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Special Reports
Origination Technology Update
PushMX Promises to Provide Efficiency to Users
By Jennifer Harmon
SAN JOSE, CA--A new software suite known as PushMX has entered onto the mortgage
scene. In conjunction with Calyx Point, the software helps brokers and originators manage their business more efficiently,
according to Dean Haritos, chief executive officer of PushMX.
The company decided to introduce PushMX to this industry after it identified that
there was a real need for process improvement. As it was developing some custom software for a couple of the larger
brokerage firms, PushMX discovered that there were endemic challenges across the mortgage industry.
"While there were a few vendors of loan origination software that did a great
job of handling the forms-based processing needs of the industry, we identified a real need for workflow functionality
that was simply not available, said Mr. Haritos. "So instead of writing something specific just for one client,
we decided we could bring a lot of value to the entire industry by creating software that was flexible enough to
accommodate the needs of everyone."
The transition has been relatively smooth for the company to move from software
for manufactures to productivity solutions for mortgage companies. "We have a significant amount of expertise
in creating workflow process software for a number of industries. These are usually sophisticated processes that
incorporate a lot of repetitive tasks that must be managed and tracked across several departments," said Mr.
Haritos.
PushMX has decided to complement existing loan origination software rather than
competing with it. The big player, Calyx Software, is used by the vast majority of mortgage brokers.
Instead of reinventing the wheel, Mr. Haritos said PushMX is geared towards helping
mortgage brokers manage their back office and workflow.
"We're not arrogant enough to believe that we could be an upstart company
that could write software that would replicate the functionality of Calyx and do it better. It would be a bad business
decision for us to do that."
PushMX customers are able to keep doing what they have been doing with Calyx while
PushMX helps them deploy a business management system that actually helps run the brokerage company rather than
only processing loans.
Over the past year, PushMX has evolved into a suite of applications that enables
mortgage originators to optimize their bottom line, improve the minute-by-minute productivity of their origination
teams, increase profitability and deliver better customer satisfaction to generate a continuous stream of new customer
referrals.
"Our core module manages the communications within a mortgage brokerage firm,
streamlining the interaction to make sure that people get the information they need in a timely manner, without
delay, and making sure it's rich information they can actually use to accomplish the task that they are focused
on."
The second module, which is called Web/CRM, helps originators to communicate with
their customers over the Internet and allow them to amaze their clients with unexpectedly good service. This includes
an interface that helps secure those all-important relationships with Realtors as well, he said. "This industry
runs so much on referral business, it really does matter how well your customer service is perceived and executed,"
Mr. Haritos said.
The third software module, Business Optimization, allows people to understand
where the bottlenecks are in their business, to improve processing efficiency. This affects the bottom line in
terms of headcount, numbers of employees and lost time or lost revenue because of mistakes and misunderstandings.
It also allows them to mine their database of existing customers, so they can realize recurring revenue in refinance
opportunities.
PushMX provides a number of management reports. Often, this is the first time
a manager or owner of a company can actually see how their company is performing down to each individual employee's
work abilities, efficiency, accuracy and on-time performance. Because PushMX is a workflow visibility tool, it
provides visibility to the people in the trenches on the things that need to get done on each particular loan.
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