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00:00I'm Allison LaForgia, Managing Editor of HousingWire's Content Studio.
00:09Today, we're going through a demo of MCP Essentials with Jeffrey.
00:13The Mortgage Cadence Platform, MCP, offers a comprehensive digital mortgage solution
00:19that streamlines operations, boosts efficiency, and supports lenders of all sizes.
00:24Whether you need a ready-to-use self-service solution, MCP Essentials, or a customizable
00:31enterprise-grade solution, MCP Enterprise, Mortgage Cadence has your right fit.
00:37MCP provides advanced automation, analytics, seamless integrations, and digital closing
00:44capabilities designed to make the lending process smoother, faster, and more efficient.
00:50Jeffrey, take us through the demo.
00:51Hello, my name is Jeffrey Vogel, and I'm a product manager here at Mortgage Cadence.
00:56I'm happy to be here today to share with you how Mortgage Cadence is transforming the mortgage
01:00industry with cutting-edge technology and powerful loan origination solutions.
01:05At Mortgage Cadence, we focus on building the best loan origination system to meet the evolving
01:09needs of the mortgage industry.
01:11The Mortgage Cadence Platform, or MCP, offers two modern solutions.
01:15The first is MCP Enterprise, which is our fully customizable large enterprise solution.
01:21MCP Essentials is our newest offering.
01:24Essentials is a pre-configured solution designed for self-service and streamlined operations with
01:29reduced administrative costs.
01:32One key benefit of Essentials is that it retains enterprise-level configurability options on
01:36top of its pre-configured workflow and automation.
01:39MCP Essentials is the offering I'll be showing you today.
01:42MCP Essentials brings enterprise-level power to your business in a simplified pre-packaged solution.
01:48With self-service customization that leverages intelligent frameworks, you can scale efficiently
01:53and ensure maintainability while adapting to changes in your business and in the industry.
01:58Additionally, MCP Essentials simplifies your tech stack with an all-in-one platform that
02:03integrates the point-of-sale system, loan origination system, product and pricing engine, document
02:09classification, preparation, and extraction, and third-party integrated services such as Power BI
02:14for reporting capabilities.
02:15Our comprehensive end-to-end solution not only reduces complexity in disparate systems, but
02:21also simplifies vendor management and in turn lowers your cost of ownership.
02:26Lastly, MCP Essentials is designed with scalability and compliance in mind, so you can evolve your
02:31business while meeting the highest security and regulatory compliance standards.
02:35I'm excited to give you a taste today of how MCP Essentials can help streamline your operations
02:40and drive growth in today's competitive market.
02:42With that, let's get right into the demo.
02:45All right.
02:45So our demo will be focusing on one of the simplified administrative aspects of MCP Essentials, which
02:51is our UI Designer tool.
02:52UI Designer is a tool for creating or modifying pages that are presented to a lender's users
02:57inside of the loan origination system.
03:00UI Designer is what we call a WYSIWYG editor.
03:03What you see is what you get.
03:05It's an easy-to-use tool that allows a user with basic administrative access to create
03:10additional pages for data entry, dashboard review, and service orders.
03:14It's intended to be used by those with business knowledge, not technical knowledge.
03:18There's no programming needed.
03:20Like other administrative tools in MCP Essentials, it does not require IT support or a full admin
03:25team.
03:26It's the same tool used by mortgage cadence teams to build all of our pages, so you know
03:30we'll continue to support and enhance the tool.
03:32So let's set out a scenario for us to solve with the UI Designer.
03:37Let's say I have a unique product that my company originates.
03:40It's a jumbo product and under certain circumstances requires a second appraisal, either because the
03:45loan amount is over $2 million or it has been flagged as a higher-priced mortgage loan or
03:49HPML.
03:50My company wants a simple page to track the second appraisal requirement and the completion
03:54of the appraisal.
03:56So there's three ways I can solve for this with UI Designer.
03:58One would be to create a net new page completely from scratch.
04:02The second way would be to copy an existing page, which would then make a custom page that
04:07I've got to maintain forever.
04:09While both are good ways, we've got a better way.
04:12MCP allows lenders to modify an additional information panel that's embedded within core
04:18MCP pages.
