Here at Polly, we are in the business of rewriting narratives that have existed for decades.
This mission began back in 2016, when a small team of innovators was on the hunt for a modern and agile PPE. Necessity is the mother of invention, right? After realizing that such a PPE did not exist, we got to work. Our team of industry experts reimagined the way that a PPE should (and could!) work for the lender, and Polly has been transforming mortgage operations ever since. Here is what we all know to be true: one size does not fit all. That applies to both mortgage SaaS and the technology provider behind it.
In consideration of today’s market, lenders should prioritize providers that not only allow for near-infinite flexibility, scalability, and tailored configurability within their solution, but those that also place incredible value on building a customer-centric partnership.
The right technology provider will have the experience and understanding of the everyday user. Without this intimate knowledge and thorough understanding of the pain points your organization is looking to solve – as well as the infrastructure to support ongoing innovation – technology could potentially obstruct internal processes and hinder strategic goals.
For the purpose of today’s article, let me introduce you to two topics that are central to building a customer-centric partnership at Polly – and how we do things differently.
Pipeline migration
When making the switch to a new PPE, lenders face the inevitable pain and challenge of what to do about loans that are already locked and still going through origination.
Historically, there have been two options:
- They manually process all loans that are already locked until they have been fully originated. Ouch.
- They run two pricing engines in parallel, and have their team manage the older loans on the old PPE and the newer loans on the new PPE. Double work… double ouch.
Polly is the only mortgage SaaS provider to build and introduce an advanced pipeline migration tool to solve this very issue, and thus eliminate the myriad of challenges that have historically accompanied a large software migration.
We use state-of-the-art technology to query loans from the LOS that have active locks and recreate them in our PPE, so lenders can truly flip the switch when they make the transition. Every loan in progress will continue to flow through our robust post-lock workflows including product change, lock extensions, re-locks, re-prices, price exceptions, float downs, etc.
This is just one example of how we have rewritten the onboarding and implementation journey narrative to facilitate a smooth transition and save our customer partners valuable time.
Speaking of time savings: it is standard practice for our team to shoulder 90% of implementation and configuration. Lenders are only asked to complete testing in their environment to ensure that all custom workflows and processes align to their specific business needs. Don’t be hoodwinked by legacy technology vendors that claim this to be an impossible feat, simply because they do not have the infrastructure to support taking the onus of implementation off the mortgage lender.
Customer-centric innovation
With our customer partner list growing at a rapid pace, it is clear that lenders find significant value in our technology, the way we approach innovation, and our unwavering commitment to open communication and collaboration.
It all boils down to this: Polly is not here to be just another vendor. Yes, we are here to fix the fundamental gaps that exist in legacy solutions but even more than that, we are here to partner with each and every mortgage lender to drive down the cost of origination, increase per-loan revenue, and create demonstrable value across the entire capital markets workflow.
Our customer partners are a phenomenal source of valuable feedback. The result? Key functionality.
Polly’s product change function is a shining example, set in motion by necessity in the current lending environment. The only of its kind, this capability delivers unprecedented transparency into key change functions and facilitates deeper configurability, flexibility, and valuable time savings.
Exceeding the expectations of our customer partners drives our team to dig even deeper, to go even further, and to continue innovation of the most cutting-edge, feature-rich solutions available within the mortgage capital markets vertical today.
We are truly on a mission to democratize pricing across the industry, and we are just getting started.
