Greensburg, PA – January 22, 2020 – Loan Vision, a leading provider of financial solutions to the mortgage industry, announced that 2019 saw over $23 billion per month being accounted for in their loan level G/L, an increase of $10 billion from 2018. Throughout 2019, which was a great year for the industry, they continued to support the remarkable growth of many of their existing customers, most notably United Wholesale Mortgage [UWM] who had a record breaking $107.7 billion in production.
“As our customers grow, and many at rapid speeds, we need to be sure that we are supporting them in every way possible,” said Martin Kerr, President of Loan Vision. “[UWM] is just one of many customers that experienced much higher levels of production in 2019 and it’s incumbent on us to make sure they have the ability to handle those volumes.”
In addition to their existing customers’ successes, Loan Vision experienced a 37.5% increase in the number of customers using their system in 2019. The 39 new lenders who will be moving to the Loan Vision system will see an additional $3.75 billion plus being processed through the system, with over 75% of that moving from the largest industry competitor. “To sign 39 new lenders in a calendar year is a great achievement and we are grateful to every single one for placing their faith in us,” said Carl Wooloff, Director of Sales & Marketing at Loan Vision. “People are moving because we continue to innovate over and above our competition, and that will continue into 2020 and beyond.”
Loan Vision further showed their commitment to streamlining back office processes by releasing three new pieces of functionality. In April, Loan Vision debuted the Lease Management module, which is compliant under the new ASC 842 standards. Later in the year saw the release of two other functionalities: The Close Manager and Advanced Budgeting & Forecasting [AB&F] module. The Close Manager was designed to optimize the month-end accounting close processes by giving users the ability to assign and manage tasks, reconcile accounts, and verify the completion of processes directly in their G/L tool. The AB&F has been designed to eliminate the need to forecast manually through complicated Excel spreadsheets.
“For the six years we’ve been on the system, Loan Vision has continued to show it’s unlimited capabilities,” said Joe DeDominicis, CFO at NRL Mortgage. “Through the automation with Loan Vision, we have expedited every process we have in accounting to the point where we’ve reduced the staff and reduced the time to complete our month-end accounting close.”
About Bestborn Business Solutions, Inc.:
Founded in 2006, Greensburg, PA-based Bestborn Business Solutions are the creators of Loan Vision, a mortgage industry specific financial management and accounting software. Combining the functionality of Microsoft Dynamics and Bestborn’s industry toolset and expertise, Loan Vision has quickly established itself as a platform trusted by some of the largest as well as the fastest growing mortgage lenders in the country. Their ever-growing list of functionality includes the ability to interface with any Loan Origination Software, loan-level accounting, commission calculations, a branch reporting portal, as well as lease accounting management.