Click here to close now.




















Welcome!

@CloudExpo Authors: Mike Kavis, Liz McMillan, Greg O'Connor, Elizabeth White, Tom Lounibos

News Feed Item

Mortgage Industry Gets 1st Cloud-based Valuation Software

Level1Analytics™ formed to provide accurate, fast & defendable analysis

FT. LAUDERDALE, Fla., Nov. 28, 2012 /PRNewswire/ -- Level1Loans and IntraPrise Solutions, Inc., today announced the creation of Level1Analytics LLC, a joint venture to provide cloud-based mortgage valuation and other financial modeling software to owners and managers of mortgage and mortgage related assets. Each of the companies has a 50% joint ownership in the private venture, which is led by Dr. Thomas J. Healy, CMB of Level1Loans and Jeff Van Voorhis of IntraPrise Solutions.

"We created Level1Analytics to meet a need that hasn't been addressed in the financial services industry:  an affordable easy to use in-house capability that provides accurate mortgage and mortgage servicing valuation and modeling that banks and others can defend with confidence when regulators start asking tough questions," said Dr. Thomas J. Healy, CMB, president of Level1Analytics. "Previously, these institutions had to rely on cumbersome and time consuming do-it-yourself analysis or costly outside consultants and vendors."

L1-MSR is company's first product for Mortgage Servicing Rights Valuation

The company's first product, L1-MSR, is a first of its kind, cloud-based software that provides banks, mortgage banks, credit unions, insurance companies and others with the do-it-yourself capabilities to value and stress test their Mortgage Servicing Rights (MSR).  The system is updated monthly to reflect the latest prepay speeds and assumptions.  Users can rely on these market tested variables or use their own. By simply uploading loan level portfolio characteristics into Level1Analytics secure platform, what used to take days or a team of analysts to accomplish is completed in a matter of minutes. The software is licensed to individual institutions on a monthly basis and provides the power to make informed MSR management and investment decisions using the most complete stratification, valuation and accounting software available.

"L1-MSR is technology that is fast and easy to use and doesn't require an army of people or capabilities to generate accurate, consistent and transparent MSR valuations," said Jeff Van Voorhis, Executive Vice President Development.  "L1-MSR will greatly improve bottom-line accuracy as well as efficiency for institutions that today may be making these calculations using spreadsheets or other cumbersome software."

1st Source Bank Deploys L1-MSR

L1-MSR is currently being deployed by 1st Source Bank of South Bend, Indiana, a financial institution with $4.49 billion in assets and 75 banking centers in 17 counties. It also operates 22 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and eight 1st Source Insurance offices. 

"Level1Analytics brings us in-house capabilities that we previously didn't have. We can now run reports with confidence on our own time for quarterly reporting to regulators or when we have a question about our portfolios," said Pam Green, Accounting Manager of 1st Source. "It allows us to know with precision exactly what the value of our Mortgage Servicing Rights are at any point in time, and it's extremely easy to use."

About Level1Analytics

Level1Analytics, headquartered in Fort Lauderdale, Florida is a joint venture between Level1Loans and IntraPrise Solutions. Level1Analytics provides financial modeling software to the mortgage lending industry. The company develops cloud based software technology that allows financial institutions to value their mortgage portfolios and mortgage based assets in an easy, accurate, defensible, economical and transparent way. For more information go to www.level1analytics.com.

Contact: Siobhan Carroll
401-331-4600/401-323-3036(m)
[email protected]

SOURCE Level1Analytics

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with ...
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, S...
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
"ProfitBricks was founded in 2010 and we are the painless cloud - and we are also the Infrastructure as a Service 2.0 company," noted Achim Weiss, Chief Executive Officer and Co-Founder of ProfitBricks, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit f...
"We have been in business for 21 years and have been building many enterprise solutions, all IT plumbing - server, storage, interconnects," stated Alex Gorbachev, President of Intelligent Systems Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.