Optimizing With an Eye on the Future
Dominion Financial Services is a nationally recognized private lender in 49 states that originated over $180 million in loans in calendar year 2019 to experienced real estate investors through four lending products: Fix and Flip loans, 30 year Rental loans, Ground Up Construction loans, and Small Multi-Family loans.
Dominion’s legacy system had been cobbled together over a number of years to power their interest based loan business. Relying on systems like Excel, One-Drive, Office and other platforms, they built a system that suited their needs at the time, however, as they grew, the system was getting stretched and they foresaw the need to upgrade early. to enable a digital transformation and get ahead of the competition and set themselves up for continued long term success
Dominion began the search to find a partner who could to help them transition to a fully digital, streamlined and integrated Loan Management System (LMS). The FUNDINGO LMS platform had one significant advantage over the competitors: FUNDINGO could be configured to Dominion’s specific lending process while the competition’s software would have required Dominion to change their process and potentially lose that special sauce they had already developed over years of hard work.
CloudMyBiz/FUNDINGO evaluated Dominion’s process, and prepared a solution that would meet their needs and deliver immediately improved functionality and tools. The new system created a transparent feedback loop between origination and servicing, letting Dominion have better control of their data and easily find the lifetime history of a borrower. With FUNDINGO, Dominion kept their current process, and via the integrative power of Salesforce, are now set up to take advantage of the cutting edge of technology whenever it hits the market.
|“The FUNDINGO team was a pleasure to work with throughout the design & build out. To ensure buy-in from our team, we had to coordinate with 6+ stakeholders on our side. FUNDINGO’s project management approach kept us organized and ensured that each of those stakeholders had input and feedback into the design. This helped tremendously with the adoption process.“
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