With decades of mortgage industry experience, Cindy Borden knows the challenges lenders face with outdated technology. Now, as Mortgage Cadence unveils MCP Essentials, she explains how this next-generation platform delivers a fully integrated, modern loan origination experience. Learn how Mortgage Cadence Essentials sets itself apart from traditional systems, enhances compliance, and streamlines operations—all while ensuring lenders have a secure, single source of truth.
Category
🗞
NewsTranscript
00:00We are live from Las Vegas, I'm Diego Sanchez, President of HousingWire, and I'm joined today
00:12by Mortgage Cadence's Head of MCP Essentials Sales, say that three times fast, Cindy Borden.
00:21Thank you so much for joining me today, Cindy.
00:23Thank you for having me, Diego.
00:24So before we dive in, could you just introduce yourself and your role at Mortgage Cadence?
00:30Yeah, so I'm Cindy Borden, Head of MCP Essentials Sales, been with Mortgage Cadence since about
00:362012.
00:38And my role is to work with our prospective clients in delivering the MCP Essentials solution.
00:44And you've been in the industry for over three decades at this point, on the lender side
00:51and now in tech.
00:53So what has that experience given you in terms of your perspective on how you should go to
01:00market with this product?
01:02Yeah, you know, a lot of things have changed over 30 years.
01:05But I think one thing that has happened with that extensive experience, both in leadership
01:10roles at Wyoki Credit Union and also at Mortgage Cadence, is I have a deep understanding of
01:15the mortgage process, right?
01:17And also with that process comes the challenges that lenders face and the opportunities that
01:21they have to make a difference in someone's life.
01:25And so for me, I have a clear understanding of the process.
01:28And I have sat where those people have sat, I have faced the same opportunities and those
01:33same challenges, and especially when it comes to doing more, better and faster, right?
01:39And so in working with our current clients, I really have seen their need to have something
01:43that is more configurable and flexible in their loan origination system.
01:48So what is Essentials?
01:50It's a new platform that Mortgage Cadence has launched.
01:54What is it from your perspective?
01:55Well, I'm glad that you asked that, because to clarify something, it's not a new platform.
02:00It's a new offering on our existing MCP platform.
02:04So we launched MCP platform back in October 2021.
02:08And since that time, we have originated hundreds of thousands of compliant loans, right?
02:14But by extending that system, by enhancing it, really with MCP Essentials, what we aim
02:20to do is offer some unique advantages that our clients would have the opportunity to
02:25streamline their operations, to improve their efficiencies and achieve better outcomes,
02:29right?
02:30More, better, faster.
02:32And one of the ways that we do that is through our pre-configured workflow, but yet that
02:37even though it's pre-configured, we still maintain the flexibility and configuration
02:41that we feel is a differentiator in the mid market space.
02:44Let's talk more about differentiating.
02:46There are several other LOSs that have significant market share.
02:50How do you differentiate from those other LOSs that are on the market?
02:55Right.
02:56One of the things I think, for me, that is really outstanding is that MCP Essentials
03:00is one truly end-to-end solution.
03:03So it will be delivered with a modern point of sale, the LOS.
03:07It has an embedded doc preparation solution and a document management solution all in
03:12one database, right?
03:13There's no need for various vendors to help you get through that loan process.
03:19Yeah.
03:20Let's dive deeper on those differentiators.
03:22How else are you differentiating in this marketplace?
03:26We took our over 25 years in the mortgage technology business and worked to develop
03:30a best practices workflow while still maintaining that configurability and flexibility that
03:35our lenders need.
03:37And one of the examples of that is our UI designer.
03:39So with the UI designer, the lenders have the ability to create a page that is specific
03:45to their lender needs.
03:47MCP Essentials will be delivered with over 1,500 miscellaneous data fields they can use
03:53that's relevant to their business.
03:55And in addition, those fields can be mapped into the doc preparation solution without
03:59any sort of additional cost.
04:01So can they customize those over 1,000 different fields into their own sort of flow and application
04:11process?
04:12Yes.
04:13They can be creating those pages.
04:15It's not going to break the model.
