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Ohio Bankers League Endorses Promontory MortgagePath to Fuel Mortgage Delivery

2021-01-13T17:18:50+00:00May 21st, 2020|

Ohio Bankers League Endorses Promontory MortgagePath to Fuel Mortgage Delivery Ohio’s banks are signing on to deliver a digital loan experience that makes mortgage lending faster, simpler and more scalable for growth as their state association endorses services offered by Promontory MortgagePath. The Ohio Bankers League (OBL) officially endorsed Promontory MortgagePath’s (PMP) comprehensive mortgage fulfillment services and digital point-of-sale (POS) technology, Borrower Wallet®, the association announced. PMP’s tech-driven mortgage solutions are designed to help banks compete in the mortgage business more profitably, efficiently and compliantly while eliminating the fixed costs in their current mortgage model. “Ohio banks and thrifts are relentlessly focused on innovation and uncovering the best ways to increase efficiencies and meet customer demands,” said Mike Adelman, President & CEO of OBL. “At a moment in history where digital offerings and superior service are more urgently needed than ever, PMP stands out for its innovative technology,

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Promontory MortgagePath Consolidates Family of Companies

2021-01-13T17:19:59+00:00January 8th, 2020|

Promontory MortgagePath Consolidates Family of Companies Promontory MortgagePath LLC has consolidated its family of companies into one entity with a singular focus on driving down the cost and time required to originate mortgages. The move blends three distinct teams with complementary skills and strengths, uniting Promontory Fulfillment Services LLC (PFS) and PromonTech LLC under their former parent-company banner — Promontory MortgagePath. Since their founding in 2015, the three companies have worked collaboratively to provide technology-driven mortgage fulfillment solutions — with PromonTech developing proprietary point-of-sale mortgage technology, PFS providing comprehensive third-party mortgage fulfillment services, and Promontory MortgagePath concentrating on leadership and strategy. Now, all functions will be unified as Promontory MortgagePath. “Integrating our powerhouse teams represents a strategic realignment of our mission to provide lenders with best-in-class, tech-enabled mortgage fulfillment services that improve borrower experience, ensure regulatory compliance and lower the cost of origination,” said Gene Ludwig, Promontory MortgagePath’s

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Kentucky Bankers Association Endorses Promontory Fulfillment Services for Mortgage Services

2021-01-13T17:39:40+00:00November 7th, 2019|

Kentucky Bankers Association Endorses Promontory Fulfillment Services for Mortgage Services Kentucky’s banks are gaining a new and cost-effective way to stay active in home lending as their state association endorses innovative services offered by Promontory Fulfillment Services LLC (PFS). PFS announced the Kentucky Bankers Association (KBA) officially endorsed PFS’ comprehensive mortgage fulfillment services and proprietary point-of-sale (POS) technology, Borrower Wallet®. PFS’ tech-driven mortgage fulfillment solutions are designed to help banks, especially community banks, compete in the mortgage business without incurring the expense and burden of supporting an entire mortgage operation. “KBA selected PFS’ best-in-class mortgage fulfillment services to help banks remain competitive in the face of steadily rising built-in mortgage expenses and intense competition,” said Ballard W. Cassady, Jr., KBA president and CEO. “Mortgage lending is increasingly a scale business, which is making it more challenging for community banks to participate profitably,” Cassady said. “Part of our mission

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Promontory Fulfillment Services LLC Chosen as a North Carolina Bankers Association Endorsed Vendor

2021-01-13T17:37:15+00:00September 19th, 2019|

Promontory Fulfillment Services LLC Chosen as a North Carolina Bankers Association Endorsed Vendor Community banks in North Carolina have gained a new option for offering mortgages as a core product without the expense and burden of supporting an entire mortgage operation, Promontory Fulfillment Services LLC (PFS) announced. PFS, a provider of tech-driven mortgage fulfillment solutions, announced that Community Bank Services (CBS), a wholly-owned subsidiary of the North Carolina Bankers Association (NCBA), has officially endorsed its comprehensive mortgage fulfillment services and proprietary point-of-sale technology, Borrower Wallet®. PFS’ best-in-class mortgage fulfillment services were selected for their ability to help community banks manage costs and remain competitive in the face of ever-increasing built-in expenses. Banks working with PFS gain the support of a partner focused on deploying its expertise and industry-leading practices to help banks seamlessly serve their customers. CBS also recognized PFS’ innovative point-of-sale technology, Borrower Wallet®, for its ability

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From a Big Bank to a Tech Startup: Four Noticeable Differences

2020-12-01T21:27:42+00:00July 18th, 2019|

I worked at one of the largest national banks for 18 years when I knew it was time for a change. While I amassed an incredible amount of knowledge working alongside brilliant mortgage minds, I woke up wanting more. My career in banking was an accident – it wasn’t my passion. I longed to channel my expertise into a role that put me in the proverbial “driver’s seat.” As I began exploring different options across the country, a Denver-area recruiter reached out with an opportunity at a mature startup. After nearly two decades in big-bank corporate culture, transitioning to a startup never really occurred to me – trading stability and certainty for unpredictability and greater responsibility. I was intrigued and, with my family in tow, moved across the country to start life as a Promontory MortgagePath employee. As one might expect, startup life is notably different than corporate life. After

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Say ‘Hello’ to the New Promontory MortgagePath

2020-09-24T14:20:58+00:00January 15th, 2019|

Where there is growth, change is inevitable. At Promontory MortgagePath LLC, we’re expanding and evolving – and now we’re consolidating our family of businesses under a unified brand. As the new Promontory MortgagePath, we’re integrating our three powerhouse teams into one, marking a milestone in our journey to make the mortgage process faster, simpler and more inclusive for all borrowers and lenders. Since our inception, clients have known Promontory Fulfillment Services as a provider of comprehensive mortgage fulfillment services and PromonTech as the developer of the innovative lending technology fueling Promontory Fulfillment Services’ premium customer experience. As the parent company, Promontory MortgagePath concentrated on leadership and strategy. Officially unifying Promontory Fulfillment Services and PromonTech as Promontory MortgagePath strengthens our ability to better address today’s fast-moving mortgage marketplace. Competitive pressures have never been greater: Customers demand mortgage services from their local financial institutions, and these institutions see mortgages as a powerful

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Promontory MortgagePath Rolls Out Cost Savings Calculator For Lenders

2020-09-30T18:34:00+00:00June 20th, 2018|

Promontory MortgagePath Rolls Out Cost Savings Calculator For Lenders Promontory MortgagePath reports that its Promontory Fulfillment Services (PFS) unit has developed a new online Cost Savings Calculator that lets banks, credit unions and mortgage companies quickly compute the operational cost of residential mortgage loan origination – and then compare that to PFS’s outsourced solution. By inputting just the number of loan units the institution originates per month; the number and annual salary of full time loan-production staff (processors, underwriters, closers and administrative staff); and the number and annual salary of support staff (compliance/legal, secondary marketing and technology), lenders can calculate the cost of origination and compare it to the cost if PFS managed the process. The calculator only focuses on operational costs once the loan has come into the institution and does not factor in loan officer compensation, because it assumes the client will continue to prospect for the