News & Insights

New American Funding Signs Renewal

 

 

New American Funding signs renewal with BaseCap

 

 

February 15, 2022

New American Funding signs three-year renewal with BaseCap

 

BaseCap Analytics, a recognized leader in mortgage quality control solutions for life-of-loan issue identification, announced today that New American Funding, a top independent mortgage lender on Scotsman Guide’s Top Mortgage Lenders List, has signed a three-year renewal to continue using BaseCap Analytics’ Data Quality Manager, a comprehensive, life-of-loan platform used by financial institutions to catch, collaborate, and correct loan defects.

New American Funding recognized the unprecedented 55% “no touch” and 45% “low touch” results from BaseCap Analytics’ Data Quality Manager. “BaseCap’s Data Quality Manager offers us innovative features that automated a very detailed process, allowing us to focus our efforts precisely on those few issues that required remediation,” said Carol Norton, Senior Vice President of Servicing Systems, New American Funding. “BaseCap’s solutions improve our processes and make it easy to scale to the surges in the market as they happen without changing staffing.”

In addition to continuing its use of BaseCap Analytics’ Data Quality Manager for Post Close QC, New American Funding is making plans to broaden its use within multiple departments.

“We are pleased to continue our trusted relationship with New American Funding and deliver solutions that help support its best-in-class operations,” said Jason Ahl, Head of Mortgage Solutions, BaseCap. “We appreciate New American Funding’s confidence in us and we are excited for deeper integrations across the firm to support its ongoing growth and success.”

 

About BaseCap Analytics
BaseCap Analytics is a data solutions technology company aimed at helping mortgage quality control become the baseline for organizations across the industry; improving their ability to make better business decisions by improving the accuracy and quality of every piece of information. BaseCap’s Data Quality Manager platform has been deployed internationally and can be found via Microsoft’s Azure Marketplace as the only Data Quality Microsoft Partner in the Microsoft FSI cloud.

About New American Funding

New American Funding is an independent mortgage lender with a servicing portfolio of over 222,000 loans for approximately $58.1 billion, 167 nationwide locations, and about 4,500 employees. The company is a 2021 Mortgage Professional America 5-Star Retail Lender and has made Inc. 5000’s list of Fastest-Growing Companies in America seven times. It offers state-of-the-art career training and provides its branch Loan Officers with innovative technologies to streamline the mortgage process.

 

For more information contact
Jason Ahl
Head of Mortgage Solutions
Jason.Ahl@basecapanalytics.com
877-842-8251 ext.3

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24 Hour Loan Due Diligence Guarantee

Guarantee Offer:
We guarantee a 24-hour turnaround time for performing a standardized diligence checklist and providing a certification for eligible loans. If we fail to meet this commitment, we will provide a credit for the affected loan on the client’s next loan submission. This guarantee timeline does not apply to exception resolution and subsequent reruns of loans.

Conditions & Exclusions:

This guarantee applies under the following conditions:

  1. Cutoff Times & Business Days:
    1. The 24-hour period begins from the time of submission, provided it occurs before the daily cutoff time as defined in the contract.
    2. 2.Submissions received after the cutoff time will be treated as received on the next business day, and the 24-hour period will begin from that point.
  2. Force Majeure & System Outages:
    1. This guarantee does not apply in the event of Microsoft Azure outages, broader cloud service disruptions, or any force majeure events beyond our control.
  3. Third-Party Dependencies:
    1. If document scans, data files, third party reports or other required materials are delayed due to our provider or an integration partner, the 24-hour clock will not begin until all necessary documents and data are received.
  4. Volume Spikes:
    1. If loan volume exceeds 30% of the rolling 30-day average, we reserve the right to temporarily suspend the 24-hour guarantee until processing volumes return to normal or are reflective of the new increased average.
  5. Exclusions & Modifications:
    1. We reserve the right to modify or suspend this guarantee at our discretion in the event of circumstances beyond our reasonable control.
    2. The credit applies only to the next loan submitted by the client and has no cash value.

By submitting a loan for diligence under this guarantee, the client acknowledges and agrees to these terms.