Waterstone Mortgage leverages Encompass Data Connect to bring transparency to decision-making
Data champions
Waterstone Mortgage uses Encompass® by ICE Mortgage Technology® Connect solutions to eliminate guesswork and uncertainty when deciding where to focus on making improvements. They’ve identified points throughout their workflow where real-time data streamlines operations internally and enhances functionality on the borrower’s end. By combining data from their payroll system with the Encompass environment, Waterstone developed a forecasting model that accurately predicts underwriting capacity, so they can be proactive about staffing.
- Data from Encompass Data Connect® allows them to accurately forecast volume and staffing needs, provide transparency, and eliminate guesswork.
- Data from Encompass Developer Connect™ powers dashboards that track loan progression, as well as Loan Officers’ goals, rankings, and peer benchmarks.
- Data from Encompass Consumer Connect® gives them a better view of what customers are doing and provides insight into functionality enhancements their borrowers want.
2023 ICE Innovation Award Winner
Waterstone Mortgage won a 2023 ICE Innovation Award for Data Driver – Best Use of Data to Drive Decisions. Waterstone prides itself on being an organization that pushes the envelope on finding ways to make processes more efficient. They’ve utilized data from Encompass Connect solutions to develop comprehensive dashboards that deliver real-time information about everything from staffing, to funding, to borrower engagement. Incorporating real-time data into daily decision-making has helped Waterstone develop inspired growth strategies.
Company profile
- Based in Pewaukee, WI
- $3B annual loan volume
- Branches throughout the U.S.
Products used
The challenge
Find ways to use all the data available through Encompass to answer questions, solve problems, forecast, and address issues before they become problems. Set up easy ways to extract data and apply it to everyday decision-making.
The solution
Extracting data from Encompass and leveraging it to identify trends allows Waterstone to be more intentional about putting action plans in place. Integrating robust data analysis into company strategy is driving profitability, higher quality loans, and improved customer relationships.
"Now we really have the ability to dive into our processes and identify potential opportunities. We look to data to tell us what stories we might not be telling in the best way and how we can improve that. We're at a transitional point in the mortgage industry where, if we don't use what the data is telling us, we're going to fall behind."
VP, Information Services, Waterstone Mortgage
Transformational transparency
Waterstone has shifted the way they look at things as an organization by applying data and logic to every aspect of the lending process.
Eliminate
Guesswork from decision-making
Snapshot
Key metrics to gauge progress
Forecast
Future volume based on real-time data
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