Customer Success Story

Columbus Capital Lending streamlines processes for growth

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The highest quality, fully compliant loans in less time.

Columbus Capital significantly enhanced and sped up loan processing by building customized rules within the Encompass platform.

3 Days

Decreased loan origination time

9.1%

Increase in annual productivity

164

Additional loaned closed per year

Columbus Capital Lending

Columbus Capital Lending is not your typical mortgage company. Since the start of its operations in 2014, this Miami-based company has served the specialized needs of an underserved Hispanic market. Its mission is helping as many people as possible to sustainably own a home they can afford. Its differentiator is offering the type of personal service that goes above and beyond.

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“Automation is the key to success and efficiency. The quicker you close a loan, the more people you can get into homes. Encompass is extremely powerful; it has the ability to do anything you desire.”

Jorge Vidaurrazaga
VP of Information Technology

Streamlined closing through automation

“In the past, most lenders waited for loans to be cleared by an underwriter, prior to clearing files for closing and generating a closing disclosure,” explained Jorge Vidaurrazaga, Vice President of Information Technology for Columbus Capital Lending. “We believed that if we could request a disclosure without waiting for underwriting to complete a final review of the loan, we could close loans more quickly.” Vidaurrazaga and team researched the idea. “By automating the checklist for ordering closing disclosures, we could gain the efficiency we needed to keep our service levels high, while maintaining our excellent loan quality standards,” Vidaurrazaga said. The team created a custom Loan Processor—Initial CD Request Input from within Encompass. Now, when a loan goes to underwriting for finalization, that form automatically triggers a closing disclosure request. By simply adjusting a two-step process to one that happened simultaneously, Columbus Capital not only solved the problem, but had a better-than-expected impact on closing timelines.

Customized solutions for efficiency

The team created a custom Loan Processor—Initial CD Request Input from within Encompass. Now, when a loan goes to underwriting for finalization, that form automatically triggers a closing disclosure request. By simply adjusting a two-step process to one that happened simultaneously, Columbus Capital not only solved the problem, but had a better-than-expected impact on closing timelines. "By listening to the people around you, you can open your eyes to unseen ideas. Using the Encompass platform, you can put these ideas in motion,” Vidaurrazaga said. “We know automation is the key to success and efficiencies. The quicker you close a loan, the more loans you close, and the more people you can get into homes.”

The Challenge

Columbus Capital was looking to reduce loan closing timelines, in the wake of new regulatory demands. ICE Mortgage Technology worked to support the company’s growth and streamline the entire loan process.

The Solution

By using Encompass, Columbus Capital was able to significantly enhance and speed loan processing. They built customized rules within the platform to ensure that their loans were of the highest quality and compliant with regulations.

Benefits and Results

Every year, Columbus Capital continues to generate some impressive results, fueled by an innovative staff and the flexibility of Encompass. The customizable system gives them: Reduced loan processing time, Increased Productivity, Ensured compliance, Innovation

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