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Clarity Technologies: Consultants Provide Customized Solutions for the Mortgage Industry

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Michael Lopez, Founder, Clarity TechnologiesMichael Lopez, Founder
“No two mortgage organizations operate in the same way, and every one of them has their quirks and differences,” said Michael Lopez, founder of Clarity Technologies. “For that reason, customized solutions are the best fit for many mortgage loan providers,” he said. Lopez’s ideology started several years ago when he and his colleague, Michael Sullivan, were working for an independent bank. There, the duo recognized that technical experts tend to overlook mortgage and banking operations due to the strenuous nature of its business processes. Consequently, it was tedious for their employer to hire candidates with domain expertise and move their business in a positive direction. At this juncture, Lopez and Sullivan laid the cornerstone of Clarity Technologies in order to fill such gaps in the mortgage space and deliver innovation-driven solutions.

Clarity Technologies provides tailored services to fit clients’ business objectives through compliance and infrastructure optimization. The firm ensures operational resilience in loan processing and delivers significant cost savings by encompassing third-party tool installation and management, training, project guidance, audit validation, and more within its portfolio. With 44 percent of loan officers using Ellie Mae’s Encompass as their loan origination system, Clarity Technologies also offers training for mortgage loan providers, ensures that the providers fully understand how to use all the capabilities of the tool for their benefit and that of their borrowers. At the same time, Clarity Technologies consultants aim to ensure that mortgage banking organizations can easily integrate the software into their daily activities without making significant changes in their everyday processes.

“We deliver customized services to these enterprises, which makes it easy for them to adopt solutions devised for their needs,” Lopez adds.

To understand the varying needs of clients while delivering those services, Clarity Technologies conducts a series of workshops to discuss business operations and document projects, as well as to identify pain points and create solutions to mitigate them efficiently. Through his work with these companies, Lopez clearly understands the struggle that top executives and managers come across while securing borrowers’ data sets, in-house software, and more. Therefore, the firm offers services that are crafted for the needs of CIOs. Clarity Technologies also helps banks and mortgage organizations carry out penetration testing and detect vulnerabilities that an attacker could exploit. “All it takes is one breach to sink the business,” Lopez said. “Therefore, security is a vital component of our offerings.”

Armed with such comprehensive solutions, Clarity Technologies has collaborated with many mortgage companies, helping them adopt relevant practices for business growth. Following is one of many examples that demonstrate Clarity Technologies’ proficiency in delivering consulting services and how great the need is within the mortgage industry. One particular client was challenged due to the ineffectiveness of a vendor in streamlining manual processes. As a result, the client called on Clarity Technologies to stabilize business operations. To resolve the issues, Clarity Technologies managed, enhanced, and modified the client’s loan origination system to process day-to-day requests of loans. The consultants also replaced many ineffective processes by implementing intuitive software for the internal teams of the client, which resulted in a cost saving of $2 million.

To further help companies with similar operational cost savings, Clarity Technologies is developing an enterprise resource planning (ERP) software that will specifically focus on the mortgage industry. The company is also transforming its business by offering phone carrier services—a voice over internet protocol (VoIP)—to enhance the encryption functionalities and provide unified communication solutions for the mortgage and banking sectors. Clarity Technologies is further committed to releasing several SaaS products to simplify and streamline business processes and deliver better borrower experiences. “All of our work is centered on improving productivity and efficiency of processes that are carried out in the mortgage banking industry while keeping in mind the customers,” concludes Lopez.