04:16It's not going to have anything to do with changing the workflow that would cause issues
04:21with the next upgrade.
04:23And so they can take that information, curtail it to their specific needs, to maybe their
04:26niche products or data that they feel is relevant to their business, and still maintain
04:31the model.
04:33So I did some research about your platform.
04:37And one of the things that you talk a lot about as a company is trying to avoid this
04:42sort of Band-Aid approach and this patch approach.
04:46How do you do that in your product development process?
04:49I think one way that we have tried to avoid the Band-Aid approach with temporary fixes
04:53is that MCP Essentials has adopted an API-first response that allows seamless integrations
04:59with third-party providers, which is really important in the mortgage business.
05:03And so you have integrations with various points of sale systems.
05:07You have integrations with companies like Optimal Blue.
05:10And I believe that really allows our clients to have some sort of robust and modern solution
05:15to get their business accomplished.
05:17And I imagine it also helps because you want to provide your clients with sort of one single
05:24and reliable source of data and truth.
05:27So I imagine that API infrastructure gives you that ability.
05:30Right.
05:31I think that's really important.
05:32You want to make sure that you have the single source of data that's reliable and consistent,
05:36because it doesn't do any good to originate a loan if it's not compliant, right?
05:40And so I think the fact that we have the ability to have those integrations so that you have
05:44a single source of record, right?
05:46Also, we offer a point of sale.
05:48But if a lender wants to choose another point of sale, then we have the ability to integrate
05:52with that too, because that may be best for their business, and just bring all that.
05:57So I think the fact that we have the seamless approach to those integrations really will
06:04help our lenders be successful.
06:05Yeah, I'm hearing a lot of flexibility and customization.
06:11Those seem to be keys to this product that you've built.
06:15But in addition also to automation, you know, one of the things that we're looking at is
06:18routine tasks such as ordering a credit report or in a FLEDS under termination can be done
06:22automatically.
06:24And as long as the data that's returned meets certain criteria, then there's no intervention
06:27by the user, right?
06:29So that if an underwriter is reviewing a file, things that maybe they can focus on are the
06:34exceptions and not the routine checks.
06:36And we just believe that really leads to more efficiencies within their job role and managing
06:41their workflow.
06:42So you've been at Mortgage Cadence for over a decade now, but it seems like some new things
06:47are percolating over the past year.
06:50Isn't it an exciting time to be at Mortgage Cadence?
06:54You know, it is very exciting for me to see this come to fruition.
06:58You know, we feel that one of the great benefits of MCP Essentials is that it offers enterprise
07:04level capabilities without the additional costs and administrative requirements that
07:09some of those enterprise solutions are known for.
07:12We feel it can be revolutionary in the market.
07:14And for me to be able to be a part of that is inspiring and just truly exciting.
07:20What do you think comes next as we move through 2025 and hopefully an improving housing market
07:27and origination market?
07:30You know, I think the last few years, it's hard, you know, we would have never predicted
07:35what would have happened in 2020 with historically low rates during a pandemic.
07:40And I feel like with Essentials, it's going to be scalable.
07:43So whether we do see a drop in rates and lenders have the ability then to scale up, you know,
07:48if we can do more, better, faster with less people, that helps keep their costs down.
07:52We believe that MCP will be cost efficient, rolling out MCP Essentials and having a chance
07:58to help lenders close loans more efficiently, more productively with the configurability
08:04and flexibility that the system offers.
08:07I think that the potential is endless at this point.
08:10Yeah.
08:11And that's the key, right?
08:12We want to help lenders grow their revenue and grow origination without necessarily having
08:18the boom and bust in hiring.
08:20Right.
08:21And I think we've seen that over the years.
08:23You know, nobody wants to lay a team off, right?
08:25So if you can have your system fully maximized to its potential by using the automation,
08:31the AI capabilities that will be in the system, hopefully they will be able to grow their
08:37mortgage business as well.
08:38And that's good for all parties.
08:40That's a win-win.
08:41Well, Cindy, this has been a really interesting conversation.
08:45Thank you so much for joining me today.
08:46Thank you, Diego.
08:47I appreciate the opportunity.