LendingQB, a provider of SaaS mortgage origination technology, ranked highest in overall satisfaction among the top-10 mortgage loan origination system (LOS) providers by lender share for the fourth straight year according to The STRATMOR Group’s 2018 Technology Insights Study.
The report’s key LOS observations show that lenders were as satisfied with LendingQB as they were with proprietary systems with a score of 8.6 out of 10, the highest ratings among the top 10 LOS vendors in terms of market share.
LendingQB’s functionality ratings were consistently higher than the survey average across all 20 categories that were surveyed. The report also highlights that LendingQB and PriceMyLoan both performed well with a dominant number two position in each respective market share.
The study shows that 92.8 percent of respondents rated LendingQB’s overall customer support either highly effective or adequately effective, with 60.7 percent of that being highly effective.
"Service and support continue to be a major difference-maker that separates LendingQB from its competitors,” said Nicholas Santarelli, Vice President of IT for Mid-Island Mortgage Corp. “With other vendors, you’d be lucky if they respond at all. Whether by email, phone or chat, I can always depend on the LendingQB team to get back to us as soon as possible."
Another key observation from the STRATMOR report shows LendingQB’s built-in loan pricing tool, PriceMyLoan, is an important player with a 95 percent overall satisfaction rating in functionality effectiveness across nine categories.
PriceMyLoan is built within the LendingQB platform and is included at no additional cost, eliminating the need to purchase an additional pricing tool that lacks the level of integration that LendingQB can provide.
"While we are very pleased to be recognized as our industry’s most reliable and satisfactory vendor partner, we are very excited to see how we can set the bar even higher moving forward," said David Colwell, vice president of strategy at LendingQB. "The numbers in the study speak for themselves. Our clients recognize that we are more than just a vendor, and their success remains our top priority."
LendingQB, a provider of an innovative web-based loan origination system (LOS) and division of MeridianLink, continues to extend market-leading integrations through its web-based LOS that provides lenders with a flexible, innovative workflow. The system’s open-architecture application program interface (API) enables lenders to select the tools that maximize efficiency by leveraging integrations from more than 250 mortgage service providers. For more information, visit www.lendingqb.com.
MeridianLink, Inc., developer of the industry’s first multi-channel account opening and loan origination platform, is a leading provider of enterprise business solutions for financial service organizations. The company’s passion for excellence is reflected in its web-based credit reporting, lending and new account opening/deposit technologies, which all enjoy solid reputations as being cutting edge, reliable and affordable. Based in Costa Mesa, Calif., MeridianLink is committed to creating smart solutions that deliver real value. For more information, visit www.meridianlink.com.
About STRATMOR Group
STRATMOR Group is a leading mortgage industry advisory firm that provides a range of programs and services designed to counsel lender CEOs and senior executives. STRATMOR serves more than 250 companies annually, providing strategies that increase growth and improve profitability in sales, marketing, technology, operations and mergers and acquisitions using comprehensive, propriety data and key insights gained through extensive experience in the mortgage industry. The company is well known for its financial models and its collaboration with the Mortgage Bankers Association in the PGR: MBA and STRATMOR Peer Group Roundtables program. Find out more about STRATMOR on its website at www.stratmorgroup.com.
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