Irwin Home Equity

Crunching the learning curve with individualized training

  As one of the fastest growing companies in direct response lending, Irwin Home Equity needed to find a way to maintain their high standards of customer service while significantly scaling up their volume. Irwin's management team had charged the IT department with finding a way to step up the speed and efficiency of the company's knowledge sharing, to help with internal communications - and to improve their ability to satisfy regulatory agencies.

  The installation of a centralized data warehouse was the first step in the process and Business Systems Analyst Pat Calabro was brought in to make it happen. "The company needed a way to connect several stand-alone reporting functions that weren't always balancing properly - a big issue for a publicly-traded financial institution," Calabro recalls. "A cohesive reporting system is essential internally and when you are scrutinized by auditors or outside investors."

Progress and CorVu a natural choice

  Irwin was already using Progress for their originations database and their programmers were very comfortable in the environment. Some of the advantages that clinched Irwin's decision to choose CorVu (over Business Objects, the other solution they were considering) was CorVu's ability to run native on the Progress® driver, and, ultimately, the demonstrated experience of Progress' sales and implementation consultants.

  "I was impressed with their knowledge of the process," Calabro says. "And I felt comfortable that Progress could really help us in the training and mentoring area. Because our MIS staff is large and distributed throughout the various departments within the company, we wanted a process that would help us bring everybody together and develop a cohesive approach to things."

Individual responsibilities demand individualized attention

  Calabro also wanted to offer her programmers throughout the company more than just a big, general, one-time training session. "It was important to us that the CorVu training address people's specific issues. The mentoring workshops really helped because people got real work to do - actual projects - and were able to ask questions that would affect their daily lives, as opposed to just training where they're required to take raw theory and figure out how to apply it to what they're doing on the job," Calabro recounts.

Time for questions to evolve

  Irwin Home Equity's ultimate goals were to enable line-of-business managers to easily perform their own ad hoc reporting, and to allow IT staff to build in more complex functionality to the data warehouse. and 'What if we do that?" Calabro explains. "Then we scheduled individual follow-up appointments to deal with shortterm help on particular, department-specific reports."


Fast and focused results

  "I don't think we could have done it without the mentoring," Calabro says. "Being able to speed up the learning curve - to see how other companies were implementing CorVu - was critical to the success of our project. As the CorVu consultants were working on the implementation end, we wanted someone to come in and 'rev up the troops,' so to speak, and the people from Progress did just that, helping us to get the most out of the new system.
  "It has just been a very enriching experience all around," she concludes. Under normal circumstances, Progress' Mentoring Workshop is usually completed in just a few days, but Irwin asked for a longer - more segmented - rollout in order to accommodate their internal requirements. Implementing the workshop over the span of several weeks, Calabro's staff was able to test their CorVu™ solutions and return to Progress consultants with specific concerns and issues that could be addressed as they evolved.

  After the initial workshop, Calabro arranged to have weekly follow-up visits from the Progress team to handle additional challenges as they were emerging.
  "When our Progress consultants came by for their weekly visits, we were able to set up question-and-answer sessions where our programmers could sit around and ask, 'What if we do this?'
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Home Equity Loan Broker Awarded Preferred Mortgage Broker Status for Second Consecutive Year from IHE

  For the second consecutive year, BD Nationwide Mortgage Company was awarded "Preferred Broker" Status from Irwin Home Equity for home equity loans and 125% second mortgages. IHE announced last week that BD Nationwide was extended this award for their exceptional level of expertise for home equity loan origination. The preferred status gives BD Nationwide a significant edge because they are one of the few mortgage brokers in the country who can offer large home equity loans to a 125% loan to value. Most lenders and brokers are restricted to $50,000 or $75,000 loan amounts but BD Nationwide is able to offer these high LTV second mortgages for loan amounts ranging from $100,000 to $200,000 to qualifying borrowers across the country.

  (PRWeb) January 29, 2007 -- For the second consecutive year, BD Nationwide Mortgage Company was awarded "Preferred Broker" Status from Irwin Home Equity for home equity loans and 125% second mortgages. IHE announced last week that BD Nationwide was extended this award for their exceptional level of expertise for home equity loan origination. Last year, they were one of only three second mortgage brokers in the country granted this status.

  The preferred status gives BD Nationwide a significant edge because they are one of the few mortgage brokers in the country who can offer large home equity loans to a 125% loan to value. Most lenders and brokers are restricted to $50,000 or $75,000 loan amounts but BD Nationwide is able to offer these high LTV second mortgages for loan amounts ranging from $100,000 to $200,000 to qualifying borrowers across the country.

  IHE grants this competitive edge to brokers and lenders who continue to demonstrate a great understanding of their second mortgage product line. Irwin account executive, Dan Ambrose noted that "With this changing marketplace, having the ability to offer consumers 125% home loans for debt consolidation is imperative for hardworking families to save money by reducing their interest with low rate second mortgages." Ambrose continued "this is a significant opportunity for BD Nationwide to take their loan origination to the next level."

  Noteworthy Guideline Expansion with Premier Loan Broker Status.
• Interest Rate reduction up to for all 125% home equity loan products
• Expanded loan amounts of up to $150,000 for all 125% 2nd mortgage products
• Expanded cash-out limits of up to $65,000 for all 125% loan products

  At this time, BD Nationwide continues to offer fixed rate home equity loans, interest only second mortgages, prime rate home equity lines, and sub-prime second mortgages for borrowers with bad credit scores from high revolving credit debt or past bankruptcies

  About BD Nationwide Mortgage Company: BD Nationwide Mortgage is a California mortgage company whose corporate headquarters are located in San Diego County. BD Nationwide specializes in affordable home mortgages and debt consolidation for homeowners seeking cash out refinancing or residential financing.

   The company niche remains focused on home equity loan and second mortgages . Always striving to reach their goals, BD Nationwide Mortgage is determined to help expand home financing solutions so more people in the U.S. can take advantage and become a homeowner.
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