Unlock the secret to effortless mortgage processing! Watch as we dive into MCP Essentials, Mortgage Cadence's streamlined solution that's transforming the lending landscape.
Discover how this pre-configured platform offers enterprise-level power with self-service customization. See how the UI Designer tool simplifies administrative tasks, allowing you to tailor your system without needing IT support. Learn how to easily track unique product requirements and adapt to industry changes.
Explore the all-in-one platform that integrates point-of-sale, loan origination, and more, reducing complexity and lowering costs. See firsthand how MCP Essentials can help you scale efficiently and maintain compliance in today's competitive market!
#MortgageTech #LoanOrigination #MCPessentials #DigitalMortgage
Discover how this pre-configured platform offers enterprise-level power with self-service customization. See how the UI Designer tool simplifies administrative tasks, allowing you to tailor your system without needing IT support. Learn how to easily track unique product requirements and adapt to industry changes.
Explore the all-in-one platform that integrates point-of-sale, loan origination, and more, reducing complexity and lowering costs. See firsthand how MCP Essentials can help you scale efficiently and maintain compliance in today's competitive market!
#MortgageTech #LoanOrigination #MCPessentials #DigitalMortgage
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TechTranscript
00:00I'm Allison LaForgia, Managing Editor of HousingWire's Content Studio.
00:09Today, we're going through a demo of MCP Essentials with Jeffrey.
00:13The Mortgage Cadence Platform, MCP, offers a comprehensive digital mortgage solution
00:19that streamlines operations, boosts efficiency, and supports lenders of all sizes.
00:24Whether you need a ready-to-use self-service solution, MCP Essentials, or a customizable
00:31enterprise-grade solution, MCP Enterprise, Mortgage Cadence has your right fit.
00:37MCP provides advanced automation, analytics, seamless integrations, and digital closing
00:44capabilities designed to make the lending process smoother, faster, and more efficient.
00:50Jeffrey, take us through the demo.
00:51Hello, my name is Jeffrey Vogel, and I'm a product manager here at Mortgage Cadence.
00:56I'm happy to be here today to share with you how Mortgage Cadence is transforming the mortgage
01:00industry with cutting-edge technology and powerful loan origination solutions.
01:05At Mortgage Cadence, we focus on building the best loan origination system to meet the evolving
01:09needs of the mortgage industry.
01:11The Mortgage Cadence Platform, or MCP, offers two modern solutions.
01:15The first is MCP Enterprise, which is our fully customizable large enterprise solution.
01:21MCP Essentials is our newest offering.
01:24Essentials is a pre-configured solution designed for self-service and streamlined operations with
01:29reduced administrative costs.
01:32One key benefit of Essentials is that it retains enterprise-level configurability options on
01:36top of its pre-configured workflow and automation.
01:39MCP Essentials is the offering I'll be showing you today.
01:42MCP Essentials brings enterprise-level power to your business in a simplified pre-packaged solution.
01:48With self-service customization that leverages intelligent frameworks, you can scale efficiently
01:53and ensure maintainability while adapting to changes in your business and in the industry.
01:58Additionally, MCP Essentials simplifies your tech stack with an all-in-one platform that
02:03integrates the point-of-sale system, loan origination system, product and pricing engine, document
02:09classification, preparation, and extraction, and third-party integrated services such as Power BI
02:14for reporting capabilities.
02:15Our comprehensive end-to-end solution not only reduces complexity in disparate systems, but
02:21also simplifies vendor management and in turn lowers your cost of ownership.
02:26Lastly, MCP Essentials is designed with scalability and compliance in mind, so you can evolve your
02:31business while meeting the highest security and regulatory compliance standards.
02:35I'm excited to give you a taste today of how MCP Essentials can help streamline your operations
02:40and drive growth in today's competitive market.
02:42With that, let's get right into the demo.
02:45All right.
02:45So our demo will be focusing on one of the simplified administrative aspects of MCP Essentials, which
02:51is our UI Designer tool.
02:52UI Designer is a tool for creating or modifying pages that are presented to a lender's users
02:57inside of the loan origination system.
03:00UI Designer is what we call a WYSIWYG editor.
03:03What you see is what you get.
03:05It's an easy-to-use tool that allows a user with basic administrative access to create
03:10additional pages for data entry, dashboard review, and service orders.
03:14It's intended to be used by those with business knowledge, not technical knowledge.
03:18There's no programming needed.
03:20Like other administrative tools in MCP Essentials, it does not require IT support or a full admin
03:25team.
