SunTrust Banks Inc. has deployed an online loan origination system to improve the quality control of the loans it underwrites at SunTrust Mortgage Inc., the vendor Metavante Technologies Inc. announced Wednesday.
"We are intensely focused on credit quality and the overall quality of each loan file itself, especially since the mortgage lending process has become increasingly more complex," Sterling Edmunds, the president of SunTrust Mortgage, said in Metavante's press release. "By pushing our rules to the point of sale we believe that we have significantly improved the customer's experience and are better able to present the right product at the right price from the very beginning of the application process."
SunTrust, of Atlanta, is using the online origination system now for its retail, correspondent and wholesale mortgage lending channels, Metavante said. The system incorporates Metavante's automated decision engine, which enables retail loan officers, origination call centers, correspondent lenders and mortgage brokers to obtain information instantly about SunTrust Mortgage's products including eligibility, pricing and underwriting findings.
Metavante, of Milwaukee, announced in April that it had agreed to sell itself to Fidelity National Information Services Inc. of Jacksonville, Fla. The deal is expected to close by yearend.
