Academy Mortgage Buys The Source Code For Its Third-Party Origination Platform

Posted by Patrick Barnard on February 07, 2017 No Comments
Categories : Residential Mortgage

What’s one way for a mortgage lender to take full control of its third-party origination platform without having to run back to the vendor every time a change in functionality needs to be made?

One solution is to acquire the source code so that changes can be made “in house” by the lender’s IT team.

That’s exactly what nationwide lender Academy Mortgage Corp. has done. The lender announced this week that it has acquired the source code of Matic Home, the company’s secure Web- and mobile-based platform that allows both lenders and borrowers to manage the mortgage process, from Matic Insurance Services, which developed the platform.

By owning the source code, Academy Mortgage will now be able to build its own mortgage management platform that is unique to the way it does business, the lender says in a release.

Matic Home streamlines the process of closing a mortgage loan by utilizing loan data and state-of-the-art technology to find the best homeowner’s policy options for home buyers from highly rated carriers, Academy says.

The platform allows loan officers, processors and borrowers to manage the mortgage process, while sending, receiving and signing documents through a seamless online environment.

Matic Home also provides notifications that keep users and Realtors informed when tasks are pending and when milestones are accomplished. In addition, the software provides a digital loan transaction from application through funding, which results in a better borrower experience and a shorter loan process for borrowers.

“Acquiring the source code for Matic Home will allow us to own the customer experience without having to rely on a third-party vendor,” says Dan Richards, chief information officer for Academy Mortgage, in the release. “Since our decision, we have been particularly impressed with flexibility of the platform, as well as the expertise and assistance of Matic’s development team through code transfer.”

“Matic Home is of the greatest value when it is customized to fit a lender’s specific business needs and workflows,” adds Ben Madick, co-founder of Matic. “As self-driven, digital mortgages continue to gain popularity, our technology can help a lender like Academy Mortgage go quickly to market with its own branded customer experience.”

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