03:26It's the same tool used by mortgage cadence teams to build all of our pages, so you know
03:30we'll continue to support and enhance the tool.
03:32So let's set out a scenario for us to solve with the UI Designer.
03:37Let's say I have a unique product that my company originates.
03:40It's a jumbo product and under certain circumstances requires a second appraisal, either because the
03:45loan amount is over $2 million or it has been flagged as a higher-priced mortgage loan or
03:49HPML.
03:50My company wants a simple page to track the second appraisal requirement and the completion
03:54of the appraisal.
03:56So there's three ways I can solve for this with UI Designer.
03:58One would be to create a net new page completely from scratch.
04:02The second way would be to copy an existing page, which would then make a custom page that
04:07I've got to maintain forever.
04:09While both are good ways, we've got a better way.
04:12MCP allows lenders to modify an additional information panel that's embedded within core
04:18MCP pages.
04:18These panels are custom to each lender and allows you to add fields to a core MCP page
04:24without needing to make a copy of it.
04:26This means that Mortgage Cadence will continue to maintain and update that page, and updates
04:31that we provide won't wipe out your additions to that page.
04:34It's great for when the MCP page has most of what you need, but you want to add an extra
04:38few fields.
04:39So for today, we'll add our extra data points to the MCP page, appraisal information.
04:44So here I've got my additional information page, and it's currently a blank slate ready
04:48for my additions.
04:50So I'll start off by using the multi-field selector to add my first few fields.
04:56So let's go ahead and add the base loan amount so I can tell whether or not I've got a $2 million
05:01loan, and let's also add the higher price indicator.
05:10That way I can tell whether or not I've got an HPML loan.
05:17And then we'll go ahead and add the second appraisal required field as well.
05:26All right, let's add those to the page.
05:28You'll notice that the added fields will snap to the grid automatically.
05:32There's a specific four-column paradigm here.
05:34This is to support responsive design on a number of devices.
05:38You won't need to worry about formatting for different screen sizes.
05:42For example, this page will automatically reformat into two columns for a loan officer,
05:47say, working on an iPad at a marketing event.
05:50All right, so I've decided I want to make a few changes.
05:52I want to make this higher price indicator a checkbox rather than some radio buttons.
05:57So I'll just simply highlight this, click delete on my keyboard, remove that, and then
06:02I can put a checkbox field onto this page.
06:05We'll go ahead and set that up as the higher price indicator again.
06:09All right, and then for my second appraisal required field, let's change the radio buttons
06:25to horizontal just for a little bit better readability.
06:27And then my organization calls these additional appraisal required instead of second appraisal
06:34required.
06:34So let's go ahead and just simply change the field label.
06:44All right, now let's add a button to add some automation.
06:48MCP Essentials has a data validation solution called Check, C-H-E-Q, and I want to help my
06:53processors validate data before submitting the loan over to the underwriter for review.
06:57So we'll go ahead and add a button here, and we'll grab the Raise Event button, and we'll set
07:10this with one of our check automations, Pre-Check Submit to Underwriting.
07:17All right, and let's also set up security access so the processors and the processor managers
07:22can use this button.
07:27All right, next I think I'm going to need an explanation field.
07:30I don't have a field in the core MCP dataset that matches exactly what I want, and I don't
07:35just want this info in loan notes.
07:38Fortunately, MCP Essentials solves this for me.
07:40We have what we call reserve fields, which are partially configured generic fields that can
07:45be used for any unique purpose, and we have 1,500 of these fields.
07:49They're reportable in Power BI.
07:51They don't impact performance, even if you use a lot of them on a page, and if you decide
07:55to use them with personally identifiable information, or PII, you can also set up these fields with
08:00a higher level of security.
08:02So we'll add a text box onto the page here, and we'll use one of these reserve fields.
08:15We'll select this reserved text 2.
08:20Now, obviously, reserved text 2 isn't a very good name.
08:23Let's relabel this with something that's a little bit more useful.
08:26Second appraisal explanation.
08:34All right, and then let's also add some helper texts that provide a little bit more detail as
08:39to what I want my end users to enter in here.
08:42So I'll just pop some text, and you see it shows up kind of as a tooltip underneath here.
08:51All right, let's change the width of this field so that it's a little bit bigger.
08:55This is probably not enough space for my users to enter enough data in so that I can completely
08:59see it.
08:59So I can change the size of the field here.
09:01I can change this to as many columns as I want.
09:05I think two columns is probably big enough for this field.
09:08All right, now I have some internal procedures that my company uses.
09:12These are stored on our internal website, and I want to link directly to those from MCP.
