The Evolution of Business Intelligence in the Mortgage Industry

Anyone who has launched a tech startup in the fast-paced mortgage industry will agree: entrepreneurship is an onerous yet exhilarating adventure. It requires perseverance, ingenuity, and substantial programming know-how to get your idea off the ground and into lenders’ tech stacks.

In my 25 years in mortgage banking, not only have I witnessed the digital transformation first-hand, but I have  had countless opportunities to help lenders reach their operational data’s untapped potential  by giving them the tools and insights to solve business challenges in any mortgage market. 

My introduction to an evolving industry  

 Joining the workforce sparked my passion for problem-solving through technology. I served as captain and information systems manager in the U.S. Air Force, where I honed my coding skills by building the first website for the C-130 Hercules System Program Office. When my military service concluded, I accepted a software developer position for a mortgage lender. 

It was in this role that I experienced first-hand the costly, time-consuming challenges that lenders faced at the turn of the 21st century — challenges like disorganized and disparate data, redundant processes, and the opportunity loss of high returns yielded by technology investments. I pushed forward for over a decade, helping stakeholders codify their data, streamline processes, and achieve higher returns. However, I knew there had to be a better way. 

I founded LBA Ware when it was needed most, at the height of the 2008 financial crisis, to manifest my vision of addressing the mortgage industry’s need for custom digital solutions to automate the lending experience. 

Our flagship product CompenSafe put LBA Ware on the map.As the first mortgage-specific automated incentive compensation management platform, CompenSafe gave lenders unprecedented insight into loan officer and operations staff incentive compensation, performance, and so much more. When it became apparent how powerful this data was for lenders, the industry started looking for other ways to leverage such a high level of business intelligence (BI). That is how LimeGear was born.

LimeGear: a tool that lets lenders harness the power of their data 

In September of 2019, I unveiled LimeGear, LBA Ware’s turnkey BI platform, live from the main stage of Source Media’s Digital Mortgage conference in Las Vegas. Designed to help mortgage lenders leverage their data in a more consistent, insightful, and actionable manner, LimeGear was a cost-effective answer to lenders’ data problems that could be deployed straight out of the box. 

Prior to LimeGear, lenders were limited to BI solutions whose functionality was dependent on a highly skilled staff member to properly configure, administer, and deploy the software. Moreover, because a specialty skillset was required to run reports, these solutions had very low organizational adoption. Oftentimes the person who configured the software was the only one running reports, and as a result,  important stakeholders across the organization rarely saw these documents.LimeGear made waves in the mortgage industry as a low-maintenance solution that provides near-real-time information about loans and employee performance for senior leadership as well as the producers and managers who work closest to the transaction. 

It was specifically designed to be “out-of-the-box” for the vast majority of mortgage lenders who need timely, accurate business insights without having to go through a developer or business analyst to access them. What’s more, role-based permissions make it possible to share relevant data insights with employees across the entire organization, from the C-suite to processors.

Continuing LimeGear’s legacy of lender-focused BI 

I first envisioned LimeGear as a user-friendly means for lenders to understand and harness data, and that vision continues to inform LimeGear’s development to this day. In 2022 and beyond, SimpleNexus is dedicated to continuing LimeGear’s legacy of slicing data in innovative ways to meet mortgage lenders’ evolving needs. That is why, on behalf of myself and the SimpleNexus team, we are pleased to reintroduce LimeGear as Nexus Vision. 

While LimeGear’s name may change, the cutting-edge functionalities, such as out-of-the-box dashboards, scorecards, and reports, remain the same.  Under the stewardship of SimpleNexus, Nexus Vision will have access to a whole new universe of expertise, manpower,  and resources that will turbocharge innovation. While I can’t reveal the details of product enhancements that lie ahead, I am particularly excited about access we’ve received to incredible data sets – as well as the use of AI and machine learning – to create powerful predictive operational modeling unlike anything our industry has seen before. 

Under its new name, Nexus Vision will carry on the cherished reputation of its predecessor by bringing lenders’ attention to the right operational metrics for optimizing sales and business performance.  With its transformation, lenders will continue to benefit from the exceptional experiences they have come to expect from LimeGear as Nexus Vision elevates those experiences across the entire homeownership journey. Find out more about Nexus Vision.

Lori Brewer

Lori Brewer is a former officer in the U.S. Air Force, Boston Marathon finisher, mother of 3 boys, and EVP and general manager of SimpleNexus! With over 25 years in mortgage banking, Lori has manifested her forward-thinking visions into the development of numerous fintech applications including the premier incentive compensation platform CompenSafe™ and the turnkey mortgage business intelligence software, Nexus Vision™

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