilient and persistent companies in the mortgage industry,” said Joe Tyrrell, president, ICE Mortgage Technology. “With the unforeseen circumstances that resulted from the pandemic, we are proud to see that these companies have used ICE Mortgage Technology’s automation technologies and data-based insights to drive them to success.”
About Wyndham Capital Mortgage
Wyndham Capital Mortgage is a Fintech mortgage lender and digital residential lender that offers homeowners competitive rates, lower total costs and no hidden fees. Founded and headquartered in Charlotte, N.C., Wyndham Capital uses advanced technology and professional guidance to offer the best value, convenience and service in the class. For more information visit www.wyndhamcapital.com.
Gene King, director of corporate communications and public relations
Phone (816) 588-5946
The e-mail: email@example.com