09:18That way, my users don't have to navigate out of the system.
09:22So let's go ahead and drop a hyperlink on here.
09:25We can call these internal appraisal procedures.
09:27And then simply type the URL down here.
09:40All right, let's add one more field to this panel.
09:44Let's add a page link to a more detailed page with additional property information.
09:48I can add this page as pop-up.
09:50So we'll go ahead and add that here.
09:53We'll bind this to one of our existing MCP core pages that I really like.
09:57Property and information.
10:02Property and appraisal information.
10:04All right.
10:05So now I've got a good amount of data points here.
10:07I think I do want one more panel, though, so I can track important appraisal dates.
10:12So we'll go ahead and add an additional panel.
10:17And we'll call this one appraisal dates.
10:25All right.
10:26So let's go ahead and add a date to this.
10:29And let's add the second appraisal order date so I can tell when that appraisal has been ordered.
10:35All right.
10:35All right.
10:42As you can see here, I'm only receiving date type fields when I type in second appraisal.
10:50The system knows that I selected a date field and is only giving me those dates, so I don't accidentally put a checkbox type data point into a date field.
10:57It's got that intelligent framework that's keeping me within the context of the system.
11:03All right.
11:03Second order appraisal date is added here.
11:06Now, I know I want three more dates.
11:08So let's go ahead and create those quickly.
11:10Again, I've got keyboard shortcuts here, so I can go ahead and press Control-C for that date field, select inside the panel, and add three more dates really quickly.
11:19All right.
11:20Now all I have to do is select the data points that I want them to be linked to.
11:26So let's go ahead and add the receive date.
11:30And over here, we'll add the report date.
11:34For the last field, I'm going to add the estimated closing date.
11:43That way we know what dates we're tracking to, so I know I have to get this appraisal back.
11:53All right.
11:53Let's go ahead and save this.
11:56I get some auditing information.
12:01That way I can track that.
12:03And now that the page is saved, I can go ahead and switch to MCP and show you the final page.
12:11All right.
12:12We'll jump into my loan here.
12:13And as you see, I've got the appraisal information favorited over here.
12:16If I scroll down to the bottom, you can see the panels that I just added.
12:22Here's my baseline amount, higher price indicator, additional appraisal required, radio buttons.
12:26Everything that I just added is already there.
12:28So hopefully this highlighted how easy it is to configure page additions in MCP.
12:33Now we've got a few minutes for questions, if there are any.
12:38Jeffrey, thank you for taking us through that demo.
12:40Let's jump right into some of the questions.
12:42You mentioned that MCP Essentials was recently released to the market.
12:49Can you explain the difference between the two offerings, MCP Enterprise and MCP Essentials, which you are showing here today?
12:56Yeah, absolutely.
12:57So we've got one platform, two offerings inside of it.
13:01Essentials is built on top of the existing MCP code base.
13:04Mortgage Cadence has been around since 1999.
13:07We've got 26 years of best practices built up from working with our lenders.
13:10So while Essentials is new to the market, MCP and Mortgage Cadence is not.
13:16Enterprise is targeted at lenders that have an IT team to support their customizations.
13:20Those lenders typically heavily modify the workflow in MCP to their specific detailed desires.
13:25Essentials clients normally don't require quite as much customization.
13:29They're more focused on having a reduced administrative burden.
13:32We support that within Essentials by managing software upgrades for them and providing that pre-configured workflow and setup.
13:37So you just mentioned that pre-configured workflow.
13:42How does the pre-configured setup help businesses get up and running quickly?
13:47Big implementations are expensive and time-consuming.
13:51In today's market, no one has time for a 12-month implementation anymore.
13:54MCP Essentials allows a lender to implement that platform quickly.
13:58We want to get you working on the system so you can spend more time originating loans
14:02and less time creating technical requirements and building configurations.
14:07And what are the key benefits of the self-service administrative tools for users?
14:13Yeah, good question.
14:14So when we think of Essentials, we're really thinking enterprise power simplified.
14:19Essentials gives you the power of the tools we built for enterprise
14:22in an offering that has lower administrative costs.
14:24One key is that supporting Essentials does not require a full admin or IT team
14:29because it's business accessible and simplified.
14:32Mortgage Cadence maintains portions of the system for you.
14:35So what really feels like Mortgage Cadence is an extension of your admins.
14:39It allows you to focus on the portions of MCP that make you more competitive in the marketplace
14:43and less on the management of the system.
14:45That sounds amazing.
14:48Jeffrey, thank you for showing us MCP Essentials.
14:51For more information about Mortgage Cadence, click the link below.
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