SLK Global Solutions, a leading provider of comprehensive products and solutions for the mortgage, title and banking industries, announced that mortgage loan originators are responding favorably to the company's Mortgage Management as a Solution (MMaaS) offering, the company announced in a release.

MmaaS is a suite of technology led solutions covering the full spectrum of the mortgage life cycle. The offering was designed to reduce costs with smart transformations and increase productivity while maintaining optimum compliance. SLK's clients have found that the offering provides a better borrower experience, lower cost to fund, increased accuracy, and faster mortgage processes, the company said.

"Originators are eager to transform their businesses into more competitive enterprises as the purchase money market continues to take hold and competition becomes more intense," SLK Global Solutions Mortgage Division’s Senior Vice President Eric Wilson said in the release. "This is very challenging for lenders as every moment they take away from the work of attracting more borrowers to focus on transforming their operations puts them further behind their competition.

“Partnering with SLK Global helps them focus on their core business of growing market share while we take care of the rest. This means looking deep into their operations, administering key learnings having worked with mortgage leaders for more than a decade now, bringing in best practices and foreseeable innovations based on industry trends,” Wilson added. “All of this when implemented is sure to boost throughput while decreasing costs. Our futuristic yet realistic solutions-based approach is seeing significant traction in the market because we're getting results."

Wilson pointed out that clients using MMaaS are extremely happy with the value that they are seeing consistently. Some of them are listed below:

• Time to close down from 44 days to 21 days (top 20 lender);
• 37 percent reduction in residential mortgage closing "Pend" rates;
• 25 percent reduction in mortgage closing turn time; and
• 85 percent reduction in mortgage post-closing "Pend" errors.

"Originators deserve consistent ROI and results from their partners and MMaaS allows us to deliver it," SLK Global Solutions President Alok Datta said. "Our success is rooted in our dominion technologies, our transparent integration process and our ability to deliver communication on demand, including the analytics and trend analysis lenders need to keep things moving fast. It does not surprise me that the market is embracing MMaaS."

MMaaS is already in use by loan originators across the country, including 4 of the top 25 lenders.