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The plans we have for the Mortgage Cadence Platform (MCP) are plenty of reason to get excited as we enter the new year.
As we reminisce about the holidays spent with our families these last few weeks, the excitement lingers. Not even the Fed’s decision not to lower rates just days before Christmas could dampen our spirits.
That’s because the work we’ve been doing on the Mortgage Cadence Platform (MCP) is plenty of reason to get excited.
Version 4.0 is set to come out this spring, and we will have a lot to show and talk about at our Ascent Mortgage Cadence User’s Conference. We certainly hope you are planning to attend.
But it’s not just about new functionality. It’s about a new way to deliver mission critical software. The exciting part is that we’ve already embraced it.
The easiest way to describe our new approach is to revisit the old one. To be fair, it wasn’t just the way we deployed software. Anyone providing a large, complex, mission-critical platform faced similar challenges.
The big problem was the scale. Enterprise LOS software is heavy metal. It’s production grade, always on, fully compliant software that lenders must rely on. Making changes was difficult, both to wire into the existing functionality effectively and deliver in a way that didn’t overwhelm the lender.
Fortunately, those days are over, thanks to new software architectures, a very robust API ecosystem, and a host of other enhancements to our process. Thanks to Mortgage Cadence’s approach, functionality is more contained and controlled by the lender.
This makes it faster, easier and much more affordable to add new partners and functionality to MCP. In fact, lenders can be up and running with a new third-part services partner in 1 day! And we’ll never tell them who they have to work with. Aren’t we all a little tired of that “Elf on the Shelf” mentality?
This is something we are very excited about because it allows us to continue delivering the great software tools we’re known for to a growing customer base at a very affordable price. How’s that for Christmas spirit?
Part of the work we’ve been doing over the past year is adjusting our team and staffing up our QA/QC team. Today, we have a staff of professionals who focus on ensuring our regression test cases provide unprecedented coverage of the solution. It’s been a heavy investment for a technology company, but it’s what we’ve needed to guarantee the quality of our output.
We’ve added scores of automated testing suites that multiply the impact of our experts and increase our speed to market. The investments we’re making now, due in part to our wonderful partnership with Accenture, are the kind of gift that keeps on giving!
But one of the most significant changes our customers will see is the size and speed of new releases. Instead of just one or two big upgrade events each year (like Easter and Christmas), we’re going to iterate faster and deliver smaller releases lenders can adopt more quickly, and with less disruption. Spreading Christmas cheer all year long.
After all, it doesn’t matter how great a tool is if it never gets used. So, we’re making it easier than ever for every lender to step up their game.
Much of the time, improving lender performance will come down to cost savings. We know that if we’re not delivering something that allows a lender to be more efficient or reduce their cost to lend, we’re spinning our wheels. We’re more into sleigh runners.
We never set out to create the cheapest LOS software on the market, but in today’s market -- and all of the ones that will follow -- every dollar the lender spends matters. We’re dedicated to working with our lender partners to build the businesses they want at a price they can afford so they can offer their borrowers the experience they deserve.
Ready to dig in deeper? Reach out to us and, together, we can explore how MCP can meet your needs in 2024 and beyond.
By Jim Rosen, EVP, Services at Mortgage Cadence
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Mortgage Cadence:
Alison Flaig
VP, Marketing
(919) 906-9738