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Omega Financial Services Signs With LendingQB to Use Its one Cloud-Based LOS

Omega Financial Services Signs With LendingQB to Use Its one Cloud-Based LOS

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Published by Christopher Simmons
COSTA MESA, Calif., May 23, 2012 (SEND2PRESS NEWSWIRE) -- LendingQB, a provider of seamless mortgage lending technology, announced that Omega Financial Services, Inc., a retail and wholesale mortgage banker, has implemented its comprehensive Web-based loan origination system (LOS) to automate each of its business channels. LendingQB's platform will reduce Omega's cost per loan, maximize productivity across operations and decrease its existing technology costs.
COSTA MESA, Calif., May 23, 2012 (SEND2PRESS NEWSWIRE) -- LendingQB, a provider of seamless mortgage lending technology, announced that Omega Financial Services, Inc., a retail and wholesale mortgage banker, has implemented its comprehensive Web-based loan origination system (LOS) to automate each of its business channels. LendingQB's platform will reduce Omega's cost per loan, maximize productivity across operations and decrease its existing technology costs.

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Published by: Christopher Simmons on May 24, 2012
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From Send2Press®NewswirePrint Friendly Version
Banking and Finance NewsPRESS RELEASE:
Omega Financial Services Signs with LendingQB to Use its All-In-One, Cloud-Based LOS
Wed, 23 May 2012, 06:58:16 EDT
COSTA MESA, Calif., May 23, 2012 (SEND2PRESS NEWSWIRE) --LendingQB, a provider of seamless mortgage lending technology, announcedthat Omega Financial Services, Inc., a retail and wholesale mortgage banker,has implemented its comprehensive Web-based loan origination system (LOS)to automate each of its business channels. LendingQB's platform will reduceOmega's cost per loan, maximize productivity across operations and decreaseits existing technology costs.Acting as an advisor to Omega, Joe Cilento, CPA, CMB, a mortgage industryveteran and consultant, guided the selection and implementation of LendingQB's LOS platform after performing a company-wide review of operations."I have conducted numerous mortgage technology evaluations andimplementations; the rollout of LendingQB's Web-based platform was onesmoothest I've been involved with," said Cilento. "The extensive level ofsupport that LendingQB provided and their ability to easily configure tailored workflows are the main reasons Omega'simplementation was so successful."LendingQB's LOS seamlessly integrates Omega's entire workflow and lending functions to enable the straight throughprocessing (STP) of loans. From the point-of-sale (POS) through closing and funding, LendingQB consolidates all of Omega'slending activities onto a single platform that creates a true end-to-end experience. Regardless of employees' roles, LendingQBcontains Omega's users to a single database and software environment to ensure the same data is being used in differentdepartments. The result is fewer manual touch points, which turns Omega's lending practices into a profit optimizationworkflow."We were previously using a well-known LOS that has been trying to assemble an end-to-end solution, but we found thesystem inadequate to handle our needs from soup-to-nuts so we began looking for a solution that could," said Armando Morell,information systems director at Omega Financial Services, Inc. "We retained mortgage consultant Joe Cilento to help usperform the evaluation process and concluded that most LOSs try to achieve an end-to-end solution by way of integrating withmultiple best-of-breed vendors because they are lacking key functionality in a number of different areas. Of all the solutions welooked at, there wasn't an all-in-one Web-based LOS on the market that could seamlessly automate every single area of thelending process like LendingQB is able to."Once Omega's LOs and brokers run product and pricing scenarios in LendingQB's retail or broker portal, they can pull creditand the automated underwriting system (AUS) returns an instant, accurate decision that analyzes investors' entire underwritingmanuals, which carries the same weight as a human underwriter's decision. The loan then seamlessly moves throughOmega's workflow with minimal human intervention. Omega says the efficiencies gained using LendingQB's end-to-end LOSwill optimize employee performance, reduce their cost per loan and also attract top tier sales talent. In addition, Omega's LOs,brokers and AEs can use LendingQB's mobile application for smart phones, which allows them to check rates, return producteligibility and pricing, and manage their pipeline from the field."Paramount to running an efficient lending operation is the seamless connection of every workflow the lender uses to eliminateunnecessary human interaction and thus improve productivity," said Binh Dang, president of LendingQB. "The only way toachieve this is to implement an all-in-one platform that uses a single database and is discriminating with outside integrations,as too many interfaces and separate databases creates data integrity issues and hampers efficiency and accuracy."
Page 1of 3PRESS RELEASE: Omega Financial Services Signs with LendingQB to Use its All-In-O...5/23/2012http://send2press.com/newswire/print/news_2012-05-0523-002.shtml
 
