Why did MortgageFlex reinvent itself over the past couple of years?
There have been significant changes in the lending space over the last four years. We had to change as well to support the new marketplace. The market shares of the top 200 lenders has shifted dramatically along with their business models. Retail has made a major comeback, and new lenders are entering the wholesale and correspondent space. Our concentration has always been on mid-tier lenders and now that segment of the market is expanding both in size and requirements. We had to make substantial changes to our products and how we implement them to meet the challenges of the changing market.
There has been a significant shift in our delivery model as more lenders have the vendor host and manage the LOS utilizing a SAAS model. We have been in the hosting business over 10 years, but our old architecture was not the best solution for delivering the application over the web. We came up with a whole new architecture fully supporting the SAAS model and that required a complete rewrite of our code using the latest version of Microsoft .NET technology.Dave Hamster via photopin cc