04:18These panels are custom to each lender and allows you to add fields to a core MCP page
04:24without needing to make a copy of it.
04:26This means that Mortgage Cadence will continue to maintain and update that page, and updates
04:31that we provide won't wipe out your additions to that page.
04:34It's great for when the MCP page has most of what you need, but you want to add an extra
04:38few fields.
04:39So for today, we'll add our extra data points to the MCP page, appraisal information.
04:44So here I've got my additional information page, and it's currently a blank slate ready
04:48for my additions.
04:50So I'll start off by using the multi-field selector to add my first few fields.
04:56So let's go ahead and add the base loan amount so I can tell whether or not I've got a $2 million
05:01loan, and let's also add the higher price indicator.
05:10That way I can tell whether or not I've got an HPML loan.
05:17And then we'll go ahead and add the second appraisal required field as well.
05:26All right, let's add those to the page.
05:28You'll notice that the added fields will snap to the grid automatically.
05:32There's a specific four-column paradigm here.
05:34This is to support responsive design on a number of devices.
05:38You won't need to worry about formatting for different screen sizes.
05:42For example, this page will automatically reformat into two columns for a loan officer,
05:47say, working on an iPad at a marketing event.
05:50All right, so I've decided I want to make a few changes.
05:52I want to make this higher price indicator a checkbox rather than some radio buttons.
05:57So I'll just simply highlight this, click delete on my keyboard, remove that, and then
06:02I can put a checkbox field onto this page.
06:05We'll go ahead and set that up as the higher price indicator again.
06:09All right, and then for my second appraisal required field, let's change the radio buttons
06:25to horizontal just for a little bit better readability.
06:27And then my organization calls these additional appraisal required instead of second appraisal
06:34required.
06:34So let's go ahead and just simply change the field label.
06:44All right, now let's add a button to add some automation.
06:48MCP Essentials has a data validation solution called Check, C-H-E-Q, and I want to help my
06:53processors validate data before submitting the loan over to the underwriter for review.
06:57So we'll go ahead and add a button here, and we'll grab the Raise Event button, and we'll set
07:10this with one of our check automations, Pre-Check Submit to Underwriting.
07:17All right, and let's also set up security access so the processors and the processor managers
07:22can use this button.
07:27All right, next I think I'm going to need an explanation field.
07:30I don't have a field in the core MCP dataset that matches exactly what I want, and I don't
07:35just want this info in loan notes.
07:38Fortunately, MCP Essentials solves this for me.
07:40We have what we call reserve fields, which are partially configured generic fields that can
07:45be used for any unique purpose, and we have 1,500 of these fields.
07:49They're reportable in Power BI.
07:51They don't impact performance, even if you use a lot of them on a page, and if you decide
07:55to use them with personally identifiable information, or PII, you can also set up these fields with
08:00a higher level of security.
08:02So we'll add a text box onto the page here, and we'll use one of these reserve fields.
08:15We'll select this reserved text 2.
08:20Now, obviously, reserved text 2 isn't a very good name.
08:23Let's relabel this with something that's a little bit more useful.
08:26Second appraisal explanation.
08:34All right, and then let's also add some helper texts that provide a little bit more detail as
08:39to what I want my end users to enter in here.
08:42So I'll just pop some text, and you see it shows up kind of as a tooltip underneath here.
08:51All right, let's change the width of this field so that it's a little bit bigger.
08:55This is probably not enough space for my users to enter enough data in so that I can completely
08:59see it.
08:59So I can change the size of the field here.
09:01I can change this to as many columns as I want.
09:05I think two columns is probably big enough for this field.
09:08All right, now I have some internal procedures that my company uses.
09:12These are stored on our internal website, and I want to link directly to those from MCP.
09:18That way, my users don't have to navigate out of the system.
09:22So let's go ahead and drop a hyperlink on here.
09:25We can call these internal appraisal procedures.
09:27And then simply type the URL down here.
09:40All right, let's add one more field to this panel.
09:44Let's add a page link to a more detailed page with additional property information.
09:48I can add this page as pop-up.
09:50So we'll go ahead and add that here.
09:53We'll bind this to one of our existing MCP core pages that I really like.