LendingQB's platform is comprised of LO, broker, and consumer direct point-of-sale Web portals for all lending channels;product and pricing engine; proprietary AUS; loan processing; electronic documents, closing; secondary marketing; andinterim servicing. LendingQB also accompanies business intelligence (BI) and data analytics functionality along with detailedreporting that helps lenders locate and translate their data into actionable information, enabling them to make informedbusiness decisions that establishes a competitive advantage and leads to greater profitability.
About LendingQB:
LendingQB is a Costa Mesa, California-based company that specializes in loan origination technology solutions and servicesfor the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan originationplatform. The solution is designed to meet the needs of all types of mortgage lenders-large or small, wholesale or retail,correspondent or Internet-based-with specialized tools that are targeted, customizable and flexible. LendingQB uses aconsultative technology assessment approach before engaging with new clients, and places a strong emphasis on theutilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizationalperformance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visithttp://www.lendingqb.com.
About Omega Financial Services, Inc.:
Omega Financial Services, Inc. is a full service, Non-Supervised, Multi-State Direct Residential and Commercial Lender andWholesaler. With over 25 years of experience, Omega's goal has been to assist clients in owning a home, acquiring abusiness, or an investment property by offering a wide array of loan programs and giving attention to detail. The company isdedicated to connecting every client's dream of homeownership with the required financial assistance. Omega's various loanprograms allow it to cater to individual needs while providing outstanding service. Omega became the ideal lender through theuse of strong customer relationship management and principles rooted in an ethical foundation. For more information aboutOmega Financial Services, Inc. please call 908-933-0253 or visit http://www.fhaomega.com.
About Joe Cilento, CPA and CMB:
Cilento Mortgage Advisory Corp. assists mortgage lenders looking to enhance product development, improve operationscapabilities, implement IT and LOS systems, and improve secondary market execution. The firm provides assistance withregulatory compliance and QC practices and also represents both buyers and sellers interested in joint ventures and merger &acquisition financing.Cilento has over 25 years of experience successfully assisting companies looking to access the securities markets throughdirect issuances of GNMA/FNMA MBS securities. Client companies may require assistance with obtaining GNMA/FNMAapproval. Services continue after agency authority is obtained and may include assistance with developing the in-houseresources required to pool and issue MBS securities and become a GNMA/FNMA direct seller/servicer. For more informationabout Cilento Mortgage Advisory Corp., please call 203-797-8733 or visit http://www.joecilento.com.
Media Contacts:
Joe BowerbankProfundity Communications, Inc.949-378-9685 jbowerbank@profunditymarketing.comArmando MorellOmega Financial Services, Inc.908-933-0253, ext. 301info@omegaloans.netNEWS SOURCE:LendingQB
Send2Press® is the originating wire service for this story.
PRESS RELEASE PERMALINK:http://www.send2press.com/newswire/2012-05-0523-002.shtmlFor more information about this news release, contact LendingQB directly through their Web site found in the above press release, and NOT
 
Page 2of 3PRESS RELEASE: Omega Financial Services Signs with LendingQB to Use its All-In-O...5/23/2012http://send2press.com/newswire/print/news_2012-05-0523-002.shtml

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