Greensburg, PA – December 1, 2020 – After years of struggling through the challenges of manual operations and incomplete data, Royal United Mortgage’s finance department has reported a significant decrease in the time to present meaningful analysis to their executives. Taking their previously paper-heavy processes electronic, the Indianapolis-based lender has employed the Loan Vision accounting software and is able to better scale amidst the continuously changing landscape of the industry.
“Not only are we processing double the number of units we were before with the same amount of staff, we’re also able to cut our accounting month-end processes by a day and a half,” acknowledged Nolan Pearson, CFO at Royal United Mortgage. “Our company is very strict with speed to make a decision; now the executives aren’t waiting for financial information that could determine an outcome.”
The new efficiencies have also brought a confidence in the numbers that the department didn’t always have before. “For the first time in company history, we can confidently say that the data in our accounting system matches the loan origination system,” expressed Pearson. “In addition, there are about five new metrics we’re able to track now because we have access to loan-level detail and the time to analyze them in-depth.”
“Nolan and his team were dedicated to streamlining their processes and transforming their department from the beginning of the project,” said Ben Saunders, Director of Deployment at Loan Vision. “They were meticulous in their training and because of this, have been able to adopt and explore the system in a way that has given their company deeper insight into their financial position.”
“We wanted to be doing well north of 600 units a month and I needed a software that was going to grow and develop with us,” revealed Pearson. “AMB appeared to be the easier off-the-shelf option, but it just didn’t seem robust and I didn’t feel it would take us as far as we wanted. Loan Vision, on the other hand, was more open-ended and had more possibilities for the future.”
To read more on the successes that Royal United Mortgage has experienced with Loan Vision, read the case study here.
About Royal United Mortgage:
Royal United Mortgage, LLC, headquartered in Indianapolis, Indiana, is a privately-held, employee-owned mortgage lender. In business since 2008, the company offers clients new home mortgage, refinancing, and home equity products. The business was founded with the mission to enrich the communities it serves. It does so by offering an informed choice, competitive pricing, and by training employees to advise clients toward the best mortgage solutions for both their short and long-term financial goals. Visit RoyalUnitedMortgage.com for more information.
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. For more information about Loan Vision, visit www.loan-vision.com.
