Financial Services Industry
Industry: Email Alert RSS FeedYale Mortgage taps GMS solution
Mortgage Banking, Sept, 2006
Miami-based Yale Mortgage Corporation has selected Lakewood, Colorado-based Guardian Mortgage Services' (GMS') outsource solution to bolster its backroom operations, GMS announced.
The selection of GMS will immediately expand Yale Mortgage's closing capacity to support its existing growth and ensure capacity for the increasing volume, according to Woody Kahn, chief executive officer of Yale Mortgage Corporation.
"Guardian Mortgage Services is an important part of meeting current demand and our continued growth and expansion into new markets," explained Kahn. "Outsourcing back-office functions like title and escrow, closing and post-closing to the experienced team at GMS ensures our ability to continue opening doors to subprime borrowers when other lenders cannot accommodate their needs."
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Due to its tremendous growth over the past five years and expansion plans into three new states, Kahn said, Yale Mortgage selected GMS to provide document preparation, title and escrow, closing and post-closing services in order to exponentially increase its back-office capacity. Yale Mortgage started lending in Arizona in April 2006 and plans to expand into Colorado and Nevada during 2006.
Some of the reasons GMS was chosen, said Kahn, included GMS' ability to centralize title and escrow, closing and post-closing processes for loan originators; its capability to provide increased quality control of loan data; and its capacity to provide increased awareness for managers into the status of loans via a real-time, Web-based system with a high level of detailed reporting.
GMS, a division of Guardian Mortgage Documents, also based in Lakewood, Colorado, provides the national lending community with mortgage fulfillment outsource services that focus on back-office operations including vendor management, title and escrow, closing coordination, document preparation and post-closing, according to Tim Anschutz, vice president of marketing for Guardian Mortgage Documents.
"Yale Mortgage's ability to provide unique financing opportunities has generated tremendous interest in its services from brokers across the country," said Anschutz. "As a result of expanding back-office capacity and improving quality control by outsourcing with Guardian Mortgage Services, Yale Mortgage is positioned to help even more subprime property owners across the country."
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