09:57Property and information.
10:02Property and appraisal information.
10:04All right.
10:05So now I've got a good amount of data points here.
10:07I think I do want one more panel, though, so I can track important appraisal dates.
10:12So we'll go ahead and add an additional panel.
10:17And we'll call this one appraisal dates.
10:25All right.
10:26So let's go ahead and add a date to this.
10:29And let's add the second appraisal order date so I can tell when that appraisal has been ordered.
10:35All right.
10:35All right.
10:42As you can see here, I'm only receiving date type fields when I type in second appraisal.
10:50The system knows that I selected a date field and is only giving me those dates, so I don't accidentally put a checkbox type data point into a date field.
10:57It's got that intelligent framework that's keeping me within the context of the system.
11:03All right.
11:03Second order appraisal date is added here.
11:06Now, I know I want three more dates.
11:08So let's go ahead and create those quickly.
11:10Again, I've got keyboard shortcuts here, so I can go ahead and press Control-C for that date field, select inside the panel, and add three more dates really quickly.
11:19All right.
11:20Now all I have to do is select the data points that I want them to be linked to.
11:26So let's go ahead and add the receive date.
11:30And over here, we'll add the report date.
11:34For the last field, I'm going to add the estimated closing date.
11:43That way we know what dates we're tracking to, so I know I have to get this appraisal back.
11:53All right.
11:53Let's go ahead and save this.
11:56I get some auditing information.
12:01That way I can track that.
12:03And now that the page is saved, I can go ahead and switch to MCP and show you the final page.
12:11All right.
12:12We'll jump into my loan here.
12:13And as you see, I've got the appraisal information favorited over here.
12:16If I scroll down to the bottom, you can see the panels that I just added.
12:22Here's my baseline amount, higher price indicator, additional appraisal required, radio buttons.
12:26Everything that I just added is already there.
12:28So hopefully this highlighted how easy it is to configure page additions in MCP.
12:33Now we've got a few minutes for questions, if there are any.
12:38Jeffrey, thank you for taking us through that demo.
12:40Let's jump right into some of the questions.
12:42You mentioned that MCP Essentials was recently released to the market.
12:49Can you explain the difference between the two offerings, MCP Enterprise and MCP Essentials, which you are showing here today?
12:56Yeah, absolutely.
12:57So we've got one platform, two offerings inside of it.
13:01Essentials is built on top of the existing MCP code base.
13:04Mortgage Cadence has been around since 1999.
13:07We've got 26 years of best practices built up from working with our lenders.
13:10So while Essentials is new to the market, MCP and Mortgage Cadence is not.
13:16Enterprise is targeted at lenders that have an IT team to support their customizations.
13:20Those lenders typically heavily modify the workflow in MCP to their specific detailed desires.
13:25Essentials clients normally don't require quite as much customization.
13:29They're more focused on having a reduced administrative burden.
13:32We support that within Essentials by managing software upgrades for them and providing that pre-configured workflow and setup.
13:37So you just mentioned that pre-configured workflow.
13:42How does the pre-configured setup help businesses get up and running quickly?
13:47Big implementations are expensive and time-consuming.
13:51In today's market, no one has time for a 12-month implementation anymore.
13:54MCP Essentials allows a lender to implement that platform quickly.
13:58We want to get you working on the system so you can spend more time originating loans
14:02and less time creating technical requirements and building configurations.
14:07And what are the key benefits of the self-service administrative tools for users?
14:13Yeah, good question.
14:14So when we think of Essentials, we're really thinking enterprise power simplified.
14:19Essentials gives you the power of the tools we built for enterprise
14:22in an offering that has lower administrative costs.
14:24One key is that supporting Essentials does not require a full admin or IT team
14:29because it's business accessible and simplified.
14:32Mortgage Cadence maintains portions of the system for you.
14:35So what really feels like Mortgage Cadence is an extension of your admins.
14:39It allows you to focus on the portions of MCP that make you more competitive in the marketplace
14:43and less on the management of the system.
14:45That sounds amazing.
14:48Jeffrey, thank you for showing us MCP Essentials.
14:51For more information about Mortgage Cadence, click the link below.