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Special Reports
FHA Lending
FHA Firm's Founders Provide Technology
By Amilda Dymi
Motivity Solutions here has launched LenderBuilt, a venture the company calls
a "visionary" technology co-development initiative that offers midsize mortgage bankers the option to
update their existing mortgage tools, technology platform and overall business performance using modest resource
investments. "Lenders with a long-term vision realize that now is the time to step back and completely re-evaluate
their technology needs, then map out a strategic vision for the future," said Motivity Solutions chief executive
officer Tyler Sherman. "Innovative technology is available to help companies take a quantum leap towards becoming
more efficient, more nimble and ultimately more profitable," he said.
Motivity Solutions was launched by the founders of Watermark Financial Partners,
a $1.5 billion per year private mortgage banking firm and the seventh largest Federal Housing Administration lender
in the country when it was sold in 2004.
According to company executives, Motivity is building on the proven efficiency
of Watermark's proprietary technology platform and business process automation to provide customized platforms.
Motivity Solutions is focused on working directly with mortgage bankers to co-develop solutions that will boost
their productivity and return on investment using existing software resources.
Through LenderBuilt, the company started a nationwide search to identify leading
mortgage bankers interested in participating in the development of various Movation modules that ideally suit midsized
bankers with between 50 and 200 employees who originate 100 or more units monthly through multiple branches and
origination channels.
Participating lenders will assist Motivity Solutions in mapping core processes
and business objectives. "We are seeking leading mortgage bankers to co-develop Movation in an actual production
environment," said Motivity Solutions president and COO Todd Sherman. "Our success in developing a proprietary
end-to-end system for Watermark Financial Partners made it clear that there is no better laboratory for cutting
edge mortgage banking software than the real world of mortgage lending," he said.
While recognizing that upgrading technology and restructuring entire systems is
indispensable for lenders in the current market, "the challenge comes down to finding the money to make the
necessary shift," he said, and LenderBuilt accommodates a select group of mortgage bankers.
In exchange for helping shape the development of Movation, the LenderBuilt co-development
initiative offers participating bankers a customized solution at a very low cost. "Movation is being developed
in phases, with each module available as a standalone product," the company said, including modules for imaging,
CRM, products and pricing, and third party integration that allows users "to address critical technology gaps"
without having to replace their existing technology platform.
Movation consists of modules that can work individually or as part of the complete
end-to-end lending system.
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