Technology delivers real-time pricing to SunTrust providing the ability
to react quickly to changing market conditions
Metavante (NYSE:MV), a leading provider of banking and payments
technology, today announced that SunTrust Mortgage, Inc. has
successfully deployed Metavante Corporation’s online point-of-sale (POS)
technology in its retail and third-party mortgage operations. Richmond,
Va.-based SunTrust Mortgage is a wholly owned subsidiary of Atlanta's
SunTrust Banks, Inc.
SunTrust Mortgage is using Metavante’s origination platform, a
comprehensive, interactive and secure system designed to provide
improved loan quality controls for retail, correspondent and wholesale
mortgage lending channels. The Web-based system incorporates Metavante’s
automated decision engine which enables retail loan officers,
origination call centers, correspondent lenders and mortgage brokers to
instantly obtain information about SunTrust Mortgage’s products
including eligibility, pricing and underwriting findings.
Metavante’s origination technology contains pricing functionality that
allows SunTrust Mortgage to provide customized, risk-adjusted pricing in
an increasingly complex mortgage environment. The solution also provides
integrated access to processing services and automatically generates
rate sheets from the lender’s stored product guidelines.
Additionally, SunTrust Mortgage uses Metavante’s fee module as part of
its retail fee management system, enabling the lender to generate
specific fee disclosures. In addition, Metavante provides FHA/VA
(Federal Housing Administration/Veteran’s Administration) lending
capabilities for SunTrust Mortgage, to support their goal of growing
their government lending infrastructure.
“With Metavante’s origination platform we have an enhanced ability to
implement and adhere to investor guidelines and risk-based pricing,”
said Sterling Edmunds, president of SunTrust Mortgage. “We are intensely
focused on credit quality and the overall quality of each loan file
itself, especially since the mortgage lending process has become
increasingly more complex. By pushing our rules to the point-of-sale we
believe that we have significantly improved the customer’s experience
and are better able to present the right product at the right price from
the very beginning of the application process.”
“SunTrust Mortgage is one of the premier mortgage lenders in the U.S.,”
said Jamie Geschke, president of Metavante Banking Solutions.
