Veritas Funding Selects Alight Mortgage Lending™
Utah residential mortgage lender and servicer signs with SaaS provider Alight, Inc. for what-if scenario analysis and dynamic forecasting.
Alight, Inc., a leading provider of cloud-based applications for real-time, dynamic scenario comparison and analysis, today announced that Veritas Funding has selected Alight Mortgage Lending for continuous reforecasting.
Alight Mortgage Lending is an enterprise forecasting and planning application built for mortgage lenders by mortgage industry veterans and Silicon Valley engineers. With Alight, mortgage bank CEOs, firm owners and their teams can see the financial impact of decisions—on P&L, balance sheet and cash flow—before they’re made.
“Much of our focus in 2017 is on strategic growth with tighter management of the business,” said Chad Rogers, Executive Vice President and CFO at Veritas Funding. “Alight’s scenario analysis capabilities and variance reporting will help us improve efficiencies, optimize resources and better manage warehouse lines.”
Alight Mortgage Lending incorporates data from key enterprise systems—including the general ledger and capital markets providers—so management teams can run forward-looking what-if scenarios to see how a change in operations or shift in market conditions will affect net income, MSR values, branch performance, staffing and more.
“We are delighted to welcome Veritas Funding to the growing list of mortgage lenders leveraging the power of Alight’s real-time scenario analysis to evaluate the best path toward increased profitability and growth,” said Jared Huff, Managing Director, Alight Financial Services. “Alight Mortgage Lending focuses on the future state of a business. Executives can evaluate challenges and opportunities from every conceivable angle and then develop not only a ‘Plan A,’ but also have plans B, C and D ready, as well.”
With Alight, lenders can react quickly to optimize resources. And the application is cloud-based so teams can access financials from anywhere, anytime and from any device, affording them the ability to make decisions in real time—even in dynamic markets.
“Our customers get very excited when they realize what they’re going to be able to do with our solution in place,” continued Huff. “No one else is doing what we’re doing.”
About Alight, Inc.
Alight, Inc. is the leading provider of industry-specific, cloud-based applications that give customers the power to see the financial impact of every decision, before they make it. Alight works with firms in mining, mortgage banking and other industries. For more information: alightinc.com.
About Veritas Funding
Veritas Funding is a leading residential mortgage lender serving the financing needs of Utah families. Since its inception in 2004, the people of Veritas have operated with integrity, honesty and a practice of quality, fair and responsible lending. “Veritas” is the Latin word for “truth.” Veritas Funding is an approved Fannie Mae seller/servicer and Ginnie Mae issuer, and the company funded over $1.6 billion in residential loans in 2016.
Veritas currently has 11 Utah branches, all with proven teams of exceptionally qualified origination, loan processing, legal, risk management, underwriting, closing, fair lending, compliance, and secondary market talent. For more information: vfund.com