| |
July 20, 2010; Corona, CA; Corona-based Paramount Residential Mortgage Group (PRMG) announced today that they launched PRMG IQ which allows them to effectively rank their brokers based on the key metrics that create the most valuable loans as well as provide real-time information that will deliver a higher level of customer service to their broker community.
“We wanted to change our culture to be more performance based and simplify our business by being confident that we knew where our business stood, as opposed to just thinking that we knew,” said Paul Rozo, CEO and President of Paramount Residential Mortgage Group. “To do so,” Rozo continued, “we needed technology that combined our existing systems, gave us real-time insight into our data, and created efficiencies that ultimately gave us a competitive advantage. In short, we needed PRMG IQ.”
In combination with their existing systems, including their current LOS, Paramount Residential Mortgage Group created PRMG IQ by customizing Movation, a Business Management Platform developed by Colorado – based Motivity Solutions, to help them with their culture shift. Through PRMG IQ, Paramount Residential Mortgage Group now has a broker performance scorecard that allows them to identify performing brokers while coaching the brokers that aren’t performing to our standards, and identify the broker whose business ultimately creates a negative profit margin.
"The definition of a performing broker has shifted over the past 24 months,” said Rozo. “Volume used to be the driving factor, but now we are focused on quality just as much as quantity – and this is only possible because we now have the metrics to judge the quality of a broker’s loans,” Rozo continued.
“Taking our wholesale business to this level would not have been possible had the technology not recently been brought to market to make this possible,” said John Ashley, chief information officer of Paramount Residential Mortgage Group. “Movation made it possible to seamlessly combine the information in all of our systems, and apply business intelligence, key performance indicators, scorecards, and executive dashboards – all in real-time – that gives our executive team the tools to make better decisions regarding our pipeline,” Ashley continued.
“PRMG is the kind of partner that we are proud to support,” said Tyler Sherman, CEO of Motivity Solutions. “They share our mission of taking the industry to the next level through technology and using technology to change the culture of mortgage banking in general,” Sherman continued. “We both believe in using technology to make business more simple, which means using what is already in place, creating simple steps to achieve corporate goals, and doing it quickly and inexpensively,” concluded Sherman.
|
| |
Since 2001, PRMG continues to be a leading residential lender in the mortgage industry. As a privately held mortgage banker and residential home lender, PRMG has successfully helped many home borrowers purchase and refinance their homes in the western united states. Our goals are to provide customers with innovative products, cutting edge technology and industry-leading customer service. PRMG currently employs more than 300 people in 16 branches throughout the Western United States.
|
| |
Motivity Solutions is a Colorado-based creator of culture changing technology that combines and enhances existing systems to simplify business by creating insight, efficiencies, and a sustainable competitive advantage. As an award-winning service provider, Motivity Solutions and its technology encourage a performance-based environment that aligns employees, managers, and executives to corporate goals and an improved bottom line.
|