29Jul

Constellation Mortgage Solutions Appoints Technology Innovator Kendrew Peacey as CTO

July 29, 2022 California MBA

Constellation Mortgage Solutions (CMS), provider of enterprise mortgage loan origination and servicing technology, recently appointed Tech Industry Veteran Kendrew Peacey as CTO. As a member of the executive team, Peacey will lead CMS in evolving and innovating lending technology to grow the product line and increase sales. Peacey and team will deliver the next generation of LOS in late 2022, equipping CMS clients with enhanced functionality and a single application suite that will elevate job performance and user experience.

“Kendrew was originally engaged as a consultant and proved himself an invaluable member of the team, with his global experience in implementing, and evolving enterprise technology, he is a great fit for CMS,” said Stephen Ryczek, CMS President and General Manager. “We’re excited to have him lead the team as we deliver the next generation of lending technology to the mortgage industry.”

Peacey brings with him over 30 years of experience developing, integrating, and implementing technology tools and software for various enterprise level companies. He has a proven record orchestrating IT and software engineering operations while managing global teams across multi-million-dollar projects. Peacey founded Ascension Technologies, a global software development company and leader of digital transformation, and previously served as CTO of U2 Logic, The Media Services Group, and in consultant roles at various companies including IBM.

“I’m excited to join Constellation Mortgage Solutions as CTO and help fill technology gaps the mortgage industry experiences today,” said Peacey. “Bringing a product to market that has not yet been seen, and doing it successfully, is fulfilling. New technology not only adds to the growth of CMS but also the lenders we support by providing a single point of entry and complete functionality for them to efficiently perform their job.”

Peacey’s contributions to CMS will continue to drive the unprecedented growth the company has experienced in the last two years.

About Constellation Mortgage Solutions
Constellation Mortgage Solutions provides industry-leading lending technology solutions through its products: Mortgage Builder LOS, Mortgage Builder LSS, and ReverseVision LOS. As the Gold Standard for mortgage solutions, CMS offers Lenders of all sizes enterprise technology empowering Lenders on the front lines with innovative solutions designed to deliver exceptional loan quality, regulatory compliance, and drive profitability. CMS has been working for more than two decades to help mortgage professionals streamline operations and close more loans faster to increase ROI. https://constellationmortgagesolutions.com/

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19May

Constellation Mortgage Solutions and Entrinsik Announce Partnership to Drive Data Insights

May 19, 2022 California MBA

The partnership between Constellation Mortgage Solutions and Entrinsik enables CMS users to maximize the value of their data through visualizations and self-service analytics.

Constellation Mortgage Solutions (CMS), provider of enterprise mortgage loan origination and servicing software systems, today announced a new partnership with Entrinsik, a leader in embedded business intelligence. This partnership will utilize the Informer Embedded platform, enabling CMS users to maximize the value of their data through visualizations and self-service analytics.

From origination to post-closing to servicing, CMS provides all the tools and integrations lenders need to keep operations streamlined. Every step in the mortgage process generates data, which can be analyzed and interpreted to provide users with the insights necessary to make better business decisions.

“Constellation Mortgage Solutions strives to help our clients become more efficient, productive, and collaborative through our technology,” said Stephen Ryczek, President and General Manager at CMS. “Our partnership with Entrinsik provides our clients with metrics that far exceed the reporting available in a traditional LOS or Loan Servicing platform. By using the Informer solution, clients will leverage dynamic reporting insights from our solutions alongside data that can be aggregated from other technologies to provide real-time meaningful insights to their entire business operations.”

CMS customers will better manage and measure their performance in real-time using Entrinsik Informer through the CMS enterprise LOS platform. Easy adoption of the technology and user-friendly and visually pleasing reporting relevant to all levels of an organization further enhances productivity and communication throughout the loan origination process.

“We’re excited to partner with Constellation Mortgage to bring advanced analytics to their lender platform,” said Chris Reeves, Vice President of Partnerships at Entrinsik. “The collaboration unlocks the power of data to further extend Constellation Mortgage Solutions’ promise to help lenders drive efficiency, close more loans faster, and reduce costly errors that can lead to problems with compliance.”

About Constellation Mortgage Solutions Inc.
Constellation Mortgage Solutions provides industry-leading lending technology solutions through its products: Mortgage Builder LOS, Mortgage Builder LSS, and ReverseVision LOS. As the Gold Standard for mortgage solutions, CMS offers Lenders of all sizes enterprise technology empowering Lenders on the front lines with innovative solutions designed to deliver exceptional loan quality, regulatory compliance, and drive profitability. CMS has been working for more than two decades to help mortgage professionals streamline operations and close more loans faster to increase ROI. https://constellationmortgagesolutions.com/

About Entrinsik
Entrinsik develops, implements, and supports software solutions that enable organizations to maximize performance and improve bottom lines. For six consecutive years, Entrinsik has been selected as a member of the DBTA 100, highlighting the 100 Companies that Matter Most in Data. Entrinsik Informer is an innovative, award-winning agile reporting and business intelligence solution used by tens of thousands around the world. Over 3000 organizations around the world use Entrinsik’s software every day. For a demonstration or a free trial, call 888-703-0016 or email sales@entrinsik.com. Visit https://entrinsik.com/.

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09Jun

Top 10 Servicing QC Findings in a Turbulent Year

June 9, 2021 California MBA

From the unforeseen effects of the pandemic to an 11-year-mortgage volume high, the past year has been ground-shifting for mortgage servicers.

Servicers faced several challenges, with the impact of the CARES Act being among the most notable. After all, it resulted in forbearance plans that millions of homeowners took advantage of.

In fact, according to the MBA’s May 18, 2020 press release, loans in forbearance made up 8.16% of servicers’ portfolio volume, with 4.1 million homeowners in forbearance plans. Black Knight’s data shows that this number decreased significantly by the end of December, dropping to nearly 3 million homeowners, or about 5.3% of all active mortgages. The MBA’s National Delinquency Survey data shows the 2020 seasonally adjusted delinquency rate dropped from 8.22% in the second quarter to 6.73% in the fourth quarter.

But despite the rapidly changing mortgage servicing landscape this last year, servicers continued to struggle with the same quality control challenges that have plagued them in years past, a MetaSource analysis of servicing QC findings shows.

Among the 10 most common findings from among thousands of servicing QC audits the MetaSource team conducted over the past year were many that reflect an ongoing struggle with missing documents as well as oversights likely exacerbated by a year of unprecedented pressures. Here’s a look at the findings list along with insights into why they occurred – and how to avoid them